Band Protocol’s Main Network Upgrade: Everything You Need to Know
It is reported that the cross chain oracle machine Band Protocol has voted to upgrade the BandChain main network to v2.5, which is expected to be upgraded at the block height of 16
It is reported that the cross chain oracle machine Band Protocol has voted to upgrade the BandChain main network to v2.5, which is expected to be upgraded at the block height of 16562500 (22:00 on April 27, Beijing time). Upgrades include upgrading ibc-go to v4.3.0, cosmos-sdk to v0.45.15, tendermint (cometbft) to v0.34.27, and support for bandd static link binaries.
The BandChain main network is expected to be upgraded to v2.5 on April 27th
Band Protocol, the cross chain oracle machine, is set to undergo a major upgrade on its main network, BandChain. This upgrade to v2.5 is expected to take place at block height 16562500 on April 27th at 22:00 Beijing Time. The upgrade will include several important changes, including the upgrading of ibc-go to v4.3.0, cosmos-sdk to v0.45.15, tendermint (cometbft) to v0.34.27, and the addition of support for bandd static link binaries. In this article, we will dive into the details of this upgrade and what it means for the future of Band Protocol.
What is Band Protocol?
Band Protocol is a decentralized oracle platform that links off-chain data to on-chain smart contracts. It aims to solve the issue of data access for smart contracts by creating a secure and reliable way for blockchains to query external data. Utilizing Band Protocol allows developers to build more complex and feature-rich decentralized applications.
What is an Oracle Machine?
An oracle machine is a software tool that allows smart contracts to interact with data and information outside of the blockchain it resides on. Traditionally, smart contracts can only rely on data that is stored on the blockchain, which limits their functionality. Oracle machines, like Band Protocol, solve this issue by creating a bridge between the world of blockchain and the larger ecosystem of data and information.
What are the Upgrades in v2.5?
The upgrades in v2.5 are essential for Band Protocol to continue to provide reliable and efficient services to developers and users. Here are the primary upgrades included:
– Upgrading ibc-go to v4.3.0: This enables the efficient flow of information between BandChain and other blockchain networks and is a critical upgrade for interoperability.
– Upgrading cosmos-sdk to v0.45.15: This is the backbone of the BandChain network and includes many bug fixes and performance improvements.
– Upgrading tendermint (cometbft) to v0.34.27: This is BandChain’s consensus algorithm and ensures the network is secure and efficient.
– Adding support for bandd static link binaries: This provides better security and improves the network’s accessibility for users.
What are the Benefits of the Upgrade?
The upgrade to v2.5 brings several benefits to the Band Protocol network. With ibc-go v4.3.0, BandChain can now communicate more efficiently with other blockchain networks. Upgrading cosmos-sdk ensures the security and efficiency of the base layer of the network. The upgrade to tendermint (cometbft) brings enhanced security and reliability to the consensus mechanism. Finally, adding support for bandd static link binaries ensures the network remains accessible and user-friendly.
What Does This Mean for Developers and Users?
The upgrade to v2.5 brings no interruptions to the Band Protocol network’s operations. For developers and users, there is no need to perform any actions during the upgrade. After the upgrade, developers and users will have access to a more secure and optimized network, which will allow continued development and use of complex decentralized applications. The upgrades will ensure Band Protocol’s network’s sustainability and scalability, making it a more reliable and efficient solution.
Conclusion
Band Protocol’s upgrade to v2.5 is an essential step in providing developers and users with a secure and efficient solution for building and using decentralized applications. The upgrades to ibc-go, cosmos-sdk, and tendermint, along with the addition of support for bandd static link binaries, will enhance the network’s performance, scalability, and security. With the continued development of Band Protocols’ network, we can expect to see even more innovative solutions built on this promising platform.
FAQs
1. Will the upgrade to v2.5 cause any interruptions in the Band Protocol network’s operations?
No, the upgrade will not cause any interruptions to the Band Protocol network’s operations.
2. What are the primary upgrades included in the v2.5 upgrade?
The primary upgrades included in the v2.5 upgrade are the upgrading of ibc-go to v4.3.0, cosmos-sdk to v0.45.15, tendermint (cometbft) to v0.34.27, and the addition of support for bandd static link binaries.
3. What benefits will the v2.5 upgrade bring to Band Protocol’s network?
The v2.5 upgrade will bring several benefits to Band Protocol’s network, including improved network interoperability, enhanced security, and better accessibility for users.
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