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

[giammangiato]

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.

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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.

..cut..

I have heard a lot about BAND, compared to CHAINLINK of course.
I didn't understand this thing about oracles very well and I don't find an understandable explanation around, could you explain to me what is the advantage of having oracles, what do they do and what are they for?

[MCobian]

I am very sorry I did not buy the Band Protool (BAND) when the price was still low, now the Band Protool is pumped.
And I missed the opportunity to be able to make a profit, it was indeed difficult to find projects like Band Protool.
I will wait for the price of the Band Protool for correction, if it drops to $ 3, I will try to buy it.

[Smitty Werben Man Jensen]

very fortunate if someone buys a BAND at $ 0.25 in 2019, it is unexpected that a BAND can rise 700% so far, of course BAND is a gem, and their mission has been fulfilled because it has reached the All Time High this year, I do not recommend to buy, but I recommend investing when the price of BAND is cheap again

[the_thing]

crypto.com just announced that they will be adding BAND protocol to their exchange but do note that BAND won't be available for the US residents.

You can read the announcement here

[Kopiev]

July 2020 update that includes all technical developments of Band Protocol partnership integration https://medium.com/bandprotocol/band-protocol-july-2020-community-update-9f4d244f5ff9

[nira09]

Today BAND tokens hit a new ATH of $ 8 USD, I really don't think BAND tokens hit a price of $ 8 USD. congratulations to BAND token holders. And another good news is that the Token Band will soon be traded on the Coinbase exchange.

https://twitter.com/CoinbasePro/status/1291123511944151046

[CuriousGeorge]

Today BAND tokens hit a new ATH of $ 8 USD, I really don't think BAND tokens hit a price of $ 8 USD. congratulations to BAND token holders. And another good news is that the Token Band will soon be traded on the Coinbase exchange.

https://twitter.com/CoinbasePro/status/1291123511944151046

That's a big news and im feeling so good to see my portfolios is going to the moon right now. I think that we will break another record again. More good news will be coming for the community and the hype for BAND is real

[optimisticcm]

Looks good and it has got the hype and fomo as well but with so much growth already i am confused about good entry now so probably i will just wait and see for now.

[mich]

Chainlink Rival Band Protocol Surged 65% Overnight — 3 Reasons Why

Chainlink rival BAND, the native token of Band Protocol, has soared by 65% in one day after Coinbase announced its listing among other factors.

https://cointelegraph.com/news/chainlink-rival-band-protocol-surged-65-overnight-3-reasons-why

[giammangiato]

I've seen this scary growth of BAND, for now blockchains with oracles are going really strong and grow fast!
but is it a passing fire or something destined to last?
honestly i'm a bit more on studying particular stable (AMPL for example) but i'm very curious about this technology

[Kopiev]

Band Chain Testnet part 2, latest updates and a guide on how to become a network validator
https://medium.com/bandprotocol/bandchain-guanyu-testnet-2-update-how-to-join-as-a-validator-416dddb4fd48

[nira09]

Today BAND tokens hit a new ATH of $ 8 USD, I really don't think BAND tokens hit a price of $ 8 USD. congratulations to BAND token holders. And another good news is that the Token Band will soon be traded on the Coinbase exchange.

https://twitter.com/CoinbasePro/status/1291123511944151046

That's a big news and im feeling so good to see my portfolios is going to the moon right now. I think that we will break another record again. More good news will be coming for the community and the hype for BAND is real

that's right, after the hard pump, BAND tokens are still growing, maybe BAND tokens will pass the price of $ 10 USD in the near future like LINK tokens which recently passed $ 10 USD. the total supply of BAND tokens is less than the total supply of LINK tokens, is it possible that the price of BAND tokens will be higher than the price of LINK tokens?

[ethereumhunter]

Today BAND tokens hit a new ATH of $ 8 USD, I really don't think BAND tokens hit a price of $ 8 USD. congratulations to BAND token holders. And another good news is that the Token Band will soon be traded on the Coinbase exchange.

https://twitter.com/CoinbasePro/status/1291123511944151046

That's a big news and im feeling so good to see my portfolios is going to the moon right now. I think that we will break another record again. More good news will be coming for the community and the hype for BAND is real

that's right, after the hard pump, BAND tokens are still growing, maybe BAND tokens will pass the price of $ 10 USD in the near future like LINK tokens which recently passed $ 10 USD. the total supply of BAND tokens is less than the total supply of LINK tokens, is it possible that the price of BAND tokens will be higher than the price of LINK tokens?

I think BAND has those chances to increase, and maybe the price will pass $10 in a short time. We don't know because as long as bitcoin price still is like this, the altcoin and the token will be up and down following bitcoin price. BAND have less total supply than LINK tokens, so maybe that can make the price to increase higher. But we should wait for a while and see what will happen to the market.

[seven.71]

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

Previously, Chainlink was a major player in Oracle Data because they still understand a little about its importance in this ecosystem and in the past few years I have seen one of these is Tellor but there is very little publication, one of the competitors who has taken over the main role in the domination of data providers, namely BAND, maybe if Tellor is ready even their marketing is very good not the 3rd possibility is Chainlink, BAND, Tellor

I think BAND has those chances to increase, and maybe the price will pass $10 in a short time. We don't know because as long as bitcoin price still is like this, the altcoin and the token will be up and down following bitcoin price. BAND have less total supply than LINK tokens, so maybe that can make the price to increase higher. But we should wait for a while and see what will happen to the market.

Basically the increase was not due to supply, I see that the increase in BAND is very significant because the public is aware that Chainlink's dominance in data providers will be taken over by BAND, even you may not have heard of one of the other competitors, namely Tellor in providing Oracle data

[cryptonx]

Leading ICON Network Validator Ubik Capital Strategically Partners with Band Protocol
Band Protocol has strategically partnered up with ICON Network’s fourth-largest public representative (P-Rep), Ubik Capital, which has over 14.5+ million ICX staked to them and 3800 unique delegators.
read more
https://medium.com/bandprotocol/leading-icon-network-validator-ubik-capital-strategically-partners-with-band-protocol-309e0f502c89

[Twentyonepaylots]

I've seen this scary growth of BAND, for now blockchains with oracles are going really strong and grow fast!

I've just seen it's growth now and it is huge, It is impressive actually for a coin like this, more than 1000% in a year, there must be a good team behind it who is working for the project greatly.  Investors should see it. Now this is what it looks like when you have a direct partnership with Defi platforms, you get an instant support from the DeFi believers. Thus the acceleration of DeFi application is going to a new technology. Just WOW.

but is it a passing fire or something destined to last?

we cannot tell but supporting it would continue its life in the market, be aware also this might be a short term, but as for what I see it, it will go to the moon.

[Bezobraznike]

   Thanks for the detailed review! I like how you explained Band Protocol and I will check more about this project! I have Link
and this amazing rise in the last weeks is great! If Band Protocol can follow Link I will be happy to invest in it!
   Both can be great long-term investments, because they are getting more popular with time!

[seven.71]

I think BAND has those chances to increase, and maybe the price will pass $10 in a short time. We don't know because as long as bitcoin price still is like this, the altcoin and the token will be up and down following bitcoin price. BAND have less total supply than LINK tokens, so maybe that can make the price to increase higher. But we should wait for a while and see what will happen to the market.

Basically the increase was not due to supply, I see that the increase in BAND is very significant because the public is aware that Chainlink's dominance in data providers will be taken over by BAND, even you may not have heard of one of the other competitors, namely Tellor in providing Oracle data

The other scenario is that some groups do pump and dump for the price, which makes people think that the price can increase because many people buy and sell the coins. We will see what will happen to the project and the coin at the market, and if the coin is really worth and has the potential to give benefits to people, I think the price will increase.

pump and dump is usually done, we see how in the binance exchange, there are buying and selling transactions, you can see a bot that keeps the BAND price in the sleigh until now and has the potential to dump it to a price of $ 6, maybe it could be more

[mich]

BAND Token is Now Available for Trading on Huobi Global

The BAND native token will be supported for trading on Huobi Global beginning August 10.

https://cointelegraph.com/news/band-token-is-now-available-for-trading-on-huobi-global

[Coin_trader]

BAND Token is Now Available for Trading on Huobi Global

The BAND native token will be supported for trading on Huobi Global beginning August 10.

https://cointelegraph.com/news/band-token-is-now-available-for-trading-on-huobi-global

I see now why this coin pumping since yesterday oracle solution project are now in trend because of chainlink but sooner the project with this same idea will be crowded just like what happened to AMPL(Ampleforth) which was cloned by many project and only changed The rebase timing which is obviously a ponzi scheme. I hope for success of BAND protocol in the future. Maybe they can follow the path of chainlink.