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Band (BAND)
4.17%
$ 0.339841
$ 0.014171
⇣ 0.335045
16 Jan
⇡ 0.355535
What is Band Protocol (BAND)?

BAND Protocol (BAND) is a technology capable of integrating real-world data into blockchain technology. It also serves as a data platform that connects real-world data and APIs to smart contracts, facilitating data input and output between on-chain and off-chain. BAND utilizes real-world data, including sports matches statistics, weather conditions, random numbers, price feeds, and more.
How Did Band Protocol (BAND) Emerge?
BAND emerged as an ERC-20 project on the Ethereum blockchain in September 2019. Later, with the launch of Band Protocol 2.0 in June 2020, BAND transitioned to the Cosmos network. BAND was built on BandChain using the Cosmos SDK.
BandChain is distinguished by its unique Oracle technology.
What is BandChain Oracle Technology?
One of the features that make Band Protocol interesting is the Oracle technology of BandChain on which it is built. BandChain Oracle technology acts as a middleware layer working between various data providers and smart contract platforms or decentralized applications (dApps).
The primary role of BandChain Oracle is to process data requests from dApps. However, the duties of oracles are not limited to this. BandChain oracles also query data from relevant providers and relay the results back to the application, thus playing a role in block production and verification.
Founders of Band Protocol
Band Protocol (BAND) was created and launched in 2017 by Soravis Srinawakoon, Paul Chonpimai, and Sorawit Suriyakarn.
The current CEO of Band Protocol, Soravis Srinawakoon, once worked as a software engineer at Ericsson. Srinawakoon also currently serves as a management consultant at The Boston Consulting Group.
The CPO of Band Protocol is Paul Chonpimai, who previously worked as a web developer at Turfmapp and briefly as an engineer at Tripadvisor.
Lastly, the CTO of Band Protocol is Sorawit Suriyakarn, a gold medalist competitive software programmer who has also worked as a software engineer at Dropbox and Quora.
Features That Distinguish BAND from Other Projects
Band Protocol is designed to be faster and more efficient than competing projects, catering to everyone's data requests. Additionally, BAND offers extremely simple smart contract integration and is compatible with most blockchain networks and smart contract development frameworks. BAND also has top-level security protocols.
For inter-chain data transmission in the blockchain ecosystem, Band Protocol considers leveraging Cosmos' still-under-development Inter Blockchain Communication (IBC) protocol. The timeline for IBC to become operational and available for use remains uncertain.
About Network Security
Although BAND was previously on the ERC-20 network, it was recently rebooted on its own network, meaning BAND now resides on the BandChain network.
BAND holders can complete a 1:1 swap by depositing their old tokens connected to the ERC-20 network to Binance and then withdrawing them as native tokens. This swap is necessary for BAND Staking.
Operating based on Cosmos' software development kit (SDK), BandChain is secured with the Byzantine Fault Tolerance (BFT) consensus algorithm, which protects against attacks. This algorithm works in conjunction with a delegated proof of stake (dPOS) setup, allowing BAND holders to earn stake rewards by delegating the task of ensuring network security to third parties.
How to Buy BAND?
Buying BAND with Turkish Lira is a very easy and quick process.
Band (BAND)
4.17%
$ 0.339841
$ 0.014171
⇣ 0.335045
16 Jan
⇡ 0.355535
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