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Question 1: Can you give a brief introduction about Band Protocol. What is the mission of Band Protocol? What kind of problem will Band solve? @soravis

 

Band Protocol's mission is to bring and connect real-world data to blockchain, which allows smart contract to easily query and make use of those real-world data in their logic. This will enable much more use cases than what we have seen so far. The current problem with blockchain is it cannot get access to real-world data or connect to any web API to reteive data. This makes it so limited in use case. Imagine you want to build Uber but you don't have any data on location / gps coordinate (Uber uses google map API). So we want to solve this problem by creating a common data layer so any dApps to use our data.

 

Q2: What is your strongest advantage that you think will make your team leading the market? @soravis

 

Couple of factors: (1) technology, we offer cheaper, faster and scalable query model compared to current alternative. Our solution is much easier to integrate as well given data is already available on chain (2) go-to-market: we are focusing a lot in Asia market whereas most other oracle solutions are in the US. We see strong emerging use cases coming out in Asia and we are well positioned to capture this market (3) team: well balanced from both business and technical (very strong technically with team from MIT, Stanford (4) backer: our investors are mostly long term traditional investors like Sequoia and Dunamu & Partner (unlike those crypto VC that dumps tokens in day one). They also help intro to many unicorns of their portfolio.

 

Many thanks @soravis . Q3: What is your Total Addressable Market (TAM) and what do you estimate is the max share your network will take?

 

We believe data oracle is a HUGE space as all dApps from all blockchain will require access to real-world data for any meaningful applications (e.g. all defi depends on price of eth right now). Layer 2 has the potential to capture even more value than many of the layer 1 blockchain that has no traction. Given that smart contracts are as secure as the data input, market size will be as big as the money at stake, otherwise it will be cheaper to attack. Chainlink is the market leader with fully diluted market cap of $2B (~$4B at ATH). We believe we can definitely get a nice pile but keep in mind, this industry is still early and provide a lot of room to grow.

 

Q4: What are the major milestones you have achieved so far? @soravis

 

We successfully launched our testnet network on Kovan testnet with all smart contracts audited ready for mainnet. (anyone interested in exploring can go to https://app.kovan.bandprotocol.com - governance portal, and https://developer.bandprotocol.com/home/comparison.html - developer portal). We also published an application built with Band Protocol’s stack with more than 30,000 users - https://coinhatcher.com. Perhaps the most exciting of all would be the dApp we recently released, BitSwing: a decentralized platform for trading Binary Option on ethereum (https://bitswing.bandprotocol.com). Within just 2 day after release, we have already seen more than 12,000 transactions which is quite an achievement for a dApp.

 

Very hot competition! I like BitSwing so much

 

haha we have heard of story where someone play for 3 hours straight

 

Yes, so addictive this game is
Final question before moving to the next part.
Q5: Can you give us an example of what future partnerships will be like for Band Protocol? @soravis

 

Hmm we cannot comment on the specific detail but when we think of partnership, there are mainly three parties: (1) layer 1 solution such as EOS, Cosmos etc. All layer 1 need data layer for dApps to be easily built and we will partner with them as our go-to-market as they already have many developers, dApps and a lot of money. (2) data providers so for price feed, expect reputable exchanges, data aggregator sites and traditional businesses (3) dApps who will utilize our protocol so existing and upcoming DeFi and games, especially in Asia.

 

1. How will BAND PARTY convince Big Inestors to integrate with the BAND solution? 2. How many members does your team have? 3. How about the core team, technical and operational?@soravis

 

What do you want to accomplish when conducting Ama here? Can we become the data provider for Band Protocol? If possible, how do we do it?

 

Q-) What is DATA GOVERNANCE PORTAL ? Is there any plan for staking BAND PROTOCOL tokens in future. If yes then what are the ROI for staking?
Q-) what are your FUTURE TECHNICAL GOALS & What are the main difference between WEB 2.0 and WEB 3.0 ?
Q-) What are the utilities of BAND PROTOCOL tokens in this ecosystem ?
Q-) In this world of privacy you provide more transparent crowd source information through crypto incentized data curation. Then what are the preacutionary measures developed by BAND PROTOCOL TEAM for users to prevent their data ?
Q-)After launching on BINANCE EXCHANGE what is the main roadmap or businessplan of BAND PROTOCOL TEAM ? where you see BAND PROTOCOL TOKEN'S value in coming next 2 years ?

 

I see the dPoS consensus mechanism is also in other Blockchain platforms, so is Protocol's dPoS any more special?

 

Q-) What is the main reason behind BAND PROTOCOL’S partnership with CERTIK & How they are going to help you in this project ?

 

How Band tokens will be used in Crypto market ? Tokenomics is a very important factor in one ecosystem and that you have made awesome. @soravis

Will Band ensure the trustworthiness of data providers, will there be governance mechanism to ensure that they are not joining force target to collude the system? @soravis

 

Building on shared principles such as ChainLink, FOAM, DIRT; What are Band Protocol's advantages over the other 3 projects?

 

1) Can you tell more about Band Protocol ecosystem?2) Band Protocol can help people create their own token for their community, how will BandProtocol do to help they to create token?3) When will Band Protocol release your mainnet and move to your own blockchain? @soravis