Hello and welcome to this blog post about Band Protocol BAND White Paper. I am very excited to know that you are interested in this amazing technology, you will be going to amazed by the incredible potential of the blockchain.
There is a lot to learn about this futuristic tech, lets get started to dive into the Band Protocol BAND white paper and start to leverage it to build a more secure and trusted ecosystem for Industry 4.0 applications.
The aim of this blog post is to help you quickly understand about the philosophy behind the Band Protocol (BAND).
I can ensue you that, you will be able to understand every bits and pieces related to Band Protocol (BAND) after going through the Band Protocol BAND white paper.
Without wasting any further time lets get started to dive right in and lets understand white paper first.
What is white paper?
A white paper is an informational, influential, well-structured document, usually published by an organization, to provide in-depth information about a specific solution.
A white paper is used to provide a good insight into the challenges for a specific problem and a proposed solution for the same.
Band Protocol BAND White Paper
Band Protocol BAND white paper will be going to provide you, all the information that is needed to get started with Band Protocol (BAND), including the inspiration for creating, the problem it is trying to solve and the solution proposed by Band Protocol (BAND).
“The majority of existing smart contract platforms, while supporting trustless executions of arbitrary programs, lack access to real-world data. This limitation hinders the maximum potential of such contracts. BandChain was created to solve this issue by connecting public blockchains with these real-world, off-chain information. The project was created with the following design goals:
- Speed and Scalability: The system must be able to serve a large quantity of data requests to multiple public blockchains with minimal latency and while maintaining a high throughput. The expected response time must be in the order of seconds.
- Cross-Chain Compatibility: The system must be blockchain-agnostic and able to serve data to most publicly available blockchains. Verification of data authenticity on the target blockchains must be efficient and trustless by nature.
- Data Flexibility: The system must be generic and able to support different methods of retrieiving and aggregating data, including both permissionless, publicly available data as well as information guarded by centralized parties.
BandChain achieves the aforementioned goals with a blockchain specifically built for off-chain data curation. The blockchain supports generic data requests and on-chain aggregations with WebAssembly-powered oracle scripts. Oracle results on BandChain blockchain can be sent across to other blockchains via the Inter-Blockchain Communication protocol (IBC) or through customized one-way bridges with minimal latency.”
White Paper Link: Band Protocol (BAND) White Paper
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