Google Cloud is incorporating core technology from Band Protocol, a decentralized oracle service, to enable "firsthand and accurate analysis of fiscal time series data," according to Kevin Lu, head of concern evolution at Band.

Lu appear Thursday that Ring'due south Standard Dataset is now live on Google BigQuery, an enterprise data warehouse powering ultra-fast SQL queries. Lu described the partnership as "one of the direct collaborations with the Google Deject team to enable traditional, hybrid blockchain and cloud applications to be built which use decentralized oracles."

He continued:

"Our teams are empowering researchers and developers to apply decentralized oracles for whatever external data source or type, regardless if the application is natively built on the blockchain or Web 2, through the flexible design of Band Protocol oracles."

Google Cloud has figured out how to interpret financial time serial data into real-time analytics using auto learning. That data will come straight from Band's public dataset via BigQuery.

Band launched in September 2022 as an ERC-20 token before migrating over to the Creation concatenation in June 2022. The protocol has apace emerged every bit one of the major competitors to Chainlink, the blockchain industry's leading oracle service provider. The protocol's native Ring token has enjoyed tremendous success as of tardily every bit cross-concatenation interoperability and new developments surrounding DeFi continue to lure investors.

With respect to decentralized finance, oracles play an important role in securely transmitting financial data, such as cost and trading book, to diverse blockchain networks. DeFi remains one of the biggest growth stories in all of crypto, with more than than $121 billion locked into various decentralized finance protocols at the time of writing.