What is Band Protocol (BAND)? How does it Work?
Band Protocol connects APIs to smart contracts to facilitate information exchange between on-chain and off-chain. Band Protocol was developed in 2017 by Soravis Srinawakoon, Paul Chonpimai and Sorawit Suriyakarn. Band Protocol’s native token is BAND. In this article, you can find answers to the questions of what Band Protocol (BAND) is, how does Band Protocol (BAND) work, how to buy Band Protocol (BAND) and how to trade BAND/TRY and BAND/USDT trading pairs.
Topics you will read in this article;
- What is Band Protocol (BAND)?
- How Does Band Protocol (BAND) Work?
- How to Store Band Protocol (BAND)?
- How to Buy and Sell Band Protocol (BAND)?
What is Band Protocol (BAND)? How does it work?
Band Protocol allows real-world data to be added to the blockchain. Band Protocol enhances smart contract functions by providing access to reliable data without any central authority. Band Protocol; It is stated that blockchains are created in order to not reach real-world data and to distribute real-world data to blockchains.
Band Protocol claims to improve smart contract functions by providing access to trusted data without any central authority. With Band Protocol, developers can; It is claimed that it can use data on events in the world, sports, weather and more. Band Protocol states that it aims to work on all blockchains by meeting many data requests on different subjects.
Band Protocol was founded in 2017 by Soravis Srinawakoon, Paul Chonpimai and Sorawit Suriyakarn. Band Protocol is headquartered in Bangkok, Thailand. Band Protocol was launched on the Ethereum blockchain in September 2019. In June 2020, it transitioned to the Cosmos network with the release of Band Protocol 2.0. Finally, the protocol has been moved to its own network, BandChain.
Band Protocol’s native token is BAND. BAND is built on BandChain using the Cosmos SDK. BandChain technology works by acting as a middle layer between decentralized applications and data providers.
BAND uses the Delegated Proof of Stake protocol. Users who want to participate in the network must stake the BAND token. The BAND token is also used in the governance of the network. BAND is used as collateral by validators involved in fulfilling data requests.
The total supply of BAND is limited to 100,000,000 units.
You can reach Band Protocol’s website from https://bandprotocol.com/
You can reach Band Protocol’s white paper from https://docs.bandchain.org/
How to Store Band Protocol (BAND)?
Band Protocol’s native token BAND, which aims to work on all blockchains by meeting many data requests on different subjects, is built on BandChain. BtcTurk | PRO only supports BAND token that works on Ethereum blockchain in ERC-20 format. You can manage your BAND balances with desktop, mobile and hardware wallets that support ERC-20 based Ethereum assets.
How to Buy and Sell Band Protocol (BAND)
You can use the BtcTurk | PRO mobile application or website to buy and sell Band Protocol (BAND) with Turkish lira and Tether. If you are not a member of BtcTurk, you can become a member immediately from our website or mobile application and start trading Band Protocol (BAND) by sending Turkish lira 24/7 with 7 contracted banks.
