Soravis Srinawakoon
CEO and Co-Founder
KEY FEATURES
Band Protocol offers a unique approach to decentralized data oracle by making data readily available to be queried on-chain, using delegated proof of stake to ensure data integrity. This offers many benefits:
Decentralized economic incentive: data providers have economic and reputation at stake to remain honest actors.
Cheap: over 50% cheaper than current decentralized alternative with much less gas consumed. Band’s smart contracts are optimized for gas usage and require less than 30,000 gas to process a query call.
Scalable: costs for data providers remain constant regardless of how many dApps are using the data. Once a datapoint is put on-chain, multiple smart contracts can consume the data without added cost to data providers.
Fast, instant query: logic can be processed within one transaction, requiring 0 blockchain confirmation. Data is readily available on blockchain so consuming data can be done synchronously within the same transaction.
Easy deployment: dApps can integrate with Band Protocol using a few lines of code, with no major modification. Querying data on Band dataset is merely a function call on a predefined interface.
Working products & traction: strong developer communities with live testnet and many developers have already started the integration on testnet.
