BAND - BNB SessionCompleted

Information

Band Protocol - Secure and scalable decentralized oracle for Web3.0

Band Protocol is a secure and scalable decentralized oracle serving as a layer-2 protocol on public blockchains. It allows dApps to leverage existing data on the internet without trusted intermediaries bridging the use cases between Web 2.0 and 3.0. Band’s unique multi-token model and staking mechanism ensure that data is free from manipulation. By making data readily available and reusable on-chain Band Protocol offers a cheaper and faster solution compared with alternatives all without compromising security. Developers using Band Protocol will be able to build a wider range of dApps with integration to off-chain financial data reputation scores identity management systems and much more bringing blockchain closer to mass adoption.

• Band Protocol offers a unique approach to decentralized data oracle by making data readily available to be queried on-chain using delegated proof of stake to ensure data integrity. This offers many benefits
• Decentralized economic incentive:data providers have economic and reputation at stake to remain honest actors.
• Cheap:over 50% cheaper than current decentralized alternative with much less gas consumed. Band’s smart contracts are optimized for gas usage and require less than 30000 gas to process a query call.
• Scalable:costs for data providers remain constant regardless of how many dApps are using the data. Once a datapoint is put on-chain multiple smart contracts can consume the data without added cost to data providers.
• Fast instant query:logic can be processed within one transaction requiring 0 blockchain confirmation. Data is readily available on blockchain so consuming data can be done synchronously within the same transaction.
• Easy deployment:dApps can integrate with Band Protocol using a few lines of code with no major modification. Querying data on Band dataset is merely a function call on a predefined interface.
• Working products & traction:strong developer communities with live testnet and many developers have already started the integration on testnet.