Band Protocol is a protocol for decentralized data governance on the Ethereum blockchain. The protocol incentivizes multiple independent parties to work cooperatively to provide trusted data. Curated information is available on-chain, ready to be consumed by other blockchain protocols or decentralized applications. Band Protocol serves as the data layer of the Web3 ecosystem, bridging real world and/or subjective information to smart contracts.
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Band Protocol allows an independent group of people or entities that share interest in curating a specific set of information to form up as a Community.
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Each community is built around its own cryptographic token, which represents ownership stake in the community and has its supply controlled by a Continuous Bonding Curve.
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The token is used as an incentive for community members to provide and verify data, using token mechanics like Token Curated DataSource or Token Curated Registry.
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All parameters in the community's smart contracts are controlled via Governance Parameters. Token holders can propose and vote for changes to those parameters anytime.
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Curated data can be consumed by the general public via a generic Query Interface. ÐApps that consume the data on-chain pay a small fee to the community.
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As more applications and end users consume data, the demand for the community token increases, providing incentive for existing data providers.
Band Protocol is currently live on Rinkeby testnet, so you can start experimenting with it. While the protocol itself is not limited to any specific data, Band Protocol develops three pilot public data endpoints that are ready for on-chain consumption today.
- Price Feed Endpoint 0x8B3d... for hourly exchange rates of BTC/USD, ETH/USD, and LTC/USD.
- Sports Result Endpoint 0x7d19... for sport results of 4 major sport leagues: NFL, NBA, MLB, and EPL.
- Lotteries Result Endpoint 0x6863... for up-to-date US Powerball and MegaMillions winning numbers.
See Data Query section for technical explanation of how to utilize these data endpoints.