Why did we decide to cooperate with Band Protocol?
The Everstake team selects projects for staking based on what value they bring to the crypto industry. Our mission is to support and help useful blockchain platforms develop, and to provide our clients with a reliable validator that will allow them to stake promising tokens. In this article, we will talk about one of such projects. Meet Band Protocol!
What is Band Protocol?
Band Protocol (https://bandprotocol.com/) is a decentralized blockchain platform that provides cross-chain oracles to link data from the outside world and APIs to smart contracts.
Initially, the project was based on the Ethereum blockchain, but in the summer of 2020, a decentralized Oracle Protocol based on the Cosmos Network was launched to make applications cheaper, more productive and convenient for developers. The platform provides a flexible WebAssembly Protocol and tools for developers to quickly create their own blockchain oracles.
What are blockchain oracles for?
Smart contracts cannot access data from external sources: API, cryptocurrency quotes, results of sports events, forecasts, and other information necessary for the interaction of blockchain applications (dApps). This data is important to ensure that DeFi products work correctly when performing atomic swaps and lending.
BandChain uses a decentralized network of oracles to improve the reliability and integrity of the data that smart contracts receive. This makes Band Protocol stand out among similar projects on the blockchain. Moreover, the platform is not tied to a specific blockchain and allows you to interact with smart contracts Ethereum (ETH), Polkadot (DOT) and Cosmos (ATOM).
Decentralized oracles protect data from tampering and unauthorized access. Oracles check the data and compare them with each other to achieve the greatest accuracy. The Band Protocol solution was chosen by such well-known and successful DeFi projects as Fantom Finance, Loopring (LRC), TRON (TRX), ICON (ICX), and Elrond (ERD). We wrote about the Elrond and ICON projects in our blog (https://medium.com/everstake). BAND tokens are traded on the largest exchanges such as Binance, Coinbase and Huobi Global.
Who manages the BandChain ecosystem
BandChain is managed by a decentralized network of validators — nodes that add new blocks and receive rewards in Band Protocol (BAND) tokens. You don’t have to become a validator to earn income from staking. You can delegate your tokens to one of the trusted validators, such as Everstake (https://everstake.one).
We have been developing solutions for more than two years to make our clients’ staking easier and more efficient. During this time, we have joined several major blockchain projects, such as ChainLink (LINK), Tezos (XTZ), Cardano (ADA), Cosmos (ATOM), ICON (ICX) and many others, and have formed a strong community that trusts us: more than $1 billion in tokens has already been staked for Everstake. We also offer our delegates low staking fees.
Now we have launched the validator node in the Band Protocol, and now you can stake your BAND tokens to Everstake. You can use the calculator on the Everstake website (https://everstake.one/band ) to calculate the possible revenue from Band staking. On the same page, you will find the address of the Everstake validator if you want to delegate your tokens to it and earn revenue.
On our website (https://everstake.one/band ) you will find instructions on how to delegate your Band tokens. Everstake validator address in the Band protocol: