Band Protocol

How Is the Band Protocol Network Secured?

Though BAND tokens were previously based on the ERC-20 standard, they were recently relaunched as native BAND tokens on the Band Protocol mainnet (known as BandChain).

Holders of the older tokens are able to complete a 1:1 swap by depositing their ERC-20 BAND tokens to Binance, and then withdrawing them as native tokens. This will be necessary to participate in BAND staking — which is only available for mainnet tokens.

Based on the Cosmos' SDK, BandChain is secured by a Byzantine fault Tolerance (BFT) consensus algorithm, which protects it against attacks. This works in combination with a delegated proof of stake (dPOS) setup, which secures the network’s oracles and allows BAND holders to earn staking rewards for delegating their stake to nodes.