HashQuark & Band Protocol Enter Strategic Partnership
We are excited to announce that we have joined the Band Protocol ecosystem as a Genesis Validator — this is the first step towards a long-term collaborative partnership, working together to build connections between smart contracts to real-world information and open APIs.
Band Protocol is a decentralized cross-chain oracle that provides smart contracts the tools to specify and aggregate any external data source or API to securely build decentralized applications. They are currently backed by the leading cryptocurrency exchange, Binance, and world-class investors like Sequoia Capital who back companies that control $1.4T in stock value.
Decentralized applications have taken the blockchain world by storm, with over $1.2B in total value locked earlier this year. Nevertheless, there still lies a major gap in the security of these protocols in oracles, a middleware data layer that connects smart contracts to external data points, will play a critical role in the growth of such applications. For example, MakerDAO’s ETH/USD price feed stalled for hours on March 12 when the Ethereum network congested, leading to millions in undercollateralized Dai.
“The blockchain space is ever-growing and the safety of decentralized applications have never been more important. We expect Band Protocol to become a leading oracle solution and have chosen to support the project due to their solutions on major oracle issues to date such as delayed data and network congestion. This is the first oracle project to meet the demands of a real-time data request and implement a working staking model.”
— Leo Li, HashQuark CEO
We are confident in Band Protocol’s oracles to become a critical service connecting the decentralized applications with the real-world and vice versa to enable previously limited use-cases and drive the widespread adoption of blockchain technology. Here is what makes Band Protocol different from other oracle solutions:
● Meet the demands of a real-time data request secured through a proof-of-stake-consensus.
● End-to-end flexibility for developers to create custom oracle scripts which specifies data sources, aggregation methods and security parameters.
● Blockchain-agnostic solution that avoids scalability limitations and network congestions of any destination blockchain — all oracle computations including settlement, sourcing, aggregation is offloaded onto BandChain to receive data within 6 seconds.
Band will be welcomed as a preferred partner to the HashQuark network to drive growth and mutual benefits. HashQuark’s publicity network and engaged community will be introduced to Band to further evolve its development. We believe in a vision of smart contract 3.0 where blockchain applications can be connected securely and seamlessly to the world. We look forward to leading that vision with Band Protocol.
“Working closely with the largest staking service provider in Asia is an exciting development for the strength and decentralization of BandChain as we ramp up towards mainnet launch. We are grateful to have the strategic support of HashQuark as we grow the adoption and use-cases of decentralized applications in China and across Asia with HashQuark expertise.”
— Soravis Srinawakoon, CEO & Co-Founder of Band Protocol
As a BandChain validator, HashQuark will collaborate with over 20+ leading validators to provide the highest standard security and node services to decentralized and secure Band Protocol.
Learn more about Band on https://bandprotocol.com/.
About Band Protocol
Band Protocol is a cross-chain data oracle platform that aggregates and connects real-world data and APIs to smart contracts. Blockchains are great at immutable storage and deterministic, verifiable computations — however, they cannot securely access data available outside the blockchain networks. Band Protocol enables smart contract applications such as DeFi, prediction markets, and games to be built on-chain without relying on the single point of failure of a centralized oracle. Band Protocol is backed by a strong network of stakeholders including Sequoia Capital, one of the top venture capital firms in the world, and the leading cryptocurrency exchange, Binance.
Website | Whitepaper | Telegram | Medium | Twitter | Reddit | Github
About HashQuark
HashQuark, member of HashKey Group, is a professional staking service provider focusing on public chains built upon the likes of PoS and DPoS. With HashQuark, token holders simply need to store tokens into their accounts and receive staking rewards in return. HashQuark Open Staking Platform, part of HashQuark, has entered into partnerships with the world’s leading crypto wallets and exchanges, offering staking services to token holders and institutional investors in a secure and stable way.
