Hello to my friends who love life and keep smiling despite all negativity. In this article, I will talk about "BAND PROTOCOL", which provides oracle solutions in cryptocurrency markets. Let's learn together…
What is Band Protocol, is a project created on the Ethereum blockchain in September 2019. However, Band moved to BandChain with Protocol 2.0 in June 2020. Oracle nodes on BandChain transmit data and perform block generation and verification.
It is an oracle platform that can take real-world data and supply it to applications on the blockchain, as well as connect APIs to smart contracts to facilitate the exchange of information between the inside and outside of the blockchain.
The platform is also supported by Sequoia Capital, Dunamu & Partners, Spartan Group and Binance.
What distinguishes Band Protocol from other oracle solutions (Chainlink,…)?
It is faster and more efficient than its competitors. It is also reliable and compatible with smart contracts of Ethereum, Polkadot, Atom (Cosmos) blockchains.
It offers extremely simple smart contract integration, allowing it to start using data from Band Protocol oracles with just a few lines of code by calling a predefined interface.
Bring more use-cases to blockchains beyond DeFi
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.
Band Protocol and ChainLink comparison (Click for the original version of the comparison ...)
My friends, I have an investment in Chainlink. But after reviewing its rival Band Protocol, I decided to invest. There are strong companies that support it. I bought at $ 13.6.
This is not investment advice. I share my experiences with you.
As I always said, listen to everyone, decide for yourself ...
I'm looking forward to your comments. Thanks to your comments, we can shape my next articles together. Let's stay in touch… Take care of yourself so that you and the people around you are happy…