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- Google Cloud Public Data incorporates Band Protocol to avail an immediate and accurate real-time analysis of financial data.
- The merge will enable developers to use decentralized oracles to create traditional, hybrid blockchain and cloud applications.
- Using the Machine Learning function, the Google Cloud will accurately analyze the Band Protocol provided time-series financial data in real-time.
Google Cloud integrates the Cosmos-based decentralized data oracle platform, Band Protocol, into its big data analysis service, BigQuery. Band Protocol’s core technology has been incorporated in Google Cloud Public Data to avail an immediate and accurate real-time analysis of financial data.
Band and Google Merger
Announced Thursday, through a blog post, the head of business development and growth at Band Protocol, Kevin Lu, disclosed the merger. Describing the partnership as “one of the direct collaborations” that will let developers use decentralized oracles to create traditional, hybrid blockchain and cloud applications.
What the Collaboration Intakes?
Teams of both the collaborative halves aspire to help developers use decentralized oracles for all external data sources and types. Band Protocol flexible-design oracles will ensure a seamless data delivery to developers irrespective of whether the application is built on the native blockchain or web 2-based. Simultaneously the Google cloud team will provide a Keras model, where an LSTM neural network is implemented to detect price feed anomalies.
The integration includes specific distribution of tasks to both entities. Band Protocol is to provide the time-series financial data directly from its public dataset through the enterprise data warehouse, Google BigQuery. And then, Google Cloud will accurately analyze the provided data in real-time using the Machine Learning function.
Band Protocol: the advancing success rate
The Band Protocol is a decentralized data oracle platform that delivers collective real-world data to smart contracts. In a blockchain, the ability to input external data into the network is called an oracle, which plays a significant role in the secure transmission of financial data, especially in DeFi networks. The protocol’s native BAND token has proved to be very successful as of late. With cross-chain interoperability and new developments in DeFi, the volume increase in investors has raised Band as one of the major competitors to Chainlink, the leading oracle service provider in the blockchain industry.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
