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– TIMESTAMPS –
1:50 What are Blockchain Oracles?
3:48 What’s The Band Protocol?
5:42 Advantages of Cosmos
7:30 BAND Tokenomics
11:14 BAND Worth Dynamics
12:39 BAND Investor Demand
13:30 Crew & Traders
16:38 Band vs. Chainlink
⛓️ 🔗 Helpful Hyperlinks 🔗 ⛓️
► Band Protocol Web site:
► Band Weblog:
► Band Developer Docs:
► Staking through Ledger:
► Staking through Atomic Pockets:
🤔 What’s an Oracle? 🤔
Oracles are off chain information sources that blockchains use with a view to execute sensible contracts.
Blockchains are decentralised networks that function on parameters inside their atmosphere. They’re typically safe as a result of all the data that kinds this decentralised database may be verified on-chain.
Nonetheless, to ensure that these blockchains to be helpful in the actual world, they should get entry to data that’s exterior to them.
Due to this fact, it’s important that these sensible contract platforms are capable of reference safe offchain sources that aren’t solely censorship resistant however decentralised.
💻 Band Protocol Overview 💻
Whereas Chainlink was constructed on the Ethereum blockchain, the Band Protocol was constructed on the Cosmos community utilizing their SDK.
Cosmos has described itself as an “web” of blockchains the place totally different tokens and blockchains can talk and switch worth from each other. They’ve even developed an Inter-blockchain Communication protocol (IBC) that handles these cross chain communications.
The Band Protocol is Blockchain agnostics and may serve information to a lot of the publicly out there blockchains.
📈 Advantages of Cosmos 📈
As a result of Cosmos makes use of the Tendermint core consensus engine, it’s quick. Which means that it may very well be fast and simple for the Band protocol to ship data and information. Additionally it is scalable which signifies that they will attain out to a complete host.
Given the effectivity of the Tendermint core, it additionally signifies that information processing is cheaper. These tasks which might be at the moment hampered by the excessive gasoline prices can be inquisitive about options that may present this information with much less computational price.
💰 BAND Tokenomics 💰
BAND is the native token on the BandChain. There’s a complete of 100 million BAND in provide with a circulating provide of simply over 20 million.
There are a variety of various use circumstances for the token. These embrace:
– They can be utilized by token holders to run their very own validator nodes (staking)
– They are often delegated to different validator nodes who pay a proportion of returns earned
– They can be utilized to take part in on-chain governance
– Validators will earn a price in BAND as a reward for processing the transactions
⚡️ Worth Influence ⚡️
Every of those will impression on BAND in numerous methods. Firstly, staking takes cash off of the market which decreases provide. In the event you couple this with the additional demand to carry BAND then you may have a reducing provide and rising demand – worth optimistic.
You then even have utility demand. If extra folks use the band community then there may be extra demand for gasoline with a view to pay for computations. This will increase the value of BAND holding all else equal.
⛓ Band Subsequent Chainlink? ⛓
Firstly, it’s important to ask your self the place you assume DeFi goes within the subsequent 12 months. In the event you assume that it’s more likely to increase to different blockchains and ecosystems then the Band protocol is more likely to be an excellent recipient of that.
In the event you assume that it’s more likely to stay an Ethereum primarily based ecosystem, then I do not see Band been capable of lower into Chainlink’s market share.
In fact, the Band protocol doesn’t have to duplicate the success of chainlink to be an extremely good funding. There’s nonetheless appreciable development even when it solely captures a portion of that.
📜 Disclaimer 📜
The knowledge contained herein is for informational functions solely. Nothing herein shall be construed to be monetary authorized or tax recommendation. The content material of this video is solely the opinions of the speaker who shouldn’t be a licensed monetary advisor or registered funding advisor. Buying and selling Foreign exchange, cryptocurrencies and CFDs poses appreciable threat of loss. The speaker doesn’t assure any explicit end result.
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Source: Coin Bureau