It’s important to learn as much as you can about Band Protocol (BAND) and its current price. Continue reading to find out!
Protocol Band Market Information
The live price of Band Protocol is $17.46, making it down 1.06 percent. Right now, it has a live market cap of roughly $357,841,627 and a circulating supply of about 20,494,033 coins, with the max supply unknown.
What Is Real-World Data (RWD)for Band Protocol?
Band Protocol is a cross-chain platform with a data oracle that can take real-world information and supply it to different on-chain applications. Plus, it can connect APIs to smart contracts, facilitating an exchange of information between off- and on-chain data sources.
By supplying real-world information to various blockchains, Band Protocol can unlock new use cases for developers because they can now use any data with the decentralized oracle (DAPPS logic).
Initially launched in September 2019 as an ERC-20 project for the Ethereum blockchain, Band then transitioned to the Cosmos network and released Band Protocol 2.0 in June 2020. This new protocol is built with the BandChain on the Cosmos SDK. Oracle nodes within BandChain relay data and are involved in the validation and production of blocks.
Within the Band Protocol ecosystem, BAND is the native token and is used by validators as collateral to fulfill data requests with the DeFi system.
Cross-chain Data Oracle and Other Unique Features
Ultimately, Band Protocol is more efficient and faster than competing oracle options and is compatible with many smart contract and blockchain frameworks on the decentralized finance front. That way, information can be fed to/from various blockchains.
With BAND, users get permission-less creation of oracles, so anyone can start such requests. Plus, it offers smart integrations so developers can get going with a few code lines.
Founders
Sorawit Suriyakarn, Paul, Chonpimai, and Soravis Srinawakoon founded Band Protocol in 2017.
Srinawakoon is the current CEO and a former software engineer. Chonpimai is Band Protocol’s CPO and former web developer from Turfmapp. Suriyakam is the CTO and a competitive programmer.
This team also has 20 employees to help with its decentralized blockchain. Many of them are in Asia, and the team includes engineers, developers, and designers. It also has various investors, such as Binance, Sequoia Capital, and Spartan Group.
Security
While BAND tokens were previously based on an ERC-20 standard, they have been relaunched as the native BAND tokens for the BandChain (Band Protocol main-net).
Holders of older tokens can complete a one-to-one swap by depositing ERC-20 tokens to Binance and withdrawing them as native.
Based on the Cosmos SDK, BAND token options are secured with BFT (Byzantine fault tolerance) algorithms, protecting it from attacks. Ultimately, it secures the oracles on the network so that holders can earn staking rewards.
Where to Buy Band?
Users may find that BAND was initially tracked on public exchanges. From there, it’s now listed on many platforms, like Binance and Coinbase Pro. If you want to use Band, it’s best to go there. It’s ideal for validators and others.
Crypto exchanges should have the current price in USD for your convenience.