South Korea’s main blockchain community ICON has introduced a partnership with Chainlink rival BAND, which has gained a variety of momentum not too
South Korea’s main blockchain community ICON has introduced a partnership with Chainlink rival BAND, which has gained a variety of momentum not too long ago.
The partnership will present ICON builders with full entry to the BandChain decentralized oracle community to make the most of numerous information and value feeds, based on the announcement.
Decentralized purposes and DeFi ecosystems depend on correct value and information feeds, or oracles, to operate. The Band Protocol is an rising decentralized platform that aggregates and connects real-world information to sensible contracts.
ICON is deeply rooted in South Korea, shaping itself because the blockchain developer for the federal government. The platform operates a community of established enterprises and authorities companies together with banks, telecoms firms, and healthcare suppliers, and gives blockchain options and growth to swimsuit their wants.
By means of its expertise arm, ICONLOOP, it has labored on digitizing nationwide id authentication and decentralized passports. Now that it’s increasing into the rising dApp and DeFi markets, ICON requires oracles for its newest tasks.
Min Kim, founding father of the ICON Community, stated:
“The strategic partnership and integration with Band Protocol to the ICON Community will carry elevated safety and scalability to all of the decentralized purposes constructed on South Korea’s largest blockchain challenge.”
Band Battles Chainlink
Chainlink is probably the most dominant Oracle supplier in the mean time, with main partnerships together with Google Cloud, Binance, Matic Community, Ethereum Basic, and the 0x Venture. Its LINK token has been considered one of this yr’s greatest performers, surging 325% from $1.80 on January 1st to in the present day’s value of $7.65.
However there’s rising consciousness of competitor Band Protocol that has inked partnerships with Waves, DeFi and staking app Frontier, decentralized gaming platform BetProtocol, and cross-chain interoperability protocol Gravity Hub.
The BAND token has surged in value this yr — with many of the positive factors up to now month on the again of the DeFi growth. BAND has skyrocketed over 2,170% from $0.22 at the start of the yr to an all-time excessive of simply over $5 in the present day.
Each tokens had been performing effectively on the time of writing with LINK gaining 6.5% on the day, and BAND notching up a rise of slightly below 10% over the previous 24 hours.