Band Protocol Partners with Digital Asset Data Company Brave New Coin to Bring Decentralized Price Reference Data to DeFi
Band and BNC bring globally weighted average spot prices for 1500+ digital assets to decentralized oracles
BANGKOK/AUCKLAND, Nov. 23, 2020 (GLOBE NEWSWIRE) -- (via Blockchain Wire) Brave New Coin (https://bravenewcoin.com/), a leading data analytics and research company backed by Techemy Ltd, has joined forces with Sequoia-backed cross-chain data oracle platform Band Protocol to bring decentralized price reference data to the rapidly growing smart contract application ecosystem.
Band Protocol and Brave New Coin will work together to bring the globally weighted average spot prices for up to 1500+ digital assets through the BandChain decentralized oracle network. This will allow smart contract developers to readily integrate and utilize these spot price oracles on any blockchain platform. Band Protocol has already been integrated by leading smart contract platforms including Ethereum, Binance Smart Chain, Cosmos, Polkadot, ICON, Waves, and Matic Network.
“Brave New Coin is an early adopter and supporter of DeFi protocols, having launched the first crypto pricing data oracles for smart contracts in 2016,” said Fran Strajnar, CEO of Brave New Coin. “More recently, Brave New Coin has launched a tradable DeFi Index, of which the BAND token is a constituent. Together with Techemy Group, Brave New Coin and Band Protocol are leading the way in bringing scalable, decentralized and non-custodial products and solutions for trading, investment and analysis for smart contract developers to seamlessly utilize.”
“Working with established and reputable enterprises such as Brave New Coin will be pivotal to Band Protocol’s success as we collaborate to provide a commercial solution that protects intellectual property and data privacy while enabling the smart contract world to interact with external data sources,” said Soravis Srinawakoon, CEO and Co-Founder of Band Protocol.
This long-term partnership will also enable premium data source owners with paywalls such as Brave New Coin to automatically collect revenue on-chain starting next year. Band Protocol's flexible oracle design benefits all stakeholders by allowing developers to create custom-made oracles with web APIs within minutes as well as enabling enterprises to commercialize their data by creating premium oracles for developers to integrate.
The Global Weighted Average Spot Price (GWA) provided by Brave New Coin works by providing a fair price for any tracked digital asset from near real-time trading across a global network of top crypto exchanges. With intraday, end of day price and volume inputs updated at a 30 second tick interval, developers in decentralized finance will be well equipped to build trustless applications using an independent, reliable, third-party price discovery oracle.*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.
*About Brave New Coin*
Brave New Coin (https://bravenewcoin.com/) (BNC) is a data and research company focused on the blockchain and cryptographic assets industry. Founded in 2014, BNC provides data, analysis and research to a global network of market participants. Brave New Coin supplies spot-pricing, index solutions, research and news both aggregate and proprietary, via partners such as Amazon Alexa, Dow Jones Factiva, NASDAQ, Refinitv, RapidAPI and dozens more. The company’s experience and expertise make it the leading provider of standard and non-standard institutional grade, highly compliant, data solutions. BNC Pro leverages its experience and data into a user-friendly dashboard solution.
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