Few words about BAND Protocol

Few words about BAND Protocol

By arro | CoinsDaily | 25 Dec 2020


Band Protocol ($BAND) is a cross-chain data oracle platform that aggregates and connects real-world data and APIs to smart contracts to facilitate the exchange of information between on-chain and off-chain data sources.Band Protocol initially launched as an ERC-20 project on the Ethereum blockchain in September 2019.

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Band Protocol on coinmarcetcap.com


 

Blockchains are great at immutable storage and deterministic, verifiable computations. However, they cannot access trusted real-world information available outside their networks. Band Protocol enhances smart contract functionalities by granting them access to reliable data without any central points of failure.

 

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Decentralized Finance applications need price feeds on token swap and loan collateralization process. With Band Protocol’s built-in price oracle, developers can build DeFi with an absolute peace of mind that the price feeds they’re using are robust and tamper-proof.

 

Band Protocol's flexible oracle design allows developers to use any data including real-world events, sports, weather, random numbers and more. Developers can create custom-made oracles using WebAssembly to connect smart contracts with traditional web APIs within minutes.


arro
arro

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