Band Protocol - Cross-Chain Oracle solution & Chainlink Competition - Next 100X?

[mcxcmiv]

We've all seen how well Chainlink has done recently, Oracles are going to be important in the not to distant future and Band is no different.
In fact, Band has many advantages over Chainlink, looking at the chart and recent partnerships it's clear, Band is growing rapidly yet still a tiny marketcap of 10m.
You've still got time to board the train, just.

Band are a data governance framework for Web3.0 applications. It operates as an open-source standard and framework for the decentralized management of data, designed to allow users to build and manage off-chain oracles, reputation scores, identity management systems, token issuances and token curated registries.


Both BAND and Chainlink work on the decentralized oracle. Here is the difference on how Band is different from Chainlink:

1) Band focus a lot security through economic (we have staking mechanism from day 1)Usage simplicity (getting data from band is just 1 function call, while on ChainLink you need to use asynchronous + callback function)

 2) speed (data is readily available  query for Band and can be processed within same transaction, not for ChainLink which requires at least 3 block confirmations).

3) Cost (if you query from 7 data providers in Chainlink, it will cost you over $7 whereas for Band right now the fee is $2 and we require much less gas to process.

4) scalability: because Band data is pushed on chain, the cost is fixed regardless of how many dApps use us whereas for Chainlink, it's on demand so if there are more dApps requiring same data, ChainLink has to perform that query again and again adding to the cost.

In addition, I believe this data layer space is huge and multiple protocols with different trade-offs can co-exist. The space is quite complementary actually, as dApps will likely request data from multiple oracles to make sure they do not rely on just one source of truth (hence single point of failure)



Take a look at the Chart for band, It looks very similar to when ChainLink was about to explode, I see no reason why Band is not about to do the same.
Band release new partnerships every day and here is just a few:

- Cosmos
- Kardiachain (Band will provide the data in Viatnamese Dong and crypto pricefeeds in Mobile Payments infrastructure for over 60 million customers
- Top South Korea based Validator we staking partners with Band Protocol

I could go on, over 14 partners.
One of the assets on Coinbase Custody to
https://custody.coinbase.com/assets



AND one last major thing.. let's not forget they are the oracle provider for Binance - https://www.binance.com/en/blog/406006839228116992/Powering-DeFi-and-Crosschain-Interoperable-Decentralized-Applications-with-Binance-API-using-Band-Protocol

And what's coming.. Binance Chain.




Band protocol seriously has potential for a 100x and it is still under the radar!

[mcxcmiv]

Feel free to ask me any questions on there Telegram
t.me/bandprotocol

[leyton11]

so I found the answer to the continuous BAND pump when the market was full of blood. It's really surprising to know that BAND is the oracle provider for Binance. I believe in the future both BNB and BAND will be one of the strongest growth alts. Technically speaking, it is actually a bit better than Link but the problem is that it does not have a large community like Link. That is why it has not been pumped as strongly as Link. I also hope that BAND is getting more and more attractive by what they have contributed to the crypto market and soon X100 during the bull run.

[WalkerIVIV]

Too much oracle project this day. Chainlink, aeternity, and there were so many orcale project these days and what makes you feel if crosschain project has a very huge potential to growth? It sounds like you are over optimistic dude. I have seen some platforms that focused to create cross chain ecosystem already failed to achieve their target. Let say ark is one of them.

The partner of band called cosmos has already faced a very difficult time with its token price.

[McFunk]

BAND is also partnered with Kava, Fantom, Wanchain and Tomochain to bring them oracle data.
BAND is using the Tendermint protocol which allows 1,000 tps, so BAND will have large capacity for providing oracles.
Partnered with 15+ validators including Cosmostation, Chorus One, Stake.fish, Figment Networks, StakeWithUs, Infstones, Forbole and WeStaking.

[alexius89-2]

Too much oracle project this day. Chainlink, aeternity, and there were so many orcale project these days and what makes you feel if crosschain project has a very huge potential to growth? It sounds like you are over optimistic dude. I have seen some platforms that focused to create cross chain ecosystem already failed to achieve their target. Let say ark is one of them.

The partner of band called cosmos has already faced a very difficult time with its token price.

You may check the initial price of the atom token and the current price, issues? DyoR

Anyway, by fact, Band Protocol is so much undervalued compared to LINK so the upside potential, roi-wise is a no brainer.
I strongly believe that Band will do very well in the upcoming months, especially after their mainnet launch on cosmos with 15 industry-leading Staking providers.

Chainlink is bloody overvalued, for anyone not believing here, just check this: https://www.reddit.com/r/CryptoCurrency/comments/g2cswj/chainlink_is_the_most_overvalued_cryptocurrency/

[McFunk]

Too much oracle project this day. Chainlink, aeternity, and there were so many orcale project these days and what makes you feel if crosschain project has a very huge potential to growth? It sounds like you are over optimistic dude. I have seen some platforms that focused to create cross chain ecosystem already failed to achieve their target. Let say ark is one of them.

The partner of band called cosmos has already faced a very difficult time with its token price.

On the contrary, the cryptospace is greatly underserved by oracles currently. LINK, BAND, Tellor and maybe one or two others are the only projects focused on the oracle use case. Smart contracts are a key use case of crypto, and there are many smart contract platforms, but they are of little use without oracles providing the link to the 'real' world outside their blockchains. The oracle space has enormous room to grow.

[mcxcmiv]

Band protocol has already risen by nearly 10 cents since posting this.. and these rises have been consistent for the past month.


Band is just getting started..  still cheap as!

