Quote from: mcxcmiv on April 24, 2020, 07:39:02 AM

We've all seen how well Chainlink has done recently, Oracles are going to be important in the not to distant future and Band is no different.
In fact, Band has many advantages over Chainlink, looking at the chart and recent partnerships it's clear, Band is growing rapidly yet still a tiny marketcap of 10m.
You've still got time to board the train, just.

Band are a data governance framework for Web3.0 applications. It operates as an open-source standard and framework for the decentralized management of data, designed to allow users to build and manage off-chain oracles, reputation scores, identity management systems, token issuances and token curated registries.

Both BAND and Chainlink work on the decentralized oracle. Here is the difference on how Band is different from Chainlink:

1) Band focus a lot security through economic (we have staking mechanism from day 1)Usage simplicity (getting data from band is just 1 function call, while on ChainLink you need to use asynchronous + callback function)

2) speed (data is readily available query for Band and can be processed within same transaction, not for ChainLink which requires at least 3 block confirmations).

3) Cost (if you query from 7 data providers in Chainlink, it will cost you over $7 whereas for Band right now the fee is $2 and we require much less gas to process.

4) scalability: because Band data is pushed on chain, the cost is fixed regardless of how many dApps use us whereas for Chainlink, it's on demand so if there are more dApps requiring same data, ChainLink has to perform that query again and again adding to the cost.

In addition, I believe this data layer space is huge and multiple protocols with different trade-offs can co-exist. The space is quite complementary actually, as dApps will likely request data from multiple oracles to make sure they do not rely on just one source of truth (hence single point of failure)

Take a look at the Chart for band, It looks very similar to when ChainLink was about to explode, I see no reason why Band is not about to do the same.
Band release new partnerships every day and here is just a few:

- Cosmos
- Kardiachain (Band will provide the data in Viatnamese Dong and crypto pricefeeds in Mobile Payments infrastructure for over 60 million customers
- Top South Korea based Validator we staking partners with Band Protocol

I could go on, over 14 partners.
One of the assets on Coinbase Custody to
https://custody.coinbase.com/assets

AND one last major thing.. let's not forget they are the oracle provider for Binance - https://www.binance.com/en/blog/406006839228116992/Powering-DeFi-and-Crosschain-Interoperable-Decentralized-Applications-with-Binance-API-using-Band-Protocol

And what's coming.. Binance Chain.

Band protocol seriously has potential for a 100x and it is still under the radar!

The OP here has nailed it! Did you anyone else jumped on?:-)

alexius89-2

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