I Keep Eyeing Band Protocol...When Will I Buy Some??? by rollandthomas

hive-167922 · @rollandthomas · Dec 17 '20 (edited)

$1.72

I Keep Eyeing Band Protocol...When Will I Buy Some???

<center>![image.png](https://images.hive.blog/DQmXkzb629KoukGHokgG8V4414pJ6Fe7inH6mzgbHUbooxX/image.png)</center>

ChainLink is a platform which attempts to bridge the gap between smart contracts on the blockchain and real-world applications, which often tend to be off the blockchain. The cryptocurrency uses “oracles”, which find and verify real-world data and bring it on-chain to be integrated into smart contracts.

The new thing in the crypto world is de-fi. We have seen a boat load of money pour into these de-fi coins in the last couple of months. And it makes since. People who are sitting on Bitcoin, Ethereum, etc. now have an alternative means to make some money while they HODL their crypto portfolio.

Top defi projects on Ethereum include MakerDAO, Dai, Synthetix, Compound, among others. Some of these projects have now integrated Chainlink’s oracles. ChainLink was once a under the radar company a year ago, but things have quickly changed this year.

Band Protocol has been around for a few years and was originally designed to feed accurate data to online communities built on cryptocurrency blockchains. But the development of the DeFi and Dapps forced Band Protocol to switch gears due to the lack of certifiable information. Band Protocol’s mission now is to create a platform which sources reliable real-world data and bring that data to the decentralized world.

This year Band Protocol has partnered with many name brand cryptocurrency projects and the BAND token has gain the notoriety and popularity to the point of getting listed on such exchanges as Coinbase. And while Chainlink seems to be grabbing all the attention, Band Protocol has been working behind the scenes.

Sequoia-backed cross-chain data oracle Band Protocol, has joined the OpenAPI Initiative as the first blockchain firm alongside Google, eBay and Microsoft, to connect blockchain applications to common Application Programming Interfaces (API) and streamline the exchange of data between smart contracts and off-chain data sources.

“Our mission is to define a common API standard for blockchain applications by collaborating with prestigious partners to bridge the gap between centralized data, APIs, and smart contracts on the blockchain,” said Soravis Srinawakoon, CEO and Co-Founder of Band Protocol.

An API is a software intermediary that makes it possible for two applications to share information easily and efficiently to enhance accessibility and user experience.

</blockquote>

<center><a href="https://www.cryptoninjas.net/2020/12/14/band-protocol-becomes-first-blockchain-firm-to-join-the-openapi-initiative/">Source</a></center>

When it comes to oracles on the blockchain, Chainlink is the 800 lb gorilla in the room with a $5 billion market cap. And although many say Chainlink could reach $1000, I don't like the fact that the founders and their team own most of the tokens. Meanwhile, Band Protocol has a $150 million market cap and I would be OK purchasing Band Protocol over Chainlink as the de-fi space is just in the 1st inning. I need to stop half-stepping, just buy some and get it over with despite the daily demand at $9.

![image.png](https://images.hive.blog/DQmeqGvQRHEyxvKo8Gp4bMjpM5Bh9gXewGUC6L87Nr6XYYb/image.png)

This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/hive-167922/@rollandthomas/i-keep-eyeing-band-protocol-when-will-i-buy-some)

👍 leo.voter, sanjeevm, bitcoinflood, gank, simplifylife, celi130, khaleelkazi, cryptomaniacsgr, leosoph, scaredycatguide, beehivetrader, ctpsb, botante, jondoe, lenonmc21, leofinance, damla, leeyh2, superlao, good.game, he-index, break-out-trader, mitchelljaworski, empoderat, thebluewin, rmsadkri, yameen, scaredycatcurate, engrsayful, tariqul.bibm, luppers, schubes, gadrian, spinvest-leo, auminda, shanghaipreneur, erarium, babytarazkp, steem-key, steemboat-steve, dhingvimal, khalil319, netaterra.leo, snoochieboochies, karmadorje, gualteramarelo, flauwy, hykss, travelwritemoney, leo.curator, heruvim1978, leotrail, hodol, actioncats, leovoter, leoschein, sharkleo, kaniz, razam, mhm-philippines, investprosper, hanez, tonimontana.leo, annabellenoelle, and 81 others

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