Link vs. Band: Which is better?

Oracle technology lies behind the Chainlink legend. Chainlink also offers Band Protocol, a service similar to oracle infrastructure. Who is superior in DeFi oracle wars?

DeFi oracle wars

Chainlink can transfer off-chain data to blockchain thanks to its oracle services. Chainlink also helps data flow between blockchains.. When businesses from the real economy want to transform their infrastructure with blockchain technology, they need to transfer the data of their companies to the blockchain.. For example, businesses that want to use blockchain in their supply chain need to transfer the data of the input flow to the blockchain.. Chainlink fills the gap in this regard.

Similarly, DeFi platforms also receive support from Chainlink’s oracle services to pull data on crypto currency prices.. Chainlink sells oracle services to both DeFi platforms and many businesses from the real economy, and Chainlink oracle services are in high demand in this regard.. Chainlink oracle services underlie the extraordinary increase in Chainlink prices in 2020.

Chainlink coin said hello to 2020 at $1.80. Chainlink broke the all-time record by seeing $10.19 on 07.08.2020 (today). There was a 466% increase in value in link prices. Band Protocol in the Oracle industry says “me too”. It comes out as a competitor to Chainlink.

We see the change in Chainlink prices in the chart below.

BAND, the cryptocurrency of Band Protocol, is trading at $ 8.11 at the time of writing. Band has a total market cap of $166 million and ranks 63rd in CoinMarketCap.. Band coin hit its highest value at $8.56 on August 6, 2020 (yesterday).

The total market supply of Chainlink is 1,000,000,000. 35% of this figure has been released. The amount of links traded in the market is 350,000,000.

Band’s total market supply is 100,000,000. 20% of this figure was released. The number of Bands traded in the market is 20,494,033.

We see the change in BAND prices in the chart below.

Source

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