Should You Invest In Band Protocol?

Band Protocol is a cross-chain data oracle platform that connects real-world data and application programming interfaces (APIs) to smart contracts. Oracles act as a middleware solution between a blockchain and the real-world, and Band Protocol enhances smart contracts by granting them access to reliable data without the need for third-party intermediaries. Band Protocol allows developers to use any data – including real-world events, weather, and random numbers – and create custom-made oracles to easily connect smart contracts with APIs. BandChain is a high-performance blockchain that utilises Cosmos’ software development kits (SDKs) to allow for efficient and scalable data query. BandChain can connect to smart contracts, run and program dozens of oracle scripts, and has cross-chain compatibility, enabling greater interoperability. Due to the Tendermint BFT consensus algorithm, BandChain is fully decentralised and tamper-proof. BAND is Band Protocol’s native ERC-20 token. Data requests to BandChain require transaction fees in the form of BAND tokens, and validators and delegators earn BAND for fulfilling oracle requests and producing blocks. The greater the usage on BandChain, the more protocol fees (BAND tokens) are accrued, enhancing security and demand for BAND. Follow the BAND price and stay up to date on its price changes on eToro.