[mcxcmiv]

Too much oracle project this day. Chainlink, aeternity, and there were so many orcale project these days and what makes you feel if crosschain project has a very huge potential to growth? It sounds like you are over optimistic dude. I have seen some platforms that focused to create cross chain ecosystem already failed to achieve their target. Let say ark is one of them.

The partner of band called cosmos has already faced a very difficult time with its token price.

What your saying is the reasons why this has so much potential. Oracles are so important within Blockchain technology.
And Band Protocol only has a small market cap compared to the others and with Bands tech extremely well put together.
This will only rise.
As we have seen the past few months.

[dargoth]

I did some reaserch about BAND yesterday, and I'm in now, a few bucks in plus. Thx guys. By the way, nice buywall on binance.

[mcxcmiv]

I did some reaserch about BAND yesterday, and I'm in now, a few bucks in plus. Thx guys. By the way, nice buywall on binance.

Almost doubled your money already!
Theres room for more than just Chainlink in the Oracle space.


BAND is following.. quickly.

[alexius89-2]

We've all seen how well Chainlink has done recently, Oracles are going to be important in the not to distant future and Band is no different.
In fact, Band has many advantages over Chainlink, looking at the chart and recent partnerships it's clear, Band is growing rapidly yet still a tiny marketcap of 10m.
You've still got time to board the train, just.

Band are a data governance framework for Web3.0 applications. It operates as an open-source standard and framework for the decentralized management of data, designed to allow users to build and manage off-chain oracles, reputation scores, identity management systems, token issuances and token curated registries.


Both BAND and Chainlink work on the decentralized oracle. Here is the difference on how Band is different from Chainlink:

1) Band focus a lot security through economic (we have staking mechanism from day 1)Usage simplicity (getting data from band is just 1 function call, while on ChainLink you need to use asynchronous + callback function)

 2) speed (data is readily available  query for Band and can be processed within same transaction, not for ChainLink which requires at least 3 block confirmations).

3) Cost (if you query from 7 data providers in Chainlink, it will cost you over $7 whereas for Band right now the fee is $2 and we require much less gas to process.

4) scalability: because Band data is pushed on chain, the cost is fixed regardless of how many dApps use us whereas for Chainlink, it's on demand so if there are more dApps requiring same data, ChainLink has to perform that query again and again adding to the cost.

In addition, I believe this data layer space is huge and multiple protocols with different trade-offs can co-exist. The space is quite complementary actually, as dApps will likely request data from multiple oracles to make sure they do not rely on just one source of truth (hence single point of failure)



Take a look at the Chart for band, It looks very similar to when ChainLink was about to explode, I see no reason why Band is not about to do the same.
Band release new partnerships every day and here is just a few:

- Cosmos
- Kardiachain (Band will provide the data in Viatnamese Dong and crypto pricefeeds in Mobile Payments infrastructure for over 60 million customers
- Top South Korea based Validator we staking partners with Band Protocol

I could go on, over 14 partners.
One of the assets on Coinbase Custody to
https://custody.coinbase.com/assets



AND one last major thing.. let's not forget they are the oracle provider for Binance - https://www.binance.com/en/blog/406006839228116992/Powering-DeFi-and-Crosschain-Interoperable-Decentralized-Applications-with-Binance-API-using-Band-Protocol

And what's coming.. Binance Chain.




Band protocol seriously has potential for a 100x and it is still under the radar!

The OP here has nailed it! Did you anyone else jumped on?:-)

[mcxcmiv]

Nearly 4x Since Posting.  The path to 100x is still ongoing. Hope you guys took notice when I posted.

[alexius89-2]

This thread was opened on the 24th of April. BAND is moving, but you still have time to jump on!


New Released website: https://bandprotocol.com/

Mainnet Announcement today: https://medium.com/bandprotocol/countdown-to-bandchain-wenchang-mainnet-launch-74e9bebe578a

[gartmah]

Woodstock Investment Fund partners with BandChain as a platform for testing in Oracle's decentralized network https://medium.com/bandprotocol/top-blockchain-investment-fund-woodstock-operates-validator-node-on-bandchain-45187b81d3e1

[Krabby]

The band really has a great team and cutting edge technology idea. This is one of the interesting issues in this economic downturn. ChainLink also has quite similar technology to Band but even they are missing some points and the value of Link is now more than $ 1 billion. The band is now a small alts with modest capitalization, it seems x100 is only a matter of time in the future. Once the 19-year-old covid pandemic is under control, there will be more people who want to hold the Band in the long-term future. With the influence of the band now, I think the long-term possibility of x10 is quite easy, what do you think?

[chip1994]

I am a risky investor and usually only choose alts with small capitalization but great potential. Now I want to introduce you to Band, a potential alts with state-of-the-art technology that people are talking a lot about these days. Band is currently an alts with modest capitalization ($ 19m) but has a very advanced technology platform. It is being compared to Chainlink because it runs on Decentralized oracle and also has a few points better than Chainlink. The difference in value is due to the larger community of Chainlink compared to Band. So if you think that when the economy is stable again, Band has the opportunity to expand the community, it can grow with a capitalization of over $ 100m? This is quite easy and this is an alts worth investing most now. Anyway, I still want to hear your opinion about Band, just discuss with me

[SlimShadyMmp]

Its actually a good utility token with great start and good community backing I actually think it can reach 10X but it need community backing to get there Maybe some promortions and little bounties might help I think

[vlad06]

Band is okay, if you're after a real decentralised oracle token then you need to be looking at Tellor (TRB).

[gartmah]

Binance Exchange has released an announcement and added an isolated BAND trading pair for margin trading, such pairs BAND / BTC, BAND / USD will be added

https://www.binance.com/en/support/articles/282ee1b995864b37a359b463db60fa62