Band Protocol

Overview of Band Protocol

  • Band Protocol is currently securing ~$4.5 Billion in value locked in smart contracts with major DeFi players including Venus Protocol, Mirror Protocol, Linear Finance among many others as well as providing support for leading blockchain platforms Ethereum, Binance Smart Chain, Fantom, ICON, Waves, Nervos, Elrond and more.
  • Band Protocol has a market cap of $ 484,024,315, which compares to Bitcoin (the most popular cryptocurrency by several metrics) with a market cap of $ 997,710,717,729, Litecoin at $ 16,943,458,158, Ethereum at $ 317,748,827,183, Tether at $ 51,121,734,641, and XRP at $ 63,781,062,169.
  • Band Protocol’s flexible oracle design benefits all stakeholders by allowing developers to create custom-made oracles with web APIs within minutes as well as enabling enterprises to commercialize their data by creating premium oracles for developers to integrate.
  • Band Protocol is proud to have our CTO, Sorawit Suriyakarn, and Technical Integration Lead, Tansawit, join Delphi_ Digital and IDEOcolab as a key mentor and oracle partner for #DeFi Connected — one of the largest online hackathon and incubation programs.
  • Band Protocol enables smart contract applications to be built on-chain with full flexibility for developers to specify their data type, data sources, and aggregation method without relying on the single point of failure or a centralized oracle.
  • Band Protocol (BAND), a cross-chain data oracle platform that aggregates and connects real-world data and APIs to blockchain based smart contracts, is preparing to launch on Coinbase Pro, a digital asset exchange for professional traders.
  • The Band Protocol is built on the Cosmos SDK, makes use of seemermint’s Byzantine Fault Tolerant (BFT) consensus mechanism, and enjoys connectivity to other blockchains via Cosmos’ Inter-Blockchain Communication Protocol (IBC).
  • Band Protocol supports unrestricted access to 150+ price feeds, empowering the next generation of Secret DeFi dApps and tools by connecting trusted off-chain data from institutional providers, directly to Secret Network.
  • Band Protocol began in the mind of Soravis Srinawakoon, a Forbes 30 under 30 entrepreneur with Stanford as his alma mater (undergraduate AND masters!) and Boston Consulting Group on his resume.
  • Band Protocol and Brave New Coin will work together to bring the globally weighted average spot prices for up to 1500-plus digital assets through the BandChain decentralized oracle network.

    • Blockchain

                In a bid to transform the company and fulfill finance functions of the future while strengthening its blockchain capability, SCB Group tech holding company SCB 10X recently announced another milestone by becoming one of the node validators on a blockchain network operated by Band Protocol, Thailand’s number one data oracle blockchain developer and a global DeFi developer.The collaboration will see SCB 10X taking part in validating and confirming blockchain-based financial transactions with other network nodes to increase security and transparency, ensuring the integrity of every financial transaction entered into the blockchain.This deal marks the first time in Asia that a financial group company has engaged in real involvement in providing decentralized financial services (DeFi), reaffirming the company’s readiness for the finance of the future.

    Mine

    .For example, DeFi apps can query volume-weighted price feeds from centralized and decentralized exchanges with Band Protocol to use as reference data to determine token swap rate or to detect price deviations from other oracles.Prediction market and gambling Dapps can use real-world event feeds from Band Protocol to resolve smart contract logics..

    Network

    We have implemented retry logic to resend transactions with a bump in gas prices in case of network congestions, ensuring that at all time new price updates can be retrieved by Band Protocol partners.

    Support

    The best way to do this is by participating in the upcoming Cross-Chain Hackathon alongside Agoric, Cosmos & the Band Protocol team who will be providing workshops, live streams, and technical support for all developers who will have the chance to win over $24K in total prizes!

    Transactions

    As dapp makers look to alternative blockchains for faster transactions and lower costs, Band Protocol could be an essential tool to enable a broader dapp ecosystem beyond Ethereum.

    Are DeFi Tokens Overvalued at the Moment?

    As many DeFi-based tokens have continued to increase in value over the past several weeks and months, it has been argued that some of these tokens, including BAND, are somewhat overvalued.

    Band of Brother or Protocol ?

    Band Protocol Adopts a Token Understanding to Every Community.

    Did you know?

    Band Protocol’s co-founders were first introduced to crypto in 2014 when MIT offered a $100 Bitcoin airdrop to students who completed a survey.

    How do I buy Band Protocol?

    It is not possible to buy all cryptocurrencies with U.S.dollars.Bitcoin, Bitcoin Cash, Ethereum, Litecoin and other popular cryptocurrencies can be purchased with U.S.dollars using Coinbase or BlockFi.Once you have purchased Bitcoin using Coinbase, you can then transfer your Bitcoin to an exchange such as Binance to purchase other cryptocurrencies, including Band Protocol.

