Cross-chain data oracle Band Protocol has announced a new integration with Starport, a development tool for the Cosmos blockchain—allowing third-party developers to gain access to numerous new data feeds.
Thanks to the integration, newly created chains in the Cosmos ecosystem will be able to exchange data via the interoperability standard called inter-blockchain communication protocol, or IBC.
"Until now, IBC was primarily used for asset transfers," Band Protocol developers noted in a press release shared with Decrypt today.
The integration of the Band module onto the Starport framework adds the capability for third-party Cosmos developers to access decentralized data such as token information, real-world events, sports, weather, random number generation, and more.
What is Cosmos Network (ATOM), the Internet of Blockchains?
At the moment, a blockchain tends to act as its own universe with almost no way to communicate with the world outside of its network–without third-party help anyway. As a result, bickering, tribalism, and maximalism among the supporters of the various different blockchains has become the norm. But can there be one blockchain to unite them all? Take a trip as we explore Cosmos, the "Internet of blockchains". What is Cosmos Network? Cosmos' aim is simple: to enable any blockchain to communicate, s...
“Together with Cosmos, we are building a sophisticated infrastructure for blockchains to interact in dynamic ways, far beyond token transfers,” Soravis Srinawakoon, CEO and co-founder of Band Protocol, told Decrypt in an email exchange.
The partnership means that Band Protocol is the first oracle to be adopted as a standard in Starport, making blockchains in the Cosmos ecosystem "even more connected and interoperable than ever before," according to the release.
Oracles and the Internet of Blockchains
The Cosmos ecosystem was designed to become an “Internet of Blockchains” where any decentralized network can communicate, share data, and transact with any other.
Decentralized oraclesoracles are a special type of middleware that aggregates and relays various real-world data to blockchain networks. Oracles usually get their data from multiple sources and are not controlled by any single entity, providing an additional layer of data security.
