Band Protocol, a leading provider of oracle solutions, has announced a strategic partnership with Coreum to bridge the gap between Real World Assets (RWAs) and enterprise use cases in the Cosmos ecosystem. By collaborating with Coreum, Band Protocol aims to simplify integration and interaction across different blockchain networks, empowering developers within the decentralized landscape.
Band Protocol is renowned for its robust oracle solutions and will be integrating with Coreum to deploy its Oracle network across the Cosmos ecosystem using the innovative CW-Band library. This partnership will enhance the utility of Band’s oracles, providing developers with efficient tools to incorporate vital external data into their blockchain applications.
Coreum stands out in the tokenization of Real World Assets by adhering to the ISO20022 financial standard. This standardization enables Coreum to facilitate seamless interactions across various financial systems, improving transaction speed and reducing errors. With its Smart Tokens and smart contract functionalities, Coreum is an ideal ecosystem for businesses to digitize assets, support digital currencies, and develop sophisticated decentralized applications.
By integrating Band Protocol’s oracles with Coreum’s infrastructure, Coreum’s smart contracts will have access to real-time and reliable data, essential for operational efficiency and strategic decision-making. This data integration capability is crucial for the accurate and timely execution of smart contracts, especially those involving complex financial transactions and asset tokenizations, within the Coreum ecosystem.
The integration is powered by CW-Band, a dedicated library that facilitates the interaction between CosmWasm smart contracts and BandChain’s Oracle services. CW-Band allows developers to securely and efficiently access a wide range of real-world data, such as market prices and foreign exchange rates. This integration simplifies the development process and enhances the functionality of applications built on Coreum, leveraging the robustness of Band Protocol’s oracles.
By incorporating CW-Band, Coreum’s platform gains significant capabilities, supporting a diverse range of applications. Developers can easily integrate external data into their applications, making them more dynamic and responsive to real-world conditions. This is particularly advantageous for decentralized finance (DeFi) applications and other sectors that heavily rely on timely and accurate data.
