KEY TAKEAWAYS
- Router Protocol becomes the first Data Tunnel provider for Band Protocol’s Band v3, enhancing cross-chain price data flow.
- This collaboration utilizes the Threshold Signature Scheme to ensure secure data transmission across blockchains.
- Router Protocol’s integration with Band v3 will expand its service offerings and support blockchain interoperability.
- Band Protocol aims to decentralize its Data Tunnel network by partnering with more providers, strengthening its Web3 infrastructure.
Router Protocol has been announced as the first Data Tunnel provider for Band Protocol’s upcoming Band v3, marking a significant advancement in cross-chain price data flow. This collaboration aims to enhance the seamless relay of aggregated price feeds across blockchains using the Threshold Signature Scheme (TSS), a cryptographic method that ensures secure data transmission.
Data Tunnels, a core feature of Band v3, are designed to efficiently transmit price feeds from BandChain’s Concurrent Price Stream to various blockchains and smart contract platforms. With Router Protocol’s expertise in blockchain interoperability, this partnership aligns with Band v3’s vision of creating an open data oracle accessible to all.
Enhancing Blockchain Interoperability
Upon the launch of Band v3, Router Protocol will provide instant access to Band Price Oracles for developers and users. This integration is expected to expand Router Protocol’s service offerings by incorporating Band v3 Price Oracles into its interoperability solutions. Developers are encouraged to explore the Band v3 testnet to experience the capabilities of the Data Tunnel feature ahead of its official release.
Router Protocol’s technology is fully compatible with Cosmos, enabling seamless communication between Band Protocol and Router Protocol via IBC and CosmWasm. This compatibility ensures smooth integration and supports the mission of both entities to provide reliable and cost-effective tools for developers.
Future Collaborations and Developments
Band Protocol plans to expand its Data Tunnel network by collaborating with more providers, further decentralizing and strengthening the network. This initiative is part of Band Protocol’s commitment to building a decentralized data infrastructure that meets the growing demands of the Web3 ecosystem.
As Data Tunnels continue to develop, updates and clarifications on specific features are expected. Developers and users are invited to keep track of Band v3’s progress as it aims to redefine the landscape of blockchain data oracles.
For more information, the official announcement can be found here.
Explore More News:
Disclaimer: The views expressed in this article are those of the authors and do not necessarily reflect the official policy of CoinsHolder. Content, including that generated with the help of AI, is for informational purposes only and is not intended as legal, financial, or professional advice. Readers should do their research before taking any actions related to the company and carry full responsibility for their decisions.
