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Hey Jedi,
Looking deeply into $BAND's relatively low-key partnership & integration, we can gain insight into why @BandProtocol is PRECISELY the hidden gem most people still undervalue.
I've already loaded my #bag, so I'd share this with you so now you know it too.
1/ https://twitter.com/BandProtocol/status/1295299820865769472
First things to look into when it comes to ANY blockchain product, especially #DeFi, are on-chain usages & value accumulated.$BAND is still in nascent stage & largely under development, but the recent PoA mainnet and @dForcenet partnership today make a HUGE difference.
2/
Let's get a glimpse into how $BAND oracles will begin to dominate oracle landscape for #DeFi projects in upcoming weeks & months.
This starts with GOLDx oracle script.
Read on for why I'm thrilled to see it in action
3/
This starts with GOLDx oracle script.
Read on for why I'm thrilled to see it in action
3/
Oracle-WebAssembly (OWASM)https://guanyu-poa.cosmoscan.io/oracle-script/6#bridge
$BAND has always taken extraordinary steps to ensure transparency of the oracle. With @rustlang being used to power the oracle logics, dApp users can put absolute faith onto the oracle "code" instead of oracle operators.
4/
Having developers able to code their own oracles is very critical.
Remember back in 2014 when custom blockchains were created left & right to support new use cases -- the lengthy process superseded by invention of @Ethereum?
$BAND is changing how oracles are built & used
5/
Remember back in 2014 when custom blockchains were created left & right to support new use cases -- the lengthy process superseded by invention of @Ethereum?
$BAND is changing how oracles are built & used
5/
Just look into an oracle request for example:
https://guanyu-poa.cosmoscan.io/request/18778
The level of transparency & detail that $BAND has put into each oracle request is absolutely INSANE
You'll see
Validators fulfilling request
Each data report
Proof of validity
Check it out
6/
https://guanyu-poa.cosmoscan.io/request/18778
The level of transparency & detail that $BAND has put into each oracle request is absolutely INSANE
You'll see
Validators fulfilling requestEach data reportProof of validity Check it out6/
Scalabilityhttps://guanyu-poa.cosmoscan.io/oracle-script/6#requests
With @Cosmo at the heart
of $BAND oracle, #BandChain is capable of supporting requests as frequently as every 2 minutes for hundreds of dApps.The oracle solution in the market updates data every 1-3 hours.
It's 100x improvement
7/
Although it's still unclear ATM, the cost of creating & using $BAND oracle will be substantially lower than those built on @Ethereum.
Lower cost: $100 --> a few dollars
Higher frequency: every 1-3 hours --> 1-2 minutes
Lower data delay: 2-3 minutes --> 3-6 seconds
8/
Lower cost: $100 --> a few dollars Higher frequency: every 1-3 hours --> 1-2 minutes Lower data delay: 2-3 minutes --> 3-6 seconds8/
Portability$BAND oracle can be used across multiple blockchains, including most EVM-based layer-1 & layer-2, @helloiconworld, and @wavesprotocol. I believe more compatibilities will come as light-client verification bridges are implemented in more blockchain going forward
9/
The fact that $BAND will also be able to natively support @Polkadot & @cosmos applications over IBC protocol makes @BandProtocol potentially the best #oracle project to date.
Wouldn't you agree?
@oddgems @SpartanBlack_1 @DeFi_Dad @iampickleband https://twitter.com/nomorebear/status/1290682544287973376
Wouldn't you agree?
@oddgems @SpartanBlack_1 @DeFi_Dad @iampickleband https://twitter.com/nomorebear/status/1290682544287973376
