Indian BeehiveNews

Multi-asset Investment Fund Woodstock to Operate Oracle Node on BandChain

New Delhi: Woodstock Fund, a specialized multi-asset investment fund focused on early and growth-stage Distributed Ledger Technology (DLT) startups and blockchain projects, today announced that they will operate a delegated-proof-of-stake node for Band Protocol’s decentralized oracle network.

Blockchains and decentralized applications are unable to communicate outside their native network and require an Oracle, a data layer for Web 3.0 applications, to do so. Band Protocol enables smart contracts to securely connect to external data sources and APIs in a reliable and decentralized manner, powering applications ranging from decentralized finance protocols such as lending and stablecoins to prediction markets and also gaming platforms.

Himanshu Yadav, Co-founder and Managing Partner, Woodstock Fund, said, “We are excited that Woodstock will be the first India focused BandChain validator node that will power the data layer for our investment portfolio and other public decentralized networks and applications.”

 

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