Cosmos blockchains may now <a href="https://blog.cosmos.network/defi-oracle-band-protocol-boosts-interoperability-within-the-cosmos-ecosystem-e65f655fafd5" target="_blank" rel="nofollow noopener">access </a>a plethora of data streams made available via the decentralized (DeFi) <a href="https://coinmarketcap.com/alexandria/article/oracles-the-all-seeing-eye-that-guides-crypto-networks" target="_blank" rel="nofollow noopener">Oracle </a>Band Protocol.
<h2>Cosmos Blockchains Engage With DeFi Oracle Band Protocol</h2>
Cross-chain data oracle band protocol announced its engagement with a Cosmos blockchain Starport development tool that enables third-party to accomplish different new data feeds.

As a result of this collaboration in the Cosmos environment, freshly constructed chains will be able to communicate data via the interoperability standard known as inter-blockchain communication protocol, or IBC.

[embed]https://twitter.com/cosmos/status/1418218616508403719[/embed]

In a press statement, a developer from Brand Protocol explained, "Until recently, IBC was largely utilized for asset transactions." 

The addition of the Band module to the Starport architecture allows third-party Cosmos developers to have access to decentralized data such as token information, real-world events, sports, weather, random number generation, and more.

“Together with Cosmos, we are developing a complex infrastructure for blockchains to interact in dynamic ways, well beyond token transfers,” Band Protocol CEO and co-founder Soravis Srinawakoon told in an email conversation.

According to the announcement, the agreement means that Band Protocol is the first oracle to be accepted as a standard in Starport, enabling blockchains in the Cosmos ecosystem "even more linked and interoperable than ever before."
<h2>Introducing cBridge For Interoperability On Top Of State Channels</h2>
Celer's multi-chain network, cBridge v1.0, is live on mainnet today, according to a press statement shared. It revitalizes Celer Network's state channel design.

Celer's cBridge enables token transfers between the Ethereum mainnet, Arbitrum, <a href="https://www.cryptoknowmics.com/news/polygon-reveals-new-division-dedicated-to-blockchain-gaming-and-nfts/">Polygon</a>, and Binance Smart Chain. The latest version improves the speed and scalability of interaction between Ether's Layer 1 and Layer 2.
<h2>Who Can Access To cBridge?</h2>
The mainnet version of cBridge v1.0 is a complete package containing both node software and a user interface.

Celer Network (CELR) cites a slew of applications for its new solution. First and foremost, it is the quick and cost-effective value transfer across multiple Layer 2 solutions without any need to return to Ethereum's Layer 1. Then, cBridge enables multi-hop asset deposit/withdrawal into Ethereum's Layer 1 through multiple Layer 2 solutions. 

As a result, the newly released solution's net bandwidth improves by 1000x.
<h2>Oracle Protocol And The Cosmos Ecosystem</h2>
The Cosmos ecosystem was <a href="https://www.cryptoknowmics.com/news/cosmos-introduces-inter-blockchain-communication-to-allow-cross-chain-defi/" target="_blank" rel="nofollow noopener">created </a>to be an “Internet of Blockchains,” in which any decentralized network can connect, share data, and transact with any other.

Decentralized oracles are a form of middleware that collects and transmits real-world data to blockchain networks. Oracles typically obtain data from numerous sources and are not controlled by a single organization, which adds an extra degree of data protection.

&nbsp;

Cosmos 'Internet of Blockchains' Engage With DeFi Oracle Band Protocol

Cosmos blockchains may now access a variety of data streams made accessible via the decentralized (Defi) Oracle Band Protocol.

Kavya Barua is a voracious learner who is fascinated by crypto and Fintech advancements. Graduated from Janki Devi Memorial College's B.A (Hons) English program at the University of Delhi. She aspires to be a successful professional, having a keen interest in learning and achieving results.

Cosmos 'Internet of Blockchains' Engage With DeFi Oracle Band Protocol

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