BAND Protocol actually aims to solve two of the biggest problems in the cryptocurrency market for now. The reliability of the data sources of decentralized applications (Dapp) and the scalability of blockchain networks are seen as the two main issues that are planned to be solved with BAND Coin. It is emphasized that although blockchain technology is constantly evolving and spreading to mainstream masses, it will not reach mainstream acceptance until the scalability problem is solved.
BAND wants to reward crypto money investors who help with these solutions with BAND Coin, which it has launched as a crypto money. The project specifically aims to implement the Web 3.0 framework from a blockchain perspective and achieve full decentralization. The BandChain network, which is based on the Cosmos network, has two different cryptocurrencies, one of which is BAND Coin while the other is known as data set tokens. Data set tokens are tokens that apply the attributes assigned to them and have no material value. The team claims that the BandChain network is already capable of thousands of transactions per second.
What is BAND Coin?
BAND Coin, the core cryptocurrency of the BandChain network, is also ranked as the 97th largest cryptocurrency. Users can use BAND tokens not only for investment but also for effective staking and network management. By showing the BAND Protocol Coin as collateral, data set tokens can be purchased and the opportunity to contribute to the management of the network arises.
BAND Coin Review
When looking at the BAND Coin comments, it is seen that these are generally within the framework of the comments of DeFi projects. Although decentralized finance applications have managed to mark the last months, their popularity has started to decrease gradually. According to CoinMarketCap data, BAND has lost 17% in the last 24 hours as of the time this article was written. The BAND / USD trading pair has a unit price of $ 3.91. Experts emphasize that although the DeFi sector has gained serious recognition, it may soon lose its influence and cryptocurrencies such as BAND coin will continue to decline.
DonAlt, one of the leading cryptocurrency analysts, also added a new one to his BAND Coin comments in a video interview recently, emphasizing that although this is a promising project, it depends on the direction of the DeFi industry. Although the comments on Band Protocol are mostly positive, especially due to the Staking opportunity it offers, it is known that the competitors in this field are also increasing.BAND Coin was launched directly through Binance's IEO platform BINANCE Launchpad. For this reason, BAND tokens can be purchased quickly and smoothly on Binance , one of the world's largest cryptocurrency exchanges, according to trade volume .
