THELOGICALINDIAN - n-a
Binance has announced today the abutment for Band Protocol’s answer belvedere on its exchange. Smart affairs application Band Protocol will now accept admission to alive amount abstracts from Binance’s 600 cryptocurrency pairs.
The arrangement facilitates cross-chain affairs that await on alien data, such as peer-to-peer bill exchanges. Band Protocol’s OpenAPI allows acute affairs to broadcast advice about a transaction to addition blockchain, provided that both parties are affiliated to the oracle.
One of the abeyant use-cases for this technology is abating admission to BNB for Ethereum’s ecosystem of dApps. Following the barrage of Binance Chain, the ERC-20 adaptation of Binance Coin was deprecated. The alone way to bandy ETH with BNB was by application centralized exchanges. The affiliation with Band Protocol restores the adeptness to bandy tokens after absolute intermediaries.
Band Protocol’s CEO, Soravis Srinawakoon, sees this affiliation as a dispatch bean to facilitate the advance of the Decentralized Finance space:
“We are aflame to assignment with Binance to accomplish the affiance of DeFi a absoluteness through our OpenAPI. This enables anyone to actualize decentralised applications that can use Binance’s 600 crypto abstracts which is a abundant antecedent of amount discovery. What’s best agitative is that this will accessible doors for added accounts and action use cases to appear as our belvedere can affix to any accessible API online,” he said.
Binance’s absolute amount feeds add to a host of ahead on-boarded abstracts providers, such as CoinGecko and DeSquare.
Ontology announced a collaborative affiliation with Chainlink to accompany data-driven acute affairs to back-end business models.
Ontology, a arrangement advised to accommodate a band of blockchain privacy, partnered with Chainlink, an Ethereum-based agent belvedere for added security, in adjustment to assignment about the “oracle problem.”
An answer allows off-chain abstracts to collaborate with acute contracts. This barter of data, however, poses a aegis risk, which is the adeptness of the answer to admission data, as able-bodied as to ascendancy how acute affairs acknowledge to output. The assimilation of Chainlink adds a decentralized answer arrangement which provides defended and reliable admission to advice on the Ontology platform.
The Partnership
Chainlink’s decentralized arrangement provides admission to acquittal systems, abstracts and billow providers, API’s, IoT devices, and added blockchain-related services. Additionally, Chainlink’s software and alien adapters acquiesce for data-exchange affinity amid two altered systems. According to the announcement:
“[Chainlink is] an all-in-one arrangement for users to adapt how their arrangement communicates with annihilation off-chain application capricious levels of decentralization, abstracts aggregation, and answer selection.”
Ontology is a multi-chain activity and broadcast accord platform. The affiliation with the Chainlink arrangement will acquiesce Ontology users to adapt how their acute affairs acquaint with off-chain connections. Ontology believes this affiliation will accommodate developers in their ecosystem assorted use case opportunities with Chainlink’s off-chain affiliation capabilities.
