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Integration

Band Protocol x Cronos zkEVM: Streamlining Developer's Environment and Tools for Zero-Knowledge Proof Ecosystem

We are delighted to share the integration of Band Oracle on the Cronos zkEVM testnet. This technical work underscores our commitment to bringing Band Price Feeds to zk-based chains and stacks, while also highlighting Cronos’s continuous efforts to enhance its infrastructure.

Band Protocol x Cronos zkEVM: Streamlining Developer's Environment and Tools for Zero-Knowledge Proof Ecosystem
Band Protocol x Cronos zkEVM: Streamlining Developer's Environment and Tools for Zero-Knowledge Proof Ecosystem

We are delighted to share the integration of Band Oracle on the Cronos zkEVM testnet. This technical work underscores our commitment to bringing Band Price Feeds to zk-based chains and stacks, while also highlighting Cronos’s continuous efforts to enhance its infrastructure. Our alliance aims to create a more developer-friendly environment where data is accessible to everyone.

We began collaborating with Cronos in 2021, with BandChain empowering the Cronos ecosystem from the beginning. This integration on the zkEVM testnet marks a significant milestone in our shared mission to innovate and expand blockchain capabilities. By combining our strengths, we aim to provide developers with the tools to build efficient, secure, and scalable decentralized applications.

Today, we invite you to explore the details of this integration and discover its impact on the broader blockchain ecosystem as we continue to drive innovation and adoption in the world of decentralized technology.

What is Cronos zkEVM: A Brief Introduction

Cronos zkEVM is a Layer-2 solution designed to enhance blockchain applications’s scalability, security, and compatibility with zero-knowledge proofs (zk), ensuring faster transaction processing and reduced costs and making it an ideal choice for developers looking to build efficient and secure decentralized applications (dApps). Fully compatible with the Ethereum Virtual Machine (EVM), Cronos zkEVM allows seamless integration with existing Ethereum-based dApps and smart contracts. It promotes interoperability and expands the capabilities of decentralized finance (DeFi) and other blockchain innovations, making it a valuable asset for developers and users seeking robust and scalable infrastructure. The Cronos zkEVM will feature a strong #CROfam community, yield-bearing assets, account abstraction, and shared liquidity across ZK Stack chains.

Band Protocol on zkEVM: Why Does it Matter?

The integration of Band Protocol with Cronos zkEVM represents a continued expansion of our oracle services into the zk-based ecosystem. Building on our prior experiences with zk-based chains, this implementation enhances data integrity and reliability for Cronos zkEVM while providing us with further insights to refine and expand Band Price Feed's compatibility with other zk chains. Accurate and timely data is crucial for executing smart contracts, particularly in DeFi applications where financial transactions depend on precise information. Additionally, the scalability and cost-efficiency offered by zkEVM allow developers to build more efficient dApps without compromising security or performance. This integration reinforces our commitment to support a robust and trustworthy decentralized ecosystem, leveraging our expertise to benefit a wider range of ZK-based platforms.

Integration of Band Oracle on Cronos zkEVM

The integration of Band Oracle on Cronos zkEVM involves a series of coordinated steps to ensure that reliable and accurate data is provided to decentralized applications (dApps) on the network. Here’s a detailed explanation based on the provided image, which outlines the workflow:

Workflow: The integration of Band Oracle on Cronos zkEVM
  1. Access External Data Sources (Exchanges, Markets): Band Oracle aggregates data from multiple external sources, including exchanges and market data providers. These sources include well-known platforms like CoinMarketCap, CoinGecko, Binance, and others, ensuring diverse and comprehensive data coverage.
  2. Aggregate & Apply Security Measures (Consensus Mechanisms): The collected data is then aggregated and subjected to security measures using BandChain’s consensus mechanisms. This step ensures that the data is accurate, tamper-proof, and reliable before it is relayed further.
  3. Securely Relay Data: Once the data has been aggregated and verified, it is securely relayed to Band Standard Reference Contracts. This process ensures that the data remains secure and unaltered during transmission.
  4. Read Symbol (e.g., BTC/USD, ETH/USD): The dApps on Cronos zkEVM can then read the specific symbols or data points they require (e.g., BTC/USD, ETH/USD) from the Band Standard Reference Contracts. This allows dApps to access real-time and accurate price feeds and other data.
  5. Send Price Data Back to dApp: The retrieved data is then sent back to the requesting dApp. This data can be used in various ways, depending on the application’s requirements, such as for pricing assets, executing trades, or automating processes based on real-time data.
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Key Takeaway:
This detailed integration process ensures that dApps on Cronos zkEVM can access reliable, secure, and real-time data feeds from Band Oracle, significantly enhancing their functionality and performance.

