Band Protocol

What is a stripe protocol?

Band Protocol Token or BAND is a utility token that supports Band Protocol. The latter represents data oracle works through a crossover circuit. It was built on the Cosmos Network.

The main function of the BAND token is serve as an incentive for users who provide network security, also known as validators.

In addition, the Band Protocol token is governance token. A user’s voting rights are directly related to the number of BAND tokens staked.

BAND was originally introduced as ERK-20 a token deployed on the Ethereum blockchain. However, the situation changed when Band Protocol launched its own network called BandChain. The BAND token was brought online and launched using the BAND standard.

It is important to note that holders of the previous ERC-20 token can easily exchange their tokens for native BAND tokens on Binance.

One of the main reasons for trading these tokens is to be able to participate in the staking process, as only new BAND tokens are allowed.

Anyone can purchase Band Protocol tokens on major supported exchanges.

The maximum limit is 100,000,000 BAND tokens, each of which must be released into circulation in 2025. The founding team allocated themselves about 20% of the total.

Given the deflationary supply of the project, there is a possibility that the price of BAND will increase as there are fewer BAND tokens available.

Band Protocol’s own tokens were launched via Initial Coin Offering (ICO) event.

Since BAND is a token, its price tends to fluctuate. Our tracker above will help you keep up with price fluctuations.

In the case of the Band Protocol crypto project, the tracker provides Band Protocol price history or the current BAND price.

What are the main features of the stripe protocol?

Band Protocol is a highly flexible decentralized data oracle. Simply put, this is provides blockchain systems with off-chain data. One of the main goals of this project is to provide real data, such as APIs, for smart contracts.

Its data oracles are based on Oracle WebAssembly (Owasm) scripts. Moreover, Band Protocol is completely prohibited.

As discussed in the “What is Band Protocol” section, the native BAND token is deployed on BandChain. The latter is the exclusive main network of Band Protocol. It works using a combination Byzantine fault tolerance (BFT) And Delegated Proof of Stake (DPoS) consensus mechanisms.

The main benefit of this type of consensus mechanism is increased security when it comes to Band Protocol oracles.

DPoS introduces staking to Band Protocol. Users who stake their BAND tokens can become validators And earn rewards in the form of BAND token. Validators are directly responsible for the security of the network. On the other hand, delegators stake their tokens in favor of the delegator and receive a share of their reward.

The Band protocol has been verified by Certik and Least Authority. These audit reports are publicly available for anyone to review.

Who developed the stripe protocol?

The Band Protocol cryptocurrency project was launched in 2017. It was co-founded by entrepreneurs Paul Chonpimai, Soravis Srinawakoon and Sorawit Suriyakarn.

Soravis Srinawakoon holds a master’s degree in management and engineering and a bachelor’s degree in computer science from Stanford University, where he also served as a teaching assistant. Prior to launching Band Protocol, he worked as a software engineer at Ericsson and a management consultant at Boston Consulting Group.

Srinawakoon is completely focused on the Band Protocol project, where he currently serves as CEO. Srinawakoon firmly believes that Band Protocol can become a leading DeFi project. He was also included in the Forbes 30 under 30 list.

Moreover, his work extends beyond the world of cryptocurrencies. Srinawakoon helped found Better Off, a charity in Thailand that provides books to children in rural areas.

Sorawit Suriyakarn is the CTO of Band Protocol. He is an experienced software engineer who has worked for large companies such as Dropbox, MemSQL, and Quora. Suriyakarn attended the Massachusetts Institute of Technology, where he received a bachelor’s degree in computer science and engineering and a master’s degree in electrical engineering and computer science.

Paul Chonpimai is also part of the founding team of Band Protocol. He is an experienced blockchain game developer who currently serves as the Director of Operations for Band Protocol.

The project’s main investors include Binance Labs, Sequoia Capital, Spartan Capital and Dunamu & Partners.