They are both working on verifying data validity right now but to answer the question plainly, there is not going to be one #Blockchain solution in any of the fields to rule them all, this is a perfect example of two block chains that will work in tandem with each other.
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$Band vs $link dep dive.
In many if not most use cases band protocol will be used ALONGSIDE that of #chainlink. $Band has a stronghold in South East Asia and will also generally pull it's data from different sources than link.
They are both working on verifying data validity right now but to answer the question plainly, there is not going to be one #Blockchain solution in any of the fields to rule them all, this is a perfect example of two block chains that will work in tandem with each other.
$link has seen mass adoption and band has a long way to go, but by the look of who is invested in #Band (sequoia capital) and the fact that they are already being used in conjunction with each other, I see a bright future for this #chainlink ally! (Not competitor).
These definitely are in the same market, but don't let that worry you, $Band does differentiate itself enough to make this more of an oligopoly than a monopoly. I see more financial gains in band if you invest now, but of course there is no reward without risk.
#Bandchain has the bonus of being built on cosmos technology that will allow it to easily interconnect with other blockchains and make it easier to be an oracle source for other non-Ethereum based smart contracts that need a decentralized oracle.
$LINK needs more than one transaction for one data pull. #BAND can do it in one. This makes oracle services on $BAND cheaper in theory.
$LINK's staking is just a security deposit to be able to run oracle jobs. There is no inflation yield. #BAND's staking doesn't act as a security deposit because all validators have a chance to run jobs based on their staking power. $BAND has both data fee & inflation yield.
Since $LINK's node needs security deposit, only a certain set of nodes can run a job. All $BAND nodes can run all jobs on #BAND by design
$LINK's users can even specify the exact nodes they want to run their jobs on. $BAND's users only submit jobs at the protocol level without having to worry about choosing a node. Nodes are chosen by the blockchain. This makes the process simpler.
“If you look at #Chainlink, one data request right now can take almost $450 because someone needs to submit the request data to ask for the data
Let's say 20 data providers need to receive that, respond to that with 20 transactions, and then the aggregation contract to do all the computation before returning the final result, all of these require a lot of gas.”
Srinawakoon believes that low fees is only one of the advantages that #Band holds over its main competitor, additionally noting greater interoperability (he mentioned that $Band oracles are already available on Waves, $TRON (TRX) and $ICON) and decentralization.
More from Finance
Having made over 1000 boxes for vulnerable families in Cambridge via @RedHenCambridge (thanks to our customers 🙏🏽) My thoughts on the £30 box thing. Lots of factors at play here. 1/
If the pics in this @BootstrapCook thread are true and correct then the Govt/taxpayers & families in need are getting absolutely SHAFTED 👇🏽 2/
There are some mitigating circumstances. A £30 box won’t ever contain £30 (retail) worth of food - people aren’t factoring in
-the cost of the box
-paying someone to fill it
-rent & rates
-& most expensive the *transport/distribution*
3/
If you’re doing the above at scale. Delivering *across the UK* it’s not cheap BUT IMHO there should be at LEAST £20 worth of groceries in a £30 box. To get more value they need more fresh produce. Just carrots & apples is terrible. 4/
I’m gonna put my rep on the line here & say something about these big national catering companies whose names I’ve seen mentioned. They are an ASSHOLE to deal with & completely shaft small businesses like mine with their terms which is why I won’t deal with them. 5/
If the pics in this @BootstrapCook thread are true and correct then the Govt/taxpayers & families in need are getting absolutely SHAFTED 👇🏽 2/
Hi all. I\u2019ve been sent LOTS of photos of the food parcels that have replaced the \xa330 vouchers and asked what I would do with them. I\u2019m replying with advice privately because to do so publicly would look like justifying these ill thought through, offensively meagre scraps /1.
— Jack Monroe (@BootstrapCook) January 11, 2021
There are some mitigating circumstances. A £30 box won’t ever contain £30 (retail) worth of food - people aren’t factoring in
-the cost of the box
-paying someone to fill it
-rent & rates
-& most expensive the *transport/distribution*
3/
If you’re doing the above at scale. Delivering *across the UK* it’s not cheap BUT IMHO there should be at LEAST £20 worth of groceries in a £30 box. To get more value they need more fresh produce. Just carrots & apples is terrible. 4/
I’m gonna put my rep on the line here & say something about these big national catering companies whose names I’ve seen mentioned. They are an ASSHOLE to deal with & completely shaft small businesses like mine with their terms which is why I won’t deal with them. 5/
Last week Hizbollah's finance institution Al Qard el Hasan was hacked by Spiderz. A group of people took that Data and tried to make sense out of it. Below are the findings
https://t.co/eGLqvb28o5
Loans are provided to borrowers for gold deposits or other guarantees, to the association's members and to unsecured applicants.
AQAH had a carried forward loan balance of $450 million as of December 31, 2019. This balance has been increasing at a yearly rate of 13.4%.
AQAH laundered around $475 million in 2019 in the form of disbursed loans paid to more than 20,000 borrower accounts; mostly to borrowers with gold deposits.
Deposits accounts have been offered to 307,000 members of the association, 83,000 contributors as well as to 600 companies. AQAH closed 2019 with an overall depositors accounts balance of around $500 million.
https://t.co/eGLqvb28o5
Loans are provided to borrowers for gold deposits or other guarantees, to the association's members and to unsecured applicants.
AQAH had a carried forward loan balance of $450 million as of December 31, 2019. This balance has been increasing at a yearly rate of 13.4%.
AQAH laundered around $475 million in 2019 in the form of disbursed loans paid to more than 20,000 borrower accounts; mostly to borrowers with gold deposits.
Deposits accounts have been offered to 307,000 members of the association, 83,000 contributors as well as to 600 companies. AQAH closed 2019 with an overall depositors accounts balance of around $500 million.
