Thread by @BAND_Jedi

Some asked for my take on the analysis that our friend @ChainLinkGod has expressed on $BAND vs $LINK.

Quite comprehensive, albeit biased. The piece was written as FUD against $BAND. I'm going to try my best to shed some light on points that @ChainLinkGod didn't say.

Read on👇0/

https://twitter.com/ChainLinkGod/status/1292089920056487937

🎯First and foremost, $BAND has multiple versions, but so what? The first version wasn't perceived well by developers, so the team quickly iterated and propose the new design, resulting in BandChain, which is gaining traction to rival $LINK as we see today.

1/

At the end of the day, it doesn't matter if $BAND tech is v1 or v10.

Just like there're multiple versions of Compound, Uniswap, Augur, or even Ethereum. Technology evolves to solve problems, and $BAND is doing just that. It's providing data to blockchains & dApps to use.

2/

🎯On Data Quality:

$BAND is designed to be not only decentralized, but also "transparent". The team has taken serious measure to make sure that ALL the oracle computations are visible to the end users.

Every single oracle request has a clear origin.

docs.bandchain.org/developer/tech…

3/

With transparency as a feature, $BAND has chosen NOT to compromise security by adding more point of trust for pulling the data from external sources. They only need to trust that the BandChain & staking incentive work.

4/

$LINK, on the other hand, masks the execution of how data are sourced by design, and rely on the "reputation" of each operator to follow the adapter implementation and get required data from the specified sources.

5/

Any $LINK operator can immitate adapter interface with an arbitrary implementations. Users have no way of knowing if the operator decide to lie. Not only that, but they also need to trust the operator to maintain API keys to external services -- a major point of failure.

6/

The fact that $BAND deliverately chooses to work with the data sources themselves to provide accurate data directly to the network is EXACTLY why it is better.

Should you trust the source website for API in $BAND, or trust the $LINK node opertor? You decide.😏

7/

🎯Reliance on Randomness:

So @ChainLinkGod is saying on-chain randomness shouldn't be used? Then why do @Ethereum 2.0, @Polkadot, @NEARProtocol, @ElrondNetwork RANDOMLY select validator to produce block? If what you're saying is true, then these projects must not be trusted.

8/

Of course, that's not the case. And the fact that $BAND contributor created a ticket to research how $LINK implements its oracle, doesn't mean they want to copy.

You also research how $BAND works.

If your argument is valid: ⚠️People, @ChainLinkGod is copying $BAND. ⚠️

9/

🎯Adoption Metrics:

$BAND is a work-in-progress. Everybody knows that, and that's why it's 30x less marketcap than $LINK.

That doesn't mean the tech isn't valid. If you'd known iPhone v1 before @Apple made any single sale, would you buy its stock?

ABSOLUTELY✅

Moving on.

10/

🎯Resource Efficiency and Network Design:

$LINK nodes are super efficient, is that why they need to pay upto $20 gas fee for each INDIVIDUAL data report?

$LINK reliance on Ethereum makes it extremely expensive to operate.

$BAND is fast & cheaper. Try it. You'll see. 🥱

11/

🎯Team:

It's been a while that someone have tried to sell me some big name ex-@Facebook or something is better than a small team of extreme, well-equipped builders.

@instagram built their app and scaled to tens of millions of users with 2 engineers.

Size != Quality 🚫

12/

🎯Decentralization:

$BAND is as decentralized as @Cosmos. I'd say that's pretty damn good already.

🧐Here's a million dollars question: how does $LINK staking work and how does a node operator get slashed in a NON-CENTRLIZED way?⚠️

Let me know in the comments.

13/

🎯Multi-Chain Support:

Light-client verification implemented in $BAND is the best known way to share data across multiple chains. Why? Because it DOESN'T require 3rd-party relayer to be trusted.

Anyone can relay data in a permissionless manner. That's feature, not a bug.

14/

Such 3rd-party is typically the dApp that needs to use data. It only need send 1 tx to the host blockchain and the data is ready to use.

For each oracle query, $LINK node operators summit data to host in a wasteful manner (each sends 1 tx).

100 Gwei gas cost, people 😂

15/

😎 These are my personal take on the comparison that @ChainLinkGod presented. I hope this help fight against some misinformation and unreasonable FUD against $BAND.

If you like my content, don't forget to hit the "follow" button here 👉 @BAND_Jedi.

until next time/

@ChainLinkGod @chainlink @BandProtocol @SergeyNazarov @SSrinawakoon @nomorebear @PNattapatsiri @iampickleband @AngeloWhiz @BandJediTeam @LegitoCrypto @SpartanBlack_1 @mrjasonchoi @coinbase @binance @cz_binance @MessariCrypto @CoinDesk @defiprime @Cointelegraph @decryptmedia 🤔