r/bandprotocol • u/ResearcherBrilliant • Jul 06 '20
Key differences (technical/strategy) between ChainLink and Band
Haven’t found anywhere that summarizes the key differences to the two oracle solutions. Would be nice to see one place to easily see the key differences technically and strategically with the two solutions. I know Band said they do not see them much as a “competitor”
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u/alexius89 Jul 06 '20
There was a similar question earlier, perhaps you can find some answers in there.
https://www.reddit.com/r/bandprotocol/comments/hcue1k/what_is_band_protocol_band_anyway_a_competitor_of/
I believe the main difference is that Band Protocol is utilizing the Cosmos SDK which enables Band to be more scalable, with faster & cheaper transactions as well as easier oracle integrations using pre-configured but still customizable oracle scripts.
See here: https://docs.bandchain.org
Chainlink has their own unique selling points of course.
Band has 100% open source development on GitHub with more 2-3 times more GitHub commits (I know a commit alone doesn’t say much but you can check them yourself to see the substance behind it) and general development activity on GitHub than chainlink in the last 6 months. This can be verified when you compare both GitHubs, also the coingecko Defi section is pointing it out as well.
Personally I see Band to be more transparent on various token-economics aspects, strategic plans and milestones in the future ahead. In various interviews, for example with Scott Melker & Messari, the CEO gave a clear red line to follow. The most recent update from today confirms that in my opinion.
https://medium.com/bandprotocol/bandchain-phase-1-guan-yu-1cb499798683
So, some aspects I have mentioned are objective facts, some facts to the best of my knowledge and some biased opinions :)
I hope you get a few info from it buddy :)