Band Protocol (BAND) is a cryptocurrency India that powers the Band Protocol network, which is constructed on its own blockchain (BandChain) and provides blockchain-agnostic oracle services. Band Protocol was developed in 2017, and an initial coin offering (IEO) made the BAND token accessible for public trade in September 2019.
The Band Protocol was created to address the same issue that other blockchain oracles face: a lack of access to real-world data on the blockchain. Following the growth of the Defi space, as well as the popularity of dApps in general, there is an increasing demand for this type of data, as keeping within the closed system of blockchain significantly restricts their use cases. However, using oracles to provide this data to the chain has its own set of issues. As a “middleman” layer, an oracle can slow down apps that use it or potentially become a security flaw.
Band Protocol solves speed and scalability problems by combining its blockchain with Cosmos’ Inter-Blockchain Communication Protocol (IBC), which sends the findings to any blockchain like the crypto app India, for further processing. As an added layer of security, the network is protected by a Byzantine fault tolerance (BFT) mechanism and the Delegated Proof-of-Stake (dPoS) consensus protocol. To gain incentives, users must stake their BAND tokens as validators, or they can delegate their tokens to a current validator. In addition, the token is utilized for governance.
Price Analysis of Band Coin
2022
As per the technical analysis and Band Protocol price projection, the BAND price is predicted to cross an average cryptocurrency market price of $11.24 in 2022, with a minimal market valuation of $10.86 predicted before this end year. Furthermore, BAND has a maximum price of $13.17.
2023
As per the technical analysis and Band Protocol price projection, the BAND price is predicted to cross an average market price of $15.86 in 2022, with a minimal market valuation of $15.30 predicted before the end of this year. Furthermore, BAND has a maximum price of $18.55.
2024
As per the technical analysis and Band Protocol price projection, the BAND price is predicted to cross an average market price of $23.28 in 2022, with a minimal market valuation of $22.48 predicted before the end of this year. Furthermore, BAND has a maximum price of $26.78.
2025
As per the technical analysis and Band Protocol price projection, the BAND price is predicted to cross an average market price of $33.17 in 2022, with a minimal market valuation of $32.00 predicted before the end of this year. Furthermore, BAND has a maximum price of $40.22.
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