What is Band Protocol (BAND) Coin
Band Protocol is a cross-chain data oracle platform that is able to take real-world data and supply it to on-chain applications, while also connecting APIs to smart-contracts to facilitate the exchange of information between on-chain and off-chain data sources.
By supplying reputable, verifiable real-world data to blockchains, Band Protocol unlocks a range of new use cases for developers to explore — since they can now use any type of real-world data as part of their decentralized application (DApp) logic, including sports, weather, random numbers, price feed data and more.
Band Protocol initially launched as an ERC-20 project on the Ethereum blockchain in September 2019, but transitioned to the Cosmos network in June 2020 with the release of Band Protocol 2.0. The new protocol is built on BandChain using the Cosmos SDK. Oracle nodes on BandChain not only relay data but are also involved in block production/validation, giving them a dual role.
BAND is the native token of the Band Protocol ecosystem and is used as collateral by validators involved in fulfilling data requests, as well as the main medium of exchange on BandChain — being used to paying for private data.
- Band Protocol offers a decentralized data oracle that connects smart contracts such as Defi to external data and APIs. The project has raised ~$10.5 MM via private token sales and the Binance Launchpad Sale.
- The project uses Delegated Proof-of-Stake (DPoS) on its Cosmos-based blockchain. BandChain provides a decentralized, scalable, and cross-chain oracle solution for any decentralized finance application or smart contract developer.
- BandChain allows developers to customize and create a ‘data oracle script’ that allows smart contracts to connect to external data sources and APIs, and specify aggregation methods and security parameters.
- BAND is the native token of BandChain and is used as a medium of exchange for transfer/data request fees as well as staking to ensure accountability and secure data curation from a trusted global pool of validators.
How To Buy Band Protocol (BAND) Coin
1.Step: Everyone who is planning to invest in or benefit from the advantages of cryptocurrencies wonders the answer to Where to buy Band coin question. First, you need an online wallet to buy cryptocurrencies. You need to sign up to Binance exchange from here, which is preferred globally to buy coins and you can buy coins with fiat currencies. You can quickly access many assets and trade types such as altcoins, future markets, and margin by creating a Binance account.
2.Step: Complete your registration by typing an email to the email section or typing your phone number on the section available on the mobile tab. Click/tap on the “Buy Crypto with Your Credit Card” option after the registration and verify your identity.
3.Step: Continue the process by typing the amount you would like to invest and your preferred cryptocurrency. Keep in mind that for security reasons, your credit card/debit cardholder information must match with the name available on your account. If you would like to buy cryptocurrencies with a wire transfer, you need to follow the Buy Crypto > Third-Party Payment options to pick your preferred fiat currency to buy cryptocurrencies.
4.Step: If the cryptocurrency you are planning to buy is not available on the list, buy USDT “You can always redeem 1 USDT Coin for US $1.00”. You can buy any coin you want with USDT by following Buy-Sell > Classic steps. We have provided the answer to How to buy Band Protocol coin, now you can view the cryptocurrencies you bought by clicking on the wallet summary available on your Binance account. You can sell your assets when their value increases, or you can withdraw them to your bank account in desired fiat currency.
How Much is a Band Protocol (BAND) Coin
Band Protocol (BAND) coin prices are updated instantly in USD, Euro, Sterling currencies in the following table.
Band Protocol (BAND) Coin Review
You can learn more about Band Protocol (BAND) coin reviews and information on cryptocurrencies by visiting their official page available in the following.
Website https://bandprotocol.com/ Whitepaper https://docs.bandchain.org/whitepaper/ Github https://github.com/bandprotocol Medium https://medium.com/bandprotocol Documentation https://docs.bandchain.org/ Telegram https://t.me/bandprotocol Discord https://discord.com/invite/3t4bsY7