Band Protocol works with Cosmos, Ethereum, and other blockchains as a cross-chain oracle for decentralized apps (dapps). The platform allows dapps to get data from web-based application programming interfaces (or APIs), and it also has other use cases, such as e-sports data, the weather, and sports scores.
MoreBand Protocol uses blockchain-based smart contracts and provides information utilizing data feeds that are collected from outside the blockchain or other data sources throughout the internet, and the information is supplied on to on-chain applications. It has a native blockchain called BandChain, which is essential in ensuring validated and publicly checked transactions.
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Developed by a Thailand-based startup, Band Protocol’s founders are Soravis Srinawakoon, Paul Nattapatsiri, and Sorawit Suriyakarn. Srinawakoon is the CEO, Nattapatsiri is the CPO, and Suriyakarn is the CTO. All three founders are highly experienced builders with backgrounds in software engineering, management consultancy, web development, and programming. Prior to creating Band Protocol, each one of them held significant positions in reputable companies such as The Boston Consulting Group, Ericsson, Tripadvisor, and Dropbox. Several venture capital firms helped Band Protocol raise more or less $3 million in 2019, and an additional $5.85 million when it had its ICO (initial coin offering) later that same year. Originally, Band Protocol came out with an Ethereum blockchain-based ERC20 project in September 2019. When it released Band Protocol 2.0 sometime in June the following year, it converted to another network – Cosmos. As such, the updated protocol used the Cosmos software development kit (SDK) and is based on BandChain.