BandChain Proof-of-Authority Network Deprecation Notice
The first Band Protocol network to allow developers to use BandChain oracles in production will be deprecated after seven months in production and over 2.6 million oracle requests. This change comes as a result of the fully decentralized BandChain with 72 active validators on Mainnet operating at 100% uptime and functionality over the last five months.
Known teams building on the Band Protocol Proof-of-Authority (POA) network have been contacted and are transitioning to Mainnet. The POA Mainnet will cease to send oracle requests on February 25 2021 GMT+7 and the network will be stopped on March 2 2021 GMT+7.
The Proof-of-Authority (PoA) Network launched due to strong demand from developers and our partners to accelerate the availability of Band Protocol for developers to utilize on a smart contract and front-end level. The PoA network was designed to be temporary and a precursor to our Mainnet that would launch on October 21, 2020.
With the BandChain securing ~$4.5 Billion in value locked in smart contracts and battle-tested against time as well as intensive audits in addition to monitoring systems set in place — we believe that it is the right time to transition all oracles to the Mainnet and deprecate the PoA network.
Using the Mainnet oracle that is secured by more than 72+ of Band Protocol’s validators, positioned globally, and aligned through economic incentives, benefit the developers in higher degrees of decentralization and security on the main network.
Transitioning From Proof-of-Authority to Mainnet
Attached below are the steps for developers building on Band Protocol PoA Network to transition to use the Mainnet Network.
PoA Band Standard Dataset Users
- Update endpoint used from
https://poa-api.bandchain.org - For non-production use, we have a public node available at
https://api-gm-lb.bandchain.org - For real/production usage, we recommend setting up your own node and REST endpoint. Feel free to contact the Band team for assistance on the matter
Example request:
curl --location --request POST 'https://api-gm-lb.bandchain.org/oracle/request_prices' \
--header 'Content-Type: application/json' \
--data-raw '{
"symbols": ["BTC"],
"min_count": 10,
"ask_count":16
}'Bandchain.js User
- We have also updated our helper library
bandchain.jsfor extended functionality - See our documentation below for more information:
Moving Forward
With the deprecation of the Band Protocol PoA Network, engineering resources and efforts will be consolidated to continue improvement on Mainnet. If you’re building on the PoA network and require help in transitioning, contact our engineering team on the Band Protocol official Discord below:
About Band Protocol
Band Protocol is a cross-chain data oracle platform that aggregates and connects real-world data and APIs to smart contracts. Band Protocol enables smart contract applications such as DeFi, prediction markets, and games to be built on-chain without relying on the single point of failure of a centralized oracle. Band Protocol is backed by a strong network of stakeholders including Sequoia Capital, one of the top venture capital firms in the world, and the leading cryptocurrency exchange, Binance.
Website | Whitepaper | Telegram | Medium | Twitter | Reddit | Github
