Band Protocol Offers Oracle Tools for Web3, Passive Income for Data Sharing

Band Protocol uses the Cosmos blockchain technology for cross-network communication.
  • Band Protocol has offered oracle data since 2018, but lately concentrates on Web3.
  • The blockchain offers data-sharing services and anyone can earn passive income.
  • Band Protocol works with leading blockchains, adding new partnerships.

Band Protocol has been around since 2018, offering oracle services for a growing array of blockchains. Band Protocol offers a similar service to ChainLink, though this project specializes in data for Web3

Band Protocol has already partnered with multiple established blockchains, and will also use its tools for confidential communication. 

Band Protocol also specializes in multi-chain apps, using fast API and delivering timely cross-chain data.

Band Protocol allows developers to use any type of data, both blockchain-specific and related to external events such as sports results, weather and more. Band Protocol aims to get its oracle services beyond price feeds, while also being able to connect with smart contracts on a growing list of networks. 

Band Protocol targets developers directly, by offering a script to create custom oracles. The script is entirely open source and allows developers to reach many types of data, combining them with a fast blockchain API call.

According to Band Protocol data, the network is handling as many as 32K data requests per day. 

Band Protocol Targets Data Providers

Band Protocol is targeting advanced teams in the blockchain and Web3 space. One of the products is a data provider toolset, where players in the ecosystem can share and monetize their data.

All organizations can set up a wallet with Band Protocol, and register as a data provider. Band Protocol also hosts a data marketplace, where all participants can sell their data for as long as they wish. 

Band Protocol also integrates inter-chain bridges (IBC) technology through the Cosmos platform. Other services include a standard dataset on a wide selection of token pricing. Band Chain is also offering a native platform and block explorer. 

At the end of April, Band Protocol upgraded its mainnet to a new version, calling for all validators to upgrade their nodes.

Band Protocol is built using the Cosmos framework and SDK, one of the widely adopted technologies for cross-chain communication. Band Protocol also works with Ethereum, BSC and other prominent blockchains like Avalanche, Celo, Oasis, and Fantom.

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