Binance Launchpad-- a token launch platform for <a href="https://www.cryptoknowmics.com/crypto/binances-boost-bnb-ready-for-43-after-july-18-signal/">Binance</a> transformative blockchain projects-- announced token sale support for Binance Band Protocol. It is the ninth project of the year from the leading crypto exchange.

As <a href="https://www.binance.com/en/amp/blog/376651721968721920/Binance-Launchpad-To-Host-The-Token-Sale-of-Band-Protocol">reported</a> Friday, Binance Launchpad will host the token sale of the project based on Its updated lottery format. Also, the ticket claim will start from Sept. 16, 2019, at 06:00 UTC. 

USD$3 million was secured from lead investors in seed investments for the project this year. The investors include Sequoia India, and Dunamu &amp; Partners, and VC fund SeaX Ventures. 

According to the <a href="https://bandprotocol.com/">website</a>, Band Protocol is a platform that "connects smart contracts with trusted off-chain information, provided through community-curated data providers." 

The objective of the development is to introduce a scalable and trustworthy decentralized database for decentralized applications (dApps).

Usually, many developers and companies with dApps consume data through centralized oracles that are external to the blockchain. 

"Currently, the trusted oracle problem is a significant hurdle for mass adoption of decentralized applications, as its weakness in security severely limits the use cases that can be built using smart contracts." Soravis Srinawakoon, the CEO of Band Protocol, said.

Binance's Band Protocol instead, allows for data consumption through its public smart contract data points. The project features an open protocol for decentralized data governance on public blockchains, including Ethereum, EOS, and Cosmos.

This Integration enables dApps to leverage existing data on the internet without bridging the use cases between Web 2.0 and 3.0.

Moving forward, the report revealed that Band Protocol is believed to attract more dApp developers from different spheres.

It will include developers from, e-commerce, gaming, decentralized finance, gambling, supply chain tracking, prediction markets, and others.

According to Binance CEO, Changpeng Zhao, also known as CZ for short:

"[...]Using a community-driven approach, the Band Protocol solves an important problem in the industry: trust in third-party data sources, which is necessary for decentralized applications working on the blockchain and further mass adoption of crypto technologies."

Binance Launchpad to Support Exchange's Ninth Project Token Sale

Ibiam Wayas is an optimistic crypto news reporter who also enjoys tech writing. He is an introvert who spends much of his time on the internet studying facts that will help him excel in the digital/cryptocurrency space.

Binance Launchpad to Support Exchange's Ninth Project Token Sale

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