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TRON and Band Protocol Form Strategic Partnership; Scalable Oracle Technology and Ecosystem Integrations Underway


TRON, one in every of many largest blockchain-based working packages on this planet, has customary a strategic partnership and achieved integrations with Band Protocol to ship protected and verified decentralized oracles to power its shortly rising DeFi and decentralized software program space. The announcement comes as TRON Founder and CEO of BitTorrent Justin Sun prepares to conduct an AMA at with Band Protocol CEO and Co-Founder Soravis Srinawakoon on Wednesday, September 2nd, 9:00 PM Pacific Time (PT).

This press launch choices multimedia. View the whole launch proper right here: https://www.businesswire.com/news/home/20200831005363/en/

(Graphic: Business Wire)

(Graphic: Business Wire)

Band and TRON are fixing the blockchain scalability problem and have joined forces to ship high-throughput, customizable, and decentralized oracles for all TRON builders and quite a few industry-leading DApps inside the TRON ecosystem. Additionally, a TRC20 BAND token is being explored to be utilized in TRON DeFi DApps as a collateral asset, retailer of value, medium of change, and further.

As part of the strategic partnership, the TRON Foundation is already working fastidiously with Band Protocol to mix and protected all TRON DApps masking DeFi, video video games, RNG, enterprise features, and completely different features processing 1000’s and 1000’s of {{dollars}} in value and tons of of 1000’s of consumers. The first Band Protocol DApp integration is with JUST, the principle stablecoin protocol on TRON, to protected over $30M in collateral.

The bridge implementation of the BandChain decentralized oracle group has been achieved with the assistance of TRON core builders who’ve moreover formally added Band Protocol into the TRON developer documentation. The documentation supplied builders an entire data on straightforward strategies to leverage the devices to query the information already on the market on the BandChain bridge contract or create a personalized decentralized oracle with fine-tuned parameters. With this integration, TRON builders are empowered to assemble extraordinarily protected decentralized features which is perhaps actually scalable with out the restrictions of utmost data costs or congestion factors frequent in native blockchain-based oracles.

“We are ecstatic to enhance TRON with the most valuable oracle product on the market,” talked about Justin Sun, CEO of BitTorrent and Founder of TRON. “This integration marks a new era of high-quality partners, protocols, and services migrating to TRON’s blockchain. The future of blockchain technology is bright as we kick off a series of TRON DeFi partnerships to come. TRON’s ecosystem is growing faster than ever and having Band Protocol secure our top applications helps us speed up the adoption of DeFi and DApps worldwide.”

TRON is taken into consideration to be one of many essential protected and operationally surroundings pleasant public chain packages inside the blockchain {{industry}} and trusted by an intensive ecosystem of predominant companions akin to Samsung, Opera, enterprise, and authorities departments. The decentralized group is operated by over 925+ distinctive and energetic nodes throughout which the creation and storage of data does not depend upon a selected specific particular person or group.

“Band Protocol is thrilled to be the first oracle solution integrated into the TRON public blockchain, a platform for scalable blockchain technology and operating system for almost 1000 decentralized applications,” talked about Soravis Srinawakoon, CEO & Co-Founder of Band Protocol. “Working closely with the TRON team to support and bring secure, customizable, and decentralized oracle technology will power the next generation of scalable applications that fuel the next wave of blockchain adoption.”

This strategic partnership with TRON is an on-going course of and deep collaboration that shall be extended into the long-term. Both teams shall be having fun with a pivotal place in making a protected customary for the operation of oracles and data in decentralized features to verify the perfect diploma of security and ease-of-use to rearrange the blockchain {{industry}} for mass adoption.

About TRON

TRON is dedicated to accelerating the decentralization of the net by means of blockchain know-how and decentralized features. Founded in September 2017 by Justin Sun, the company has delivered a set of achievements, along with MainNet launch in May 2018, group independence in June 2018, and TRON Virtual Machine launch in August 2018. July 2018 moreover marked the acquisition of BitTorrent, a pioneer in decentralized suppliers boasting roughly 100M month-to-month energetic prospects.

About Band Protocol

Band Protocol is a cross-chain data oracle platform that aggregates and connects real-world data and APIs to good contracts. Blockchains are good at immutable storage and deterministic, verifiable computations – nonetheless, they can not securely entry data on the market outside the blockchain networks. Band Protocol permits good contract features akin to DeFi, prediction markets, and video video games to be constructed on-chain with out relying on the one degree of failure of a centralized oracle. Band Protocol is backed by a strong group of stakeholders along with Sequoia Capital, one in every of many excessive enterprise capital firms on this planet, and the principle cryptocurrency change, Binance.

Ryan E. Dennis
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Kevin Lu
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