Review on Band Protocol by Yenkelys Barcenas
Band Protocol BAND. A Smart Project.
It is an open source blochain protocol that allows developers to build their applications on a chain without depending on the single point of failure of a centralized oracle. Its creators claim that it is designed to decentralize data: it adds and connects data and APIs from the real world to smart contracts thanks to its "Oracle".
Oracle scripts represent a competitive strategy, including solution in data sourcing and aggregation that is secured by a delegated proof of stake. This protocol allows decentralized finance and other applications of this type to operate in the most reliable way possible since the oracle scripts do not have permission, and this makes the iterations fast and with a wide support for any type of data, giving guarantee of the handling and administration of data in the management of smart contracts in its functionality and other applications
Its token is an ERC-20 type digital asset that has a high-yield projection, its market value is quite high, it has remained in the last month above $ 5, a very good market capitalization and is It is in the 76 range in the global cryptocurrency rating with an average daily trading volume of $ 45.2M. It is considered one of the most resistant cryptocurrencies on the market, compared to Link and Vet, some users assure that one is better than the other but all agree that BAND, as a project, has good technology and solid foundations and it is expected that its Market value continues to grow, considering that BAND is the main token of the DeFi project, an oracle of performance. Band's blockchain, BandChain, is capable of processing thousands of transactions per second and is capable of sending Oracle data through multiple blockchains and this is undoubtedly one of its great attractions.
Pros
- It is an ERC-20 token and any compatible wallet can be used.
- It occupies a good place in the global rating of cryptocurrencies and they keep growing.
- Is a project that implements the Tendermint consensus algorithm which is Byzantine fault tolerant.
- Supports most blockchain and smart contract development frameworks.
Cons
- The anonymity of its creators.
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Comments (1)
October 19, 2020
BAND Protocol is a decentralized project with an open blockchain protocol launched to create token-focused communities. BAND Protocol Coin is the crypto currency of this cross-network data platform that connects decentralized applications. The main goal of BAND Protocol developers is to connect and match different communities through reliable data sources and decentralized protocols.
