Band Protocol

• Band Protocol was the first blockchain firm to join OpenAPI.
• The system switched to Cosmos from Ethereum in mid-2020, which is a more polished format.
• Fewer BAND tokens would be available as it aims to have 66% of all tokens staked at any given moment.
• The Band protocol and its BAND token aim to overcome the challenge of connecting decentralised finance with the centralised worlds.
• It compensates BAND holders for their contributions to system upkeep and correct external data delivery to users.

Band Protocol is a blockchain-based programme that rewards users for providing real-world data to decentralised applications (dapps). Band Protocol offers this function using software that rewards a specific class of users called validators for providing and verifying external data.

A Thai startup created band Protocol. Soravis Srinawakoon, the CEO founded the Band Protocol.

Band Protocol (BAND) token is the native currency of this program.

• Band Protocol will allow on-chain DApps to safely communicate external data like real-world events, sports scores, election polls, weather predictions, random pricing, and more.
• It will help prediction markets to leverage blockchain technology, ushering in a new financial era.
• The Band Protocol will also assist the DeFi industry by securing external data sources.

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