Band Protocol Enters Into Partnership With Staking Service Provider HashQuark
Web 3.0 focused decentralized oracle network Band Protocol announced its partnership with one of Asia’s largest staking service providers, HashQuark. As per the official tweet on Wednesday, HashQuark currently runs over 40 nodes across premier blockchains, including Cosmos, Tezos, IRIS Network, and Dash.
1/ $BAND has partnered with one of the largest staking service providers in Asia, @HashQuark, that runs nearly 40 nodes across top blockchains including @Cosmos, @Tezos, @IRISnetwork, and @Dashpay.https://t.co/O0TNL4ll04
— Band Protocol (@BandProtocol) April 29, 2020
In a subsequent tweet in the thread, Band Protocol stated that HashQuark is staking service arm of the Hong Kong-based HashKey Digital Asset Group, which also happens to be a strategic partner of Wanxiang Blockchain, one of the top 500 companies in China. It further added that HashQuark uses security services on multiple cloud services for institutional and retail clients.
Commenting on the partnership, HashQuark CEO Leo Li said,
The blockchain space is ever-growing and the safety of decentralized applications have never been more important. We expect Band Protocol to become a leading oracle solution and have chosen to support the project due to their solutions on major oracle issues to date such as delayed data and network congestion. This is the first oracle project to meet the demands of a real-time data request and implement a working staking model.
Band Protocol co-founder and CEO Soravis Srinawakoon stated that working with Asia’s largest staking service provider will give the platform developmental strength and BandChain decentralization that the company requires before the launch of the mainnet.
We are grateful to have the strategic support of HashQuark as we grow the adoption and use-cases of decentralized applications in China and across Asia with HashQuark expertise.
HashQuark provides staking services to public chains built on PoS and DPoS protocols and allows the tokens to store and receive staking rewards in return for storing their digital assets in their accounts. It has partnered with some of the most prominent crypto wallets and exchanges in the world to offer staking services to their users. On the other hand, Band Protocol is a cross-chain data oracle network that aggregates, connects real-world data and APIs to smart contracts. In short, it provides smart contracts the access to data that isn’t available on blockchain networks.