Thanks Processor @allbert, for introducing us to this Oracle blockchain. I really learned from this lesson. We know how strongly the blockchain has had a positive effect in today's world. It is a blessing that we live in this world. Of course, there is a good side to something as well as a bad side, this is no exception. But the present age is a blessing for all of us.

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Blockchain Oracle

First of all, if we talk about Oracle blockchain, then the blockchain Oracle is a third party service that provides smart contracts with oversea information.

They work like a bridge, like a bridge connecting two cities, it connects the blockchain and the outside of the world.

As Oracle chains create links between off-chain data and on-chain data, they play many vital roles in the blockchain ecosystem, Because the smart contracts work in the opportunity they create. Without blockchain Oracle, smart contracts will have a very small spread because they will only be able to access data from within their networks, not from outside.

History and Description. Does it have any token or cryptocurrency associated? Explain.

The band protocol was launched in Thailand in September 2019. There are three CEOs, Soravis Srinawakoon, who is chief executive officer,Sorawit Suriyakarn who is chief technology officer, and Paul Nattapatsiri who is chief product officer. It was released on the eth blockchain.

The band protocol was created a few years ago to address the lack of real-world information access to run smart contract applications. It also had the purpose of providing reliable transaction speed and scalability (to have the ability to request large amounts of data on multiple public blockchains with very low latency)

BandChain mainnet was released in fully in four phase, those phase are below, let's take a look into:

The first phase is Phase 0, it was launched on June 7, 2020. Phase 0 is the main version of the BandChain that introduced band token transfer and stacking opportunity for validators.

Phase 1 was completed on October 15, 2020 and launched on the same day. In this phase Customizable data that supports permissionless creation of Oracle scripts.

Phase 2, The goal of this phase is to allow API providers to commercialize their data on-chain and create opportunities to generate on-chain revenue.

Phase 3 This phase had several goals, one of which was to introduce one more payment option and to make it easier for developers to pay through tokens.

BAND Token:

As you can see in the screenshot above, the current price is 7.65$ per BAND, which is down 6.77% in the last 24 hours. And also It currently ranks at number 157 in the market rank by Coinmarketcap and its market cap of $289,050,226$

And BAND token are being traded on several exchanges. These include centralized and decentralized exchanges. You can see in the screenshot below that all the exchanges are being traded.

2- Functionalities and real-life applications.

As we know, band protocols are designed to be efficient, safe and fast, with the aim of speeding up data transfer. Other blockchains have the same features, so the band's goal is to improve over other blockchains.

The main focus of the band protocol is increase the speed, its scalability, cross-chain compatibility and more data flexibility with connect the data from outside the world. The band protocol works to provide data quickly and reliably across a wide variety of public blockchains over its response time by measuring every second to adequately support the data requirements of smart contract requests.

When using the band protocol, the process of verifying data through participants is conducted by network participants who hold the band token.

Pros and Cons

Pros:

• We know that Band protocol is using DPoS which makes it more fast and efficient than other blockchains.

• If you stake or hold Band tokens, you will be rewarded based on that token.

• This is a completely decentralized technology. We are familiar with many blockchains that behave like centralized blockchains despite being decentralized technology. This means that they are not completely transparent. But this technology is a full-fledged transparent blockchain that encourages more users and investors.

• The data in this protocol becomes synchronized in a very short time.

• This blockchain is protected from hackers just as the decentralized blockchain should be.

Cons

• Delegators are accountable to the validators. Because delegators cannot operate without validators. So validators have more power than delegators.

• Band token cannot be traded, only usecase is stake.

• As far as we know it is about decentralization, but there is third party involvement. Which is really a bad effect for a decentralized blockchain.

• Validators gets 2% per block for confirmation.

Future developments and new projects of the Band protocol.

1. On April 15 20121, According to Kevin lu a few days ago, the band protocol is going to connect to Google Cloud. You can see in the screenshot below and I will give below the medium link from where you can read the whole blog.

The news about Band protocol and Google cloud

1. August 6, Kraken Crypto Exchange announced that they had listed band token.

2. 21st of July, Omm Finance (Omm finance is a platform where anyone can borrow and lend assets and earn) has made an announcement to enter into an agreement with the band protocol. Until now band tokens could only be stake, band tokens can also be traded after this announcement.

Conclusion:

After mastering the professor's lecture, I learned a lot from myself until I submitted my homework. Trying to do a lot of research for homework and writing on my own has helped me improve a lot. Today I have learned a lot about band protocol or Oracle blockchain through this lecture. Although the band protocol will not be used too much, it is a pleasure to learn.