Space Summary
The Twitter Space Band v3 Fireside Chat hosted by BandProtocol. In the Band v3 Fireside Chat, experts delve into the significance of a secure and scalable cross-chain decentralized Boring Oracle service. Band v3's role in enhancing data accuracy, scalability, and security for decentralized applications is thoroughly examined. The discussion emphasizes the importance of decentralized Oracles like Band v3 in bridging real-world data with blockchain technology seamlessly. With a focus on cross-chain compatibility and reliable data feeds, Band v3 aims to revolutionize smart contract functionalities and improve overall blockchain operations.
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Questions
Q: What is the main focus of Band v3 in the Fireside Chat?
A: Band v3 emphasizes providing a secure and scalable cross-chain decentralized Oracle service.
Q: How does Band v3 connect smart contracts to external data and APIs?
A: Band v3 effectively links smart contracts with external data sources and APIs to enhance functionalities.
Q: Why is cross-chain compatibility essential for Band v3's Oracle service?
A: Cross-chain compatibility ensures seamless data flow across different blockchain networks.
Q: What role does Band v3 play in improving data accuracy for decentralized applications?
A: Band v3 enhances data accuracy and reliability, crucial for decentralized app operations.
Q: Why is scalability significant in Band v3's Oracle service?
A: Scalability ensures wider adoption and usability of Band v3's Oracle service.
Q: How does Band v3 contribute to bridging real-world data with blockchain technology?
A: Band v3 seamlessly integrates external data sources with blockchain, enabling real-world applications.
Q: What is discussed regarding the security enhancements provided by Band v3?
A: Band v3 is highlighted for its role in improving security measures within decentralized applications.
Q: Why are decentralized Oracles important in blockchain development?
A: Decentralized Oracles like Band v3 are crucial for accessing secure external data for smart contract operations.
Q: In what way does Band v3 impact smart contract functionalities?
A: Band v3 enhances smart contract operations by providing secure and reliable data inputs.
Q: What aspect of Band v3's Oracle service is emphasized for wider adoption?
A: Scalability is a crucial aspect of Band v3, ensuring broader usage and accessibility.
Q: How does Band v3 ensure the reliability of data feeds in decentralized applications?
A: Band v3 enhances data accuracy, ensuring reliable data inputs for decentralized applications.
Highlights
Time: 00:15:42
Band v3's Cross-Chain Decentralized Oracle Service Discussion on Band v3's focus on providing a secure and scalable Oracle service.
Time: 00:25:16
Enhancing Data Accuracy with Band v3 Exploring how Band v3 enhances data accuracy and reliability for decentralized applications.
Time: 00:35:50
Scalability in Band v3 Oracle Service Importance of scalability for wider adoption of Band v3's Oracle service.
Time: 00:45:21
Securing External Data Feeds with Band v3 Insights on Band v3's role in securing reliable data inputs for smart contracts.
Time: 00:55:09
Real-World Integration by Band v3 How Band v3 bridges real-world data seamlessly with blockchain technology.
Time: 01:05:37
Decentralized Oracles' Impact on Blockchain Development Exploring the importance of decentralized Oracles like Band v3 in blockchain operations.
Time: 01:15:48
Improving Security Measures with Band v3 Discussing Band v3's contribution to enhancing security within decentralized applications.
Time: 01:25:30
Band v3 and Smart Contract Functionalities The impact of Band v3 on improving smart contract operations and data reliability.
Time: 01:35:19
Reliable Data Feeds for Decentralized Apps The discussion on Band v3 ensuring reliable data inputs for decentralized applications.
Time: 01:45:55
Emphasizing Decentralized Oracle Importance Highlighting the significance of decentralized Oracles in blockchain development.
Key Takeaways
- Band v3 focuses on providing a secure and scalable cross-chain decentralized Oracle service.
- The platform connects smart contracts to external data and APIs effectively.
- Band v3 enhances data accuracy and reliability for various decentralized applications.
- Cross-chain compatibility is a key feature of Band v3's Oracle service.
- The importance of secure and reliable data feeds in the blockchain ecosystem is highