08/11/2021
BAND Price Live Data
The live Band Protocol price today is $9.37 USD with a 24-hour trading volume of $33,685,908 USD. We update our BAND to USD price in real-time. Band Protocol is up 0.82% in the last 24 hours. The current CoinMarketCap ranking is #178, with a live market cap of $329,619,348 USD. It has a circulating supply of 35,191,821 BAND coins and the max. supply is not available.
If you would like to know where to buy Band Protocol, the top exchanges for trading in Band Protocol are currently Binance, Mandala Exchange, OKEx, FTX, and CoinTiger. You can find others listed on our crypto exchanges page.
What Is Band Protocol (BAND)?
Band Protocol is a cross-chain data oracle platform that is able to take real-world data and supply it to on-chain applications, while also connecting APIs to smart-contracts to facilitate the exchange of information between on-chain and off-chain data sources.
By supplying reputable, verifiable real-world data to blockchains, Band Protocol unlocks a range of new use cases for developers to explore — since they can now use any type of real-world data as part of their decentralized application (DApp) logic, including sports, weather, random numbers, price feed data and more.
Band Protocol initially launched as an ERC-20 project on the Ethereum blockchain in September 2019, but transitioned to the Cosmos network in June 2020 with the release of Band Protocol 2.0. The new protocol is built on BandChain using the Cosmos SDK. Oracle nodes on BandChain not only relay data but are also involved in block production/validation, giving them a dual role.
BAND is the native token of the Band Protocol ecosystem and is used as collateral by validators involved in fulfilling data requests, as well as the main medium of exchange on BandChain — being used to paying for private data.
Who Are the Founders of Band Protocol?
Band Protocol was founded in 2017 by Soravis Srinawakoon, Paul Chonpimai and Sorawit Suriyakarn.
Soravis Srinawakoon, the current CEO of Band Protocol, is a former software engineer at Ericsson and management consultant at The Boston Consulting Group. Paul Chonpimai, on the other hand, is Band Protocol's CPO, and a former web developer at Turfmapp and engineer at Tripadvisor. Lastly, former software engineer at Dropbox and Quora Sorawit Suriyakarn is Band Protocol's current CTO and a gold medalist competitive programmer.
In addition to the founding team, the Band Protocol LinkedIn page currently lists a total of 20 additional employees, most of which are scattered throughout Asia, and include designers, developers and engineers. The platform is also supported by major global investors, including Sequoia Capital, Dunamu & Partners, Spartan Group and Binance.
What Makes Band Protocol Unique?
Band Protocol is designed to be faster and more efficient than competing oracle solutions and is also compatible with most blockchain and smart contract development frameworks — ensuring reliable data can be fed to and from multiple different blockchains.
To achieve its cross-chain data transfer, Band Protocol plans to leverage Cosmos' still in-development Inter Blockchain Communication (IBC) protocol. It remains unclear how long it will take until the IBC is operational and ready for use.
Band Protocol is designed to offer permissionless oracle creation, allowing anybody to start servicing data requests. It also offers extremely simple smart contract integration, allowing developers to begin using data from Band Protocol oracles with just a few lines of code by calling on a predefined interface.
