Fund expands in the Indian blockchain ecosystem
Woodstock Fund is the first India focused BandChain validator node that will power the data layer for investment portfolio and other public decentralized networks and applications.
“Alongside a portfolio of leading blockchain projects such as Elrond, Holo, Marlin Protocol, Casper Labs, Woodstock has been a long-term supporter of Band Protocol as a private investor and strategic partner to help expand its global footprint, especially into the rapidly growing Indian blockchain ecosystem,” said Himanshu Yadav, Co-founder and Managing Partner of Woodstock Fund, said on 20 July 2020.
“Band token has also been recently listed on one of the largest Indian exchanges #WazirX,” he added.
“Woodstock operating a validator node on #BandChain will allow the Indian and global community to contribute to the BandChain decentralize oracle network under a trusted and reliable entity,” said Band Protocol CEO Soravis Srinawakoon.
“This will open the doors to a truly global permissionless data layer that supports all blockchain applications and smart contract platforms,” added Srinawakoon.
A specialized multi-asset investment fund focused on early and growth-stage Distributed Ledger Technology (DLT) startups and blockchain projects, Woodstock has operating teams in India, the Philippines and Singapore.
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.
Band Protocol is a cross-chain data oracle platform that aggregates and connects real-world data and APIs to smart contracts. Blockchains are great at immutable storage and deterministic, verifiable computations – however, they cannot securely access data available outside the blockchain networks.
Band Protocol enables smart contract applications such as #DeFi, prediction markets, and games to be built on-chain without relying on the single point of failure of a centralized oracle.
Band Protocol is backed by a strong network of stakeholders including Sequoia Capital, one of the top venture capital firms in the world, and the leading cryptocurrency exchange, #Binance.
Woodstock works at the intersection of technology and value creation alongside its portfolio companies to help them scale and grow their ecosystem. The portfolio companies include #Holochain, #Elrond, #Casper Labs, Brand Protocol and Marlin Protocol. Woodstock has operating teams in India, the Philippines and Singapore. #technologies #woodstockfund #funds #investment #startups #fintech #blockchain /fiinews.com
