Band Protocol are building the future of decentralised oracles, collaborating with the likes of Chainlink, Tellor and Witnet. Oracles provide data to smart contracts. Without this data, smart contracts don't work.
If this data is incorrect, smart contracts carry out the wrong action. Recently, we've seen examples of malfunctioning DeFi projects with Synthetix and bZx because of bad oracles. Unless we solve the oracle problem, decentralised finance doesn't work. It's that simple.
Band Protocol are building a decentralised oracle network to tackle this problem. In this interview, I sit down with Soravis, Band's CEO, to discuss his thoughts on oracles and Band Protocol's solution.
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