Band Protocol is a decentralized cross-chain data oracle platform that connects smart contracts to real-world data and APIs, enabling developers to create custom oracles for various applications. This technology addresses the limitation of blockchains in accessing trusted external information, enhancing the functionality of decentralized applications across multiple blockchain ecosystems.
Funding
$8.9M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
BFounders
Product
Problem
Blockchains cannot natively access real-world data and APIs, limiting the functionality of smart contracts that require external information. This lack of access prevents the development of decentralized applications (dApps) that rely on off-chain data for various use cases.
Solution
Band Protocol provides a decentralized, cross-chain data oracle platform that connects smart contracts to real-world data sources and APIs. The platform enables developers to create custom oracles, granting access to reliable data without central authorities or single points of failure. By using Band Protocol, dApps can access a wide range of data, including price feeds, real-world events, sports data, weather information, and random numbers. The BandChain, built on the Cosmos SDK, ensures efficient, flexible, and scalable data queries secured through cryptographic proofs.
Target Audience
The primary audience includes blockchain developers building decentralized applications (dApps) across various sectors, such as DeFi, gaming, and supply chain, who require access to reliable, real-world data.
Features
- Cross-chain compatibility, allowing integration with various smart contract platforms and blockchain development frameworks.
- Customizable oracle scripts using WebAssembly to connect smart contracts with traditional web APIs.
- Band Standard Dataset offering real-time price information for over 175 cryptocurrencies and 20+ foreign exchange rates and commodities.
- BandChain, based on Cosmos SDK, enabling efficient and scalable data query secured through cryptographic proofs.
- Native BAND token used to secure the decentralized oracle network through delegated Proof-of-Stake and settlement for transaction fees.