    How does Band Protocol work?

    Luckily for you (and for us), how Band Protocol works now is much easier to understand compared to how it worked before.The Ethereum version of Band Protocol involved multiple data-based communities, each with their own unique tokens which were backed by the BAND token and fluctuated in value based on demand for the data within that community.

    How does Band Protocol work?

    Like other oracles, Band Protocol is essentially the connective tissue between a dapp’s smart contract based on a blockchain, and a real-world data source located outside of the blockchain.Many dapps rely on such information to function and serve users, and must have the latest, most accurate data to work as intended.

    How does BAND work?

    As described above, the BAND connects on-chain with off-chain.More specifically, Band Protocol provides a decentralized data oracle by making data available for a blockchain query.It uses delegated proof of interest to ensure data integrity.It aims to be the data infrastructure layer for Web 3.0 applications by providing decentralized off-chain data to the various smart contracts via oracles managed by its dPoS consensus mechanism.

    How does the BandChain Work?

    Validators on the BandChain are tasked with generating new blocks and processing transactions (providing data).Validators are rewarded in BAND tokens for generating new blocks and providing reliable data.Validators are able to set their own fees for the data they are providing.

    How does the data reliability process work?

    “Token Curate Data Sources” (TCD) is a community method to control and manage data collectively.It is suitable for compiling objective information with many data sets, such as asset prices, blockchain transactions, and real-world events.

    How Is the Band Protocol Network Secured?

    Though BAND tokens were previously based on the ERC-20 standard, they were recently relaunched as native BAND tokens on the Band Protocol mainnet (known as BandChain).

    How Many Band Protocol (BAND) Coins Are There in Circulation?

    Band Protocol originally released the BAND token following an initial exchange offering (IEO) on the Binance Launchpad in September 2019.A total of 27.37% of the total supply was sold across three token sale rounds (seed, private, and public sale).

    So, What Are Oracles Exactly?

    In essence, oracles are a new type of technology that can take information from a data source and securely send it to one or more smart contracts—a fancy term that describes digital contracts that can automatically carry out the terms of agreement written down in code.

    What Are Blockchain Oracles and Why Do They Matter?

    Oracles are an emerging technology that plays an increasingly essential role in today’s blockchain landscape.Part of what makes blockchains and smart contracts so secure is the fact that they are closed systems.Each blockchain protocol is essentially its own data silo.While this design is incredibly secure and efficient, it presents some challenges as well.Two of the primary challenges are how to enable cross-chain communication between siloed blockchains, and how to feed external data into the closed systems.

    What can you do with Band Protocol?

    Band Protocol is used by dapps to access real-world data from outside the blockchain.For the average user, however, there may be an incentive to owning and using the BAND token.BAND is used to pay for transactions on the blockchain, for governance, and also to reward validators for generating new blocks.Anyone can stake BAND and delegate it to a validator to earn rewards.

    What coins are similar to Band Protocol?

    The following coins use Band Protocol’s ETH Token algorithm and proof-type: Chainlink, THETA, Binance USD, DREP, DREP [old], PancakeSwap, Aave, FTX Token, Maker, Crypto.com Coin, Dai, Huobi Token, Polygon, Chiliz and Holo.

    What hashing algorithm does Band Protocol use?

    Band Protocol is a coin that uses the ETH Token algorithm.

    What Is Band Protocol (BAND)?

    Band Protocol is a cross-chain data oracle platform that is able to take real-world data and supply it to on-chain applications, while also connecting APIs to smart-contracts to facilitate the exchange of information between on-chain and off-chain data sources.

    What is Band Protocol (BAND)?

    As the name Decentralized Finance (DeFi) suggests, it is purely decentralized applications (dApps).However, this directly creates probably one of the biggest problems — how do you connect the real world to the decentralized one? For many decentralized applications, external data such as stock and precious metal prices must flow into the application.To avoid having to rely on centralized providers at this point, one uses decentralized oracles.This is exactly what Band Protocol does.

    What is Band Protocol?

    Band Protocol began as an ERC-20 token launched in September of 2019.An ERC-20 token is a cryptocurrency project built on the basic technology that governs Ethereum.In 2020, Band Protocol launched Band Protocol 2.0, a major update that shifted the technology to BandChain using the Cosmos SDK.

    What is Band Protocol?

    Band Protocol describes itself as a “cross-chain data oracle”.This might not tell you much if you are unfamiliar with the terminology.In cryptocurrency, a data oracle is a program which can aggregate and connect APIs and real-world data to decentralized applications and smart contracts on cryptocurrency blockchains.

    What is Band Protocol?

    Band Protocol is a cross-chain decentralized oracle that allows smart contracts to connect and aggregate any external data source or API in a trust-less and scalable manner.

    What is Band Protocol?

    Band Protocol offers a decentralized data oracle by making data readily available to be queried on-chain, using delegated proof of stake (“dPoS”) to ensure data integrity.It aims to be the go-to data infrastructure layer for Web 3.0 applications by providing decentralized, curated off-chain data to smart contracts through oracles managed by its dPoS consensus mechanism.

    What is Band Protocol?

    Band Protocol is a cross-chain oracle used by decentralized apps to pull in data from web-based APIs (application programming interfaces).It works with various blockchains including Ethereum and Cosmos—something that's becoming increasingly important as dapps look beyond Ethereum for less-congested blockchains to call home.

    What is Band Protocol?

    Band Protocol connects smart contracts with trusted off-chain information, provided through community-curated data providers.Band Protocol provides community-curated on-chain data feeds, backed by strong economic incentives which ensure the data stays accurate.

    What is the Reddit page for Band Protocol?

    The official Reddit community (subreddit) for Band Protocol is r/bandprotocol.

    What is the value of Band Protocol?

    One Band Protocol (BAND) is currently worth $18.41 on major cryptocurrency exchanges.You can also exchange one Band Protocol for 0.00032458 bitcoin(s) on major exchanges.The value (or market capitalization) of all available Band Protocol in U.S.dollars is $377.33 million.

    What is Band Protocol?

    The BAND Protocol was developed to improve smart contract access data outside of a specific blockchain, and their cross-chain data oracles are able to collect off-chain data and aggregate it, then provide it to any number of decentralized apps and smart contracts in a blockchain agnostic way.The aggregated data can be relatively schema-free, which is part of the power of BAND protocol; in addition to DeFi and gaming applications, information can include personal healthcare data, real estate documentation, and even travel logs.By connecting smart contracts to external data sources, the oracles improve cost and response time, allowing for more transactions to occur in real-time.The Band protocol was built on the Cosmos SKD and is available for developers to create their own oracles easily in a modular and interoperable way, based on delegated proof of stake validators who use the Band token to contribute to the reliability of the network.The native BAND token is used to access the blockchain within the BAND Protocol, and it is best used to aggregate real-time data.The Band blockchain or BandChain is a sprawling network of validators and delegators that update information based on data.Validators must stake Band tokens in order to provide validation.When users interface with Band Protocol, they submit a job to the BandChain, at which point the validators select data specified by your smart contract.That data is aggregated and then made available for other requests to reference in the future.

    What Makes Band Protocol Unique?

    Band Protocol is designed to be faster and more efficient than competing oracle solutions and is also compatible with most blockchain and smart contract development frameworks — ensuring reliable data can be fed to and from multiple different blockchains.

    What’s next?

    In this walkthrough, we’ve covered just enough features to demonstrate the power of IBC.

    What’s so special about Band Protocol?

    Some oracles are tied to Ethereum alone, which makes sense as it is the driving force behind the majority of dapps.However, Band Protocol also works with other blockchains, providing a key piece of infrastructure for dapps developed elsewhere.

    Where can I get Band Protocol wallet?

    Band Protocol produces its own wallet software that is available for download on its website, which allows you to store Band Protocol on your computer.For maximum security, you can store your cryptocurrencies on a dedicated hardware wallet such as a TREZOR wallet or a Ledger Nano X.If you do not wish to buy a hardware wallet, you may consider using a mobile wallet such as Atomic Wallet, Jaxx, or Coinomi to store multiple cryptocurrencies with some added security benefits.

    Where Can You Buy Band Protocol (BAND)?

    BAND was first tracked on public exchanges by CoinMarketCap in September 2019.Since then, it has been listed on a wide range of platforms, including several tier 1 exchanges — like Binance, Coinbase Pro and OKEx.

    Who Are the Founders of Band Protocol?

    Band Protocol was founded in 2017 by Soravis Srinawakoon, Paul Chonpimai and Sorawit Suriyakarn.

    With 8 million Americans out of work, why are more companies not filling jobs?

    SAN FRANCISCO/WASHINGTON (Reuters) -As the economy revs up to meet the rapacious demand of tens of millions of newly vaccinated Americans, employers say they cannot fill their yawning need for labor.Take Alex Washut.In January he mapped out hiring plans for his two breakfast and lunch eateries in western Massachusetts and figured he'd need to hire 20 new cooks, servers, dishwashers and other staff by May.He has doubled wages in some cases but has managed to hire only five; most of the time, he said, job candidates never even show for their interviews.

    History of Band Protocol

  • In 2020, Band Protocol launched Band Protocol 2.0, a major update that shifted the technology to BandChain using the Cosmos SDK.