Delivering Values to Cronos and its dApps

Deploying Band Price Feed to Cronos zkEVM strengthens the chain and brings significant benefits to Cronos by:

  • Enhancing Data Reliability: Band Oracle provides highly reliable and accurate data feeds, which are critical for the proper functioning of smart contracts.
  • Increasing Scalability: Leveraging the scalability of Cronos zkEVM, Band Oracle can handle a high volume of data requests with minimal latency, making it ideal for real-time applications.
  • Strengthening Security and Trust: The integration combines Band Protocol’s secure data oracles with Cronos zkEVM’s robust security features, minimizing data manipulation risks.
  • Fostering Dev-Friendly Environment: A comprehensive suite of tools and resources, including developer documentation and SDKs, simplifies the integration and usage process for Cronos developers.

These benefits collectively enhance the functionality and reliability of applications built on Cronos zkEVM, enabling a wide range of real-world applications such as decentralized finance (DeFi) platforms, NFT marketplaces, and prediction markets.

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Key Impact:
This integration is poised to drive innovation and adoption within the blockchain space, specifically targeting the zkEVM space, and paving the way for more secure, scalable, and data-driven applications.

Building Developer-Friendly Environment Together!

The integration of Band Oracle with Cronos zkEVM is designed with developers in mind. By unlocking Oracle optionality on Cronos zkEVM, we are creating a welcoming environment for developers, especially those looking to build DeFi applications. This integration enables them to build and deploy applications with ease and efficiency. This flexibility allows developers to choose the best data sources for their specific needs, fostering a more innovative and dynamic ecosystem. If you are a developer interested in building on Cronos zkEVM and using Band Oracle in your dApps, these following resources are a good start!

import interfaces/IStdReference.sol;
contract DemoBulk {
    IStdReference public ref;
    constructor(IStdReference _ref) public {
        ref = _ref;
    }
    function demo_bulk() external view returns (IStdReference.ReferenceData[] memory) {
        return ref.getReferenceDataBulk(["BTC", "ETH"], ["USD", "BTC"]);
    }
}

Query the price of BTC/USD and ETH/BTC

Invitation to Join Our Developer Communities

We also invite you, developers, to join both the Band Protocol and Cronos communities to actively participate in the development process and provide valuable feedback. Your insights and contributions are crucial to the success of this integration and the continuous improvement of the ecosystem. Join our community to stay updated, collaborate, and contribute:

Band Protocol Technical Support

Cronos Technical Support

Upcoming Milestones and Future Plans for the collaboration between Band Protocol and Cronos zkEVM

Moreover, we are excited to announce several upcoming milestones and plans as part of the Band Protocol and Cronos zkEVM collaboration:

  • Onboarding More dApps: We aim to onboard more decentralized applications (dApps) to Cronos zkEVM, leveraging Band Protocol’s oracle to enhance data reliability and security across the ecosystem.
  • Introduction of Band VRF to Cronos Ecosystem: Following this successful oracle integration, our next step in this collaboration will be introducing Verifiable Random Function (VRF) capabilities to the Cronos ecosystem. This will enable applications, particularly in gaming and betting, to utilize provably fair random number generation, significantly enhancing trust and functionality.
  • Mainnet Integration: A major milestone on the horizon is the mainnet integration of Band Protocol on Cronos zkEVM, bringing all the benefits of our collaboration to a broader audience, pushing out real use cases, and ensuring robust and scalable solutions for developers and users alike.

Conclusion

The integration of Band Oracle on Cronos zkEVM is a testament to the strong commitment and aligned mission of both Band Protocol and Cronos to enhance the blockchain ecosystem. Together, we are dedicated to creating a more developer-friendly environment, providing reliable and scalable infrastructure, and driving innovation within the decentralized space.

Our ongoing collaboration will continue to break new ground, offering developers the tools and support they need to build next-generation applications. This integration is just the beginning, and we are excited to see the transformative impact it will have on the broader blockchain community.

About Cronos

Cronos (cronos.org) is a leading blockchain ecosystem, partnered with Crypto.com and over 500 application developers and contributors, serving an addressable user base of over a hundred million people worldwide. Cronos' mission is to facilitate easy and safe adoption of self-custody in Web3 for the next billion crypto users, with a strong focus on Decentralized Finance (DeFi) and Gaming.

More about Cronos: Discord, Twitter, Telegram, and Website

About Band Protocol

Band Protocol is a cross-chain data oracle platform with the aspiration to build high-quality suites of web3 development products. The flagship Oracle solution aggregates and connects real-world data and APIs to smart contracts, enabling smart contract applications such as DeFi, prediction markets, and games to be built on-chain without relying on the single point of failure of a centralized oracle.

More about Band Protocol: https://linktr.ee/bandprotocol

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