Sequoia-backed cross-chain information oracle Band Protocol, has joined the OpenAPI Initiative as the primary blockchain agency alongside Google, eBay and Microsoft, to attach blockchain purposes to widespread Utility Programming Interfaces (API) and streamline the alternate of information between good contracts and off-chain information sources.
“Our mission is to outline a typical API customary for blockchain purposes by collaborating with prestigious companions to bridge the hole between centralized information, APIs, and good contracts on the blockchain,” mentioned Soravis Srinawakoon, CEO and Co-Founding father of Band Protocol.
An API is a software program middleman that makes it attainable for 2 purposes to share info simply and effectively to reinforce accessibility and person expertise.
By creating a typical API customary, Band Protocol will permit blockchain purposes to simply leverage off-chain APIs and information to higher have interaction with centralized information sources and the broader expertise neighborhood, enabling expansive use circumstances of good contracts.
This is a vital step in direction of creating decentralized purposes and good contracts which are capable of reliably and securely work together with conventional centralized expertise and APIs and with one another.
“The OpenAPI Initiative standardizes how the business describes and paperwork APIs. We’re thrilled to welcome Band Protocol as the primary blockchain-based member to hitch the initiative,” mentioned Marsh Gardiner, Advertising and marketing Group Chair on the OpenAPI Initiative and Product Supervisor at Google Cloud.
The OpenAPI Initiative is a non-profit basis hosted on the Linux Basis whose members embody outstanding organizations equivalent to Google, IBM, Bloomberg, Microsoft, SAP, and Oracle, amongst others.
The initiative works to outline widespread customary APIs for use throughout totally different industries with Band Protocol turning into the primary blockchain firm to contribute to the initiative’s collaborative specs.