Band Protocol to Host Band Oracle Smart Contract Migration on February 28th

Band Protocol has announced a migration of its existing Band Oracle smart contract to a new proxy address scheduled for February 28th at 00:00 UTC.The current smart contract at address 0xDA7a001b254CD22e46d3eAB04d937489c93174C3 will be updated to the new proxy address 0x6ec95bC946DcC7425925801F4e262092E0d1f83b as part of this migration.BAND InfoBand Protocol (BAND) is a robust cross-chain oracle platform that bridges the gap between real-world data and the decentralized digital realm of blockchains. The Protocol serves as an intermediary, allowing smart contracts to interact with real-world data, and thereby facilitating the smooth and trusted operation of DApps.The backbone of the Band Protocol is its BandChain blockchain, developed using Cosmos SDK. This allows developers to create bespoke oracle scripts, tailored to provide specific real-world data to DApps and smart contracts. The scripts outline the data required, its source, the number of validators needed for data verification, and the aggregation methodology.BAND, the native token of the Band Protocol, ensures network security through its Delegated Proof-of-Stake (DPoS) consensus mechanism. Token holders can participate as validators, which involves staking BAND tokens for data integrity assurance, or as delegators. Staking or delegating BAND tokens provides holders with staking rewards and a share of the data request fees. Additionally, BAND tokens are integral to the Protocol’s governance mechanism, giving holders influence over the Protocol’s development.