Band Protocol (BAND) Feed: Events, News & Roadmap
Band Protocol Events on the Chart
What is Band Protocol?
Band Protocol (BAND) is a robust cross-chain oracle platform that bridges the gap between real-world data and the decentralized digital realm of blockchains. The Protocol serves as an intermediary, allowing smart contracts to interact with real-world data, and thereby facilitating the smooth and trusted operation of DApps.
The backbone of the Band Protocol is its BandChain blockchain, developed using Cosmos SDK. This allows developers to create bespoke oracle scripts, tailored to provide specific real-world data to DApps and smart contracts. The scripts outline the data required, its source, the number of validators needed for data verification, and the aggregation methodology.
BAND, the native token of the Band Protocol, ensures network security through its Delegated Proof-of-Stake (DPoS) consensus mechanism. Token holders can participate as validators, which involves staking BAND tokens for data integrity assurance, or as delegators. Staking or delegating BAND tokens provides holders with staking rewards and a share of the data request fees. Additionally, BAND tokens are integral to the Protocol’s governance mechanism, giving holders influence over the Protocol’s development.