What is Band Protocol? Band Protocol (BAND) is a blockchain project that aims to enable information exchange by moving data to blockchain applications. In this article, you can find answers to questions such as what is Band Protocol, what it offers, what is BAND coin, how to get it, what is it used for. As Kriptokoin.com, we have prepared it for you. Let’s examine the project together.
What is Band Protocol?
Founded in 2017, Band Protocol is a Blockchain project that aims to move real-world data to the Blockchain and make it possible to trade them. The project works as a decentralized protocol. The BandChain blockchain uses the oracle network model. Oracle nodes act as validators as well as data processing functions. The protocol aims to attract institutional investors by working as a database and marketplace for real-world data. The project has a native cryptocurrency called BAND coin. BAND stands out with various use cases within the protocol.
Said data may include information such as weather conditions, price movements, match results. Users can transfer this data to decentralized applications on the Blockchain and use it to create new use cases. Users can transfer data to other Blockchain networks on the BandChain network. Offering cross-blockchain integration, the project also offers smart contract integration with a very simple interface. BandChain is supported by many large and global companies. Binance and Spartan Group stand out among the companies investing in the project.
What is a BAND coin? What is it used for?
BAND coin is the native cryptocurrency of Band Protocol and BandChain. Originally created on the Ethereum Blockchain, the token was later migrated to Cosmos and eventually to the protocol’s own network, BandChain. There are also versions of the token built on the Ethereum, Binance Smart Chain, xDai and Fantom blockchains. BAND stands out for its various use cases on the protocol.
Users can exchange on-chain and off-chain data via BAND coin. Weather on the protocol, etc. BAND is required to transfer and use data to decentralized applications. Users can use BAND to connect to other blockchains and deploy smart contracts via BandChain.
How to get BAND coin?
Users who want to buy the BAND coin must first find a cryptocurrency exchange where the token is listed. BAND is supported by many crypto exchanges with large trading volumes. Exchanges listing the token include Binance, Coinbase, Huobi Global, and OKX. Investors interested in the Band Protocol project can become a member of one of these exchanges. Investors who are fully registered members and deposit funds into their wallets can purchase the token.
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