Clear Explaination Of Band Protocol
STARGATE The New Era For CØsmos!!
Short introduction of Band Protocol
Band Protocol is a cross-chain data oracle platform which solves the limitation for the majority of
the existing smart contract platforms,
namely their non existing connection with the real world.
By connecting these off-chain data with the public blockchain they can reveal the
true potential of these contracts and their limitless possibilities!!
Market Cap : $177.280.083 USD
Volume (24h) : $95.940.959 USD
Circulating Supply : 20.494.033 BAND
Total Supply : 100.000.000 BAND
The vision of Band protocol and how it's achieved
Band Protocol has three major pillars
- Speed and scalability
- Cross-chain compatibility
- data flexibility
The reason how Band Protocol can accomplish their vision is because of the platform/network it's build on.
Namely the Cosmos Network, unlike Chain Link which is build on the Etherium platform.
Here lies a big diference between both oracles due to the fact that the Cosmos Network uses the Tendermint core consensus as their engine which is incredibly fast and cheaper!!!
This simply makes Band Protocol the fastest horse in the race which allows it to quickly send information and data without having to deal with enourmus gas fees!!!!!!!
An other advantage by beeing build on the Cosmos Network is the networks build in Inter-blockchain Communication protocol or I.B.C. which accomplishes the cross-chain comunicatons.
Hereby is Band Protocol able to serve data to most of the available blockchains even including Ethereum based projects and dApps!!
In my opinion Band Protocol could easely be the solution where many project have been looking for, especially for the projects who rely on 'on time data' but have been tackeling with enormous gas fees to achieve this.
Band Protocol's Partnerships and Investors
Because of what Band Protocol can offer being based on cosmos Network and simply being the
fastest horse in the race, it has gained the abbility to atract some milestones of the industry!
Due to it's advantages it's not unlogic it has made many partnerships and
got supported by some big players in the industry !!
some great examples of these partnerships:
- and many others!!!
some great examples of who supports the Band Protocol:
- Spartan Group
The effort and development of the all tech team also didn't stayed unnoticed by the community in general.
Yes idd even the head of the Band Protocol's team has a tech background!!!
They even received the position as coin of the week by dutchcryptotalk.com
as a reward for their vision and constant progress.
Staking Band Protocol
The Band Protocol works with a delegated Proof Of Stake (dPOS) which means one can stake on 2 main ways: as a validator or delegated to a validator for a small fee.
When one is a Validator you write your own node to support and secure the network, as it needs some skill and knowdledge of programming this is more for the advanced technics among us.
Although true being delegated to a validator there is the possibility for everyone to be able to stake their Band tokens!!
Even when you have absolutely no knowledge of programming what so ever.
To being able to become delegated to a validator one can achieve this with a Ledger hardware wallet
using cosmoscan.io or true a third party wallets like Atomic Wallet, IBC wallet,...
For example when one wants to use the ledger wallet to stake basically the "staker" has to make a
connection between his ledger and Bands mainnet wenchang.
This is established true cosmoscan.io .
The amount of interest given is variable and based of the total amount of Tokens staked.
Band Protocol will give interest rates from 7% up to 20%!!!
It's because of this generosity and user friendly interferace that the current amount of staked token is 79% and it's yield lies at 15.4%
Another great tool that comes along with staking Band Tokens is the fact that validators can vote for future development of the protocol!!
Due notice one is not obliged to do so!
If you don't vote you will take automatily the vote of the validator your delegated to.
Some great examples of validator's where one can delegate to:
- and many more
Development of Cosmos: (STARGATE)
Due notice the launch of STARGATE which is schedueld for the
4th quarter of this year, according to the platform,
their biggest upgrade sinds the cosmos Hub!!!
With Stargate they will accomplish there goal and complete the original cosmos whitepaper !!!
- higher transaction throughput
- cross-chain transactions
- accelerate UI development
- and much more!!!
As icing on the cake they just updated a few days ago that
they're almost ready for their gamechanging launch!!
- Cosmos SDK 0.40 = 90% complete
- Tendermint Core 0.34 = 92% complete
-IBC 1.0 = 93% complete
Curious about band protocol
Want to know more on the upgrade STARGATE of cosmos
If you're convinced and want to buy or trade Band Protocol
If you want to easily stake Band Protocol and become delegated to a validator