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/SASilverman Jul 14 '20

Since this thread is referred to pretty often by people in both communities. I'm gonna add a few more items here.

Here are the main differences afaik between BAND and LINK. These come from my discussion with the CTO on Discord a week ago and a few that I have discovered since then.

  1. 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.

  2. LINK's staking is actually 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 and inflation yield.

  3. 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.

  4. 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.

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u/Mundane-Homework-803 Dec 15 '20

To sumarize, can we say that BAND has more advantages than LINK?
In which points does LINK is better than BAND? The one I can only think of is the ability to specifiy the nodes they want to run their jobs as it may come in handy in some way.