The month of July brought to life several interesting updates from Band protocol.
Band Protocol over the last six months has been able to successfully carry out important updates like its proposed BandChain Phase 1 launch. This article reveals in detail major technical updates, integrations, and partnerships all aimed at ensuring the platform remains secure and reliable.
With a team of experienced engineers, Band Protocol continued interest is focused on working with top layer-1 blockchain platforms. Aside from this, the platform also holds a major interest in the native decentralized applications (dapps) built on these blockchains. These dapps help with the integration of BandChain custom oracle scripts. Band Protocol in July also released an updated version of its CosmoScan as well as its GuanYu Testnet #1. It is, however, important to note that all upgrades on the platform are open source.
GuanYu Testnet #1 update
The cross-chain Oracle platform on July 15, published a guide on how to be a validator on its (GuanYu) Testnet #1. The guide is designed as a learning tool showing interested persons what the platform expects from them as validators. Validators taking part in the Guan Yu Testnet #1 and #2 will be among the first set allowed to set up a Phase 1 Mainnet node.
Currently, Band Protocol boasts of over 50 validators all working tirelessly to help locate, fix and monitor issues. The platform has over time mined over 400,000 blocks with more than 20,000 oracle requests completed by validators.
Being one of the most popular Band Protocol projects, CosmoScan helps connect the community to BandChain oracles. In July, CosmoScan received full mobile support as well as incoming transactions so users can see BAND tokens being sent into an address. Plans are also in place to give CosmoScan UX a complete makeover.
1/ We recently released #BandChain v1.0.4 with many changes for the BandChain Phase 1's upcoming testnet.
— Band Protocol (@BandProtocol) July 12, 2020
Finishing touches are currently taking place on BandChain oracle protocol. Plans are in place to publish the audit in the coming weeks. A reorganization of the incentive platform also took place. Basically, this helped to locate and flag inactive validators.
Band Protocol plans to launch a Proof-of-Authority Mainnet in early August. This brings the protocol a step further in ensuring the availability and accessibility of the protocol to partners. Subsequently, making it possible for developers and partners to introduce BandChain to their Mainnet.
Other technical updates include Oracle Script updates and plans are in place to introduce tools like Truffle to community members.
During the month of July, the cross-chain oracle platform formed a total of nine partnerships with top industry players. Below are the details of the partnerships.
- Crypto.com listing
Top crypto fintech platform, Crypto.com announced the listing of Band Protocol tokens (BAND) on its App platform. The listing took place on July 31, 2020, at exactly 2:00 pm (GMT +7). Now, Crypto.com over 3 million users will be able to easily purchase BAND via credit cards or bank transfers. They can also spend BAND tokens in over 60 million merchants shops all over the globe. The listing on Crypto.com will provide BAND tokens with much-needed awareness and more use cases. Find out more on BAND Crypto.com Listing here.
- Satang Partnership
Alongside Crypto.com listing, the platform also got listed on Thailand foremost exchange Satang on July 7, 2020. The listing makes it possible for users to purchase items with BAND tokens on Satang e-commerce shop.
- Waves Platform Partnership
The cross-chain also entered a strategic partnership with Web 3.0 applications open blockchain protocol Waves Platform. The partnership will make it possible for developers, enterprises, and many other ecosystem players on Waves to freely make use of Band Protocol oracles.
- ICON Network Partnership
Known as one of the largest decentralized technology networks available today, its partnership with Band Protocol is a welcome development. Together both teams have been hard at work ensuring Band oracles perfectly meet the demands of dapps in the ICON ecosystem. Due to the partnership, developers starting from today will have unlimited access to the BandChain decentralized oracle network.
Other Band Protocol partnerships include that with Neutrino Stablecoin, Gravity Hub, Balance, and Bet Protocol partnerships. Another major partnership update is that of Woodstock becoming a BandChain node validator.
In July, the cross-chain oracle platform started several staking support campaigns with the theme ‘Understanding Band Oracle’ series. The platform also hosted a virtual hackathon supported by Cosmos and Agoric teams.
The month of August holds several exciting updates for Band Protocol. Plans are in place to ensure all 50+ GuanYu testnet validators take part in monitoring the network.