Today marks a significant milestone with the launch of Band Oracle v3 Testnet Phase 2, a transformative upgrade to our decentralized oracle network. This release embodies months of rigorous engineering, community collaboration, and relentless pursuit of a scalable, secure, and open data oracle solution for blockchain ecosystems.
Revolutionizing Oracle Performance
Band Oracle v3 Testnet Phase 2 achieves unprecedented performance gains over previous versions, driven by architectural innovations:
- 3x Faster Block Times: Feed updates now occur every 1 second (down from 6 seconds), enabling near-real-time data accuracy.
- 10x Symbol Capacity: Supports a broader range of data feeds without compromising speed.
- Massive Throughput Boost: Daily transaction capacity scales exponentially, backed by decentralized Threshold Signature Scheme (TSS) for cryptographic security.
These advancements unlock new possibilities for DeFi, gaming, and real-world asset tokenization.
Enhanced Transparency with Grogu & Cylinder Telemetry
Phase 2 introduces real-time monitoring tools for critical network components:
Grogu Telemetry
Tracks price signal delivery metrics:
- Signal success rates and latency
- Validator responsiveness
- Feed-type reliability
Cylinder Telemetry
Monitors TSS signing operations:
- Signing latency and failure detection
- Proactive alerting for validator nodes
đŸ‘‰ Explore how telemetry improves network reliability
Interchain Data Tunnel Expansions
Band v3 strengthens cross-chain interoperability with new integrations:
- IBC-Hook: Enables direct price feed delivery via existing token transfer channels.
- Router Protocol: Secures data bridging for EVM and Solana chains.
- Axelar Network: Ensures verified data relay to non-IBC ecosystems.
These developments advance Band’s vision of a universal oracle for multi-chain applications.
Key Technical Enhancements
- Cylinder Standalone Commands: Execute operations without interrupting core processes.
- Block-Time Signal Submission: Improves consistency across validators.
- Automated TSS Group Selection: Simplifies validator operations.
- Dynamic Gas Adjustment: Yoda orchestrator optimizes transaction success rates.
For developers: Dive into the Band Protocol Documentation or review the v3.0.0-rc3 GitHub release.
FAQs
Q: How does Band v3 improve DeFi applications?
A: Sub-second updates and high throughput enable sharper pricing for derivatives, lending protocols, and liquid staking.
Q: What chains are supported by the Data Tunnel?
A: Currently EVM, IBC-compatible chains, with Solana support upcoming.
Q: When is the mainnet launch?
A: Targeted for Q3 2025, following rigorous testing phases.
Roadmap Ahead
- Testnet Phase 2 Analysis: Community debrief and validator feedback.
- Mainnet Preparations: Optimizations for scalability and migration.
- Q3 2025 Mainnet Launch: Decentralized oracle network at scale.
đŸ‘‰ Join Band’s mission to redefine Web3 data oracles
About Band Protocol
Band powers zero-counterparty-risk data for DeFi, gaming, and prediction markets, securing billions on-chain. Discover more at Band’s Linktree.
Be part of the decentralized data revolution.
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