### What is Band Protocol?

Band Protocol is a decentralized oracle platform designed to connect blockchain smart contracts with real-world and off-chain data seamlessly. It fulfills a crucial need by enabling smart contracts to access external information, thus facilitating a range of blockchain applications.

### How does Band Protocol work?

Band Protocol operates on its own blockchain known as BandChain, built with the Cosmos SDK to support cross-chain compatibility and interoperability. It utilizes a network of validators and delegators, working under a Delegated Proof of Stake (DPoS) consensus mechanism, to ensure data integrity and reliability. Validator nodes not only participate in block validation but also ensure accurate data relay to smart contracts using Band’s decentralized network.

### What are the potential use cases for Band Protocol?

Band Protocol can be applied in various contexts, including:

1. **Decentralized Finance (DeFi)**: Provides accurate price feeds essential for lending, borrowing, and trading.
2. **Gaming**: Offers verifiable randomness for fairness in game operations.
3. **Decentralised Exchanges (DEXs)**: Delivers real-time cryptocurrency price data.
4. **Prediction Markets**: Supplies decentralized data verification.
5. **Supply Chain Management**: Improves transparency with verifiable data points.
6. **Insurance**: Facilitates accurate data for policy claims.
7. **Identity Verification**: Ensures secure and verifiable data handling.

### What is the history of Band Protocol?

Band Protocol was founded in 2017 by Soravis Srinawakoon, Paul Nattapatsiri, and Sorawit Suriyakarn, emerging from the premise of addressing data reliability issues in decentralized networks. Initially launched on Ethereum in 2017, it transitioned to its own BandChain using the Cosmos SDK in 2020, marking a significant upgrade to enhance scalability and cross-chain operations. Supported by notable investments from Binance Labs and Sequoia Capital, the protocol has continued to evolve with active community and institutional engagement.

Band Protocol (BAND)

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