Ціна Band Protocol (BAND)

What is Band Protocol?

Band Protocol serves as a decentralized, cross-chain data oracle platform that aims to connect real-world data and APIs to smart contracts. It acts as the bridge between on-chain and off-chain worlds, enabling decentralized applications (dApps) to access a plethora of real-world data. Its native token, BAND, is integral to the ecosystem, serving multiple functions including collateral for validators and as the medium of data exchange on the BandChain.

Technological Infrastructure

Band Protocol made a significant technological leap when it moved from the Ethereum blockchain to the Cosmos network with the Band Protocol 2.0 release in June 2020. This transition allowed it to utilize the Cosmos SDK and construct its own BandChain. Oracle nodes on BandChain play dual roles— they not only relay data but also participate in block production and validation. This architectural advantage allows Band Protocol to achieve superior speed and efficiency compared to other oracles.

The Market Landscape

Despite stiff competition from well-established players like Chainlink, Band Protocol has carved a niche for itself in the crypto market. It holds a market cap ranking of #135 and has managed to secure significant backing from reputable venture capital firms such as Sequoia Capital, Dunamu & Partners, Spartan Group, and Binance.

Adoption, User Base, and Partnerships

Band Protocol's team has been successful in striking numerous partnerships across industries and blockchain networks. This is largely because of its unique cross-chain capabilities and its user-friendly nature that allows for quick smart contract integration. It has become an increasingly popular choice for developers who need reliable and varied external data feeds for their dApps.

The Team Behind the Vision

Founded in 2017, Band Protocol is steered by Soravis Srinawakoon, Paul Chonpimai, and Sorawit Suriyakarn. Their combined experience across tech companies like Ericsson, Dropbox, TripAdvisor, and consultation firms like Boston Consulting Group, adds significant credence to the project. Besides the founders, Band Protocol's team has about 20 other members, including designers, developers, and engineers, mostly based in Asia.

Tokenomics and Circulation

The total supply of BAND tokens is capped at 100 million, with a circulating supply of approximately 20.49 million as of November 2020. The emission rate is designed in such a way that by 2025, the entire supply is expected to be in circulation. This structured emission schedule and capped supply could play a key role in the token's future valuation.

Security Measures

Initially launched as an ERC-20 token, BAND was subsequently migrated to BandChain, and is now secured by a Byzantine fault Tolerance (BFT) consensus algorithm combined with a delegated proof of stake (dPOS) system. This dual-layer security mechanism not only protects against various types of attacks but also allows for staking rewards.