In an vital improvement, Secret Community has introduced the completion of the implementation of Band Protocol to empower its community with decentralized oracle options associated to information. Given the great protection of Band Protocol that helps entry to greater than 175 feeds, builders of Secret Community will get the distinct benefit of utterly trusted information from the home of Band Protocol. 

This integration will show useful for creating purposes within the decentralized finance (DeFi) house. The assist of oracle information will likely be prolonged throughout classes, with among the outstanding ones being commodities, overseas change charges, and cryptocurrencies. The info set supplied by Band will empower builders by providing them entry to quite a lot of worth feeds together with costs of overseas change charges, commodities, and cryptocurrencies. What makes this oracle-based information much more enviable is the excessive security and safety features related to these options.

The importance of the partnership lies in the truth that by this integration, builders will now have entry to information from different sources that aren’t a part of the ecosystem developed by Secret Community. This has change into doable as a result of onboarding of BandChain, an off-chain information community of Band Protocol which aggregates information from a wide range of sources and makes it out there in a totally protected method. The mixing will present a contemporary impetus to the event of purposes which are particularly centered on insurance coverage, derivatives, credit score scoring, and information marketplaces, amongst others. 

To maintain the information genuine and dependable, the worth discipline generated by Band Protocol is the same as the median of the values that the community obtained from its sources, together with Binance, CoinOne, CoinGecko, Bittrex, and OKEX. Along with accessing these costs, builders may also know when the information is final up to date. This additional enhances each the reliability and validity of information moreover assuring builders of the authenticity of the information.