Band Protocol, launched in 2017, is a decentralized oracle linking real-world data to blockchain applications. More
| Fully Diluted Valuation | $132.55M |
|---|---|
| 24H Trading Volume | $10.39M |
| 24H Low / High | $0.80 / $ 0.83 |
| Circulating Supply | 164.03 M |
| Total Supply | 165.19 M |
| Max Supply | ∞ |
| Categories | Business Services 9 more |
|---|---|
| Founder | Soravis Srinawakoon 2 more |
| Website | bandprotocol.com |
| Socials | 8 more |
| Chains | Ethereum Ecosystem 3 more |
| Explorer | Atomscan 9 more |
| Contracts |
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3 more
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| Name | Pair | OG Score |
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Band Protocol, founded in 2017, emerges as a revolutionary player in the blockchain space. Launched initially as an ERC-20 project on the Ethereum blockchain in September 2019, Band Protocol soon transitioned to the Cosmos network in June 2020 with the release of Band Protocol 2.0. This decentralized cross-chain data oracle platform has a unique purpose: to aggregate and connect real-world data and APIs to smart contracts, thereby enhancing the practicality and efficiency of blockchain technologies.
At the heart of Band Protocol is BandChain, an independent Delegated Proof-of-Stake (DPoS) blockchain built using the Cosmos SDK, tailored for oracle computations including data sourcing, settlement, and aggregation. Validators on this blockchain stake BAND, the network's native token, to secure the network and earn a portion of the protocol’s fees. The introduction of BandChain marked a significant milestone, enabling decentralized oracles for blockchain applications.
What sets Band Protocol apart is its intuitive request interface for decentralized applications (DApps), facilitating the seamless acquisition of real-world data through a static smart contract function. This process does not incur substantial gas costs, making it economically viable. The integrity and reliability of data are upheld through a token holder incentive system, where the value of BAND is directly related to the data sets managed. This structure ensures a higher degree of data accuracy and trustworthiness, essential for applications relying on external data like price feeds for decentralized exchanges or weather data for insurance contracts.
Band Protocol is not just an oracle service; it's a bridge connecting the blockchain world (Web 3.0) with traditional web services (Web 2.0), fostering secure interoperability and data integrity. Its versatility, cross-chain compatibility, and secure, reliable data handling make it an indispensable tool in the DeFi sector and beyond. The journey of Band Protocol, from its conception to its status, underscores its commitment to bringing trusted, decentralized data solutions to the forefront of blockchain technology.
Band Protocol stands out for its ability to connect real-world data and APIs to smart contracts, offering an intuitive interface for DApps and efficient data acquisition, all on its independent blockchain, BandChain.
Band Protocol was founded by Soravis Srinawakoon (CEO), Sorawit Suriyakarn (CTO), and Paul Nattapatsiri (CPO).
Band Protocol has many investors and backers such as Binance Labs, The Spartan Group, Sequoia Capital, ZBS CAPITAL, Woodstock Fund, Arche Fund, Evernew Capital, Dunamu & Partners, ICONIUM and SeaX Ventures.
Band Protocol utilizes a Delegated Proof-of-Stake (DPoS) consensus mechanism on its BandChain blockchain.
You can buy Band (BAND) on Binance, Gate.io, Bitget, OKXCoinbase cryptocurrency exchanges.
