Google Cloud Now Supports Band Protocol For Real-Time Cryptocurrency Price Info
By Harry B - Crypto Consultant - 15-04-2021
As per Kevin Lu, head of business development at Band, Google Cloud is leveraging core technologies from Band Protocol, a decentralized oracle platform, to provide an accurate analysis of financial time series data. This also means investors can watch crypto buying prices in real time.
On Thursday, Lu revealed that Band's Standard Dataset is now available on Google BigQuery, a large data warehouse that provides ultra-fast SQL queries. Lu described the collaboration as "direct”, stating that this development will “…enable traditional, hybrid blockchain and cloud applications to be built which use decentralized oracles."
He went on to say how the versatile design of Band Protocol oracles are assisting researchers and developers to use decentralized oracles for any external data source.
Using machine learning, Google Cloud has found out how to convert financial time series data into real-time analytics. That information will be obtained directly from Band's public dataset via BigQuery. So cryptocurrency trading enthusiasts can watch the market accurately through google cloud.
Band started off as an ERC-20 token back in September 2019 before becoming the Cosmos (ATOM) chain last year in June 2020. The protocol has rapidly established itself as a major rival to Chainlink (LINK), the blockchain industry's leading oracle service provider. As cross-chain interoperability and new technologies surrounding DeFi continue to entice investors, the protocol's native BAND token has seen considerable success recently.
In terms of decentralized finance, oracles play a significant role in distributing financial data as safely as possible, this does include price and trading volume, to a large variety of blockchain networks. DeFi is now one of the best success stories currently in the crypto industry, with more than $121 billion locked into multiple decentralized finance protocols at the time of writing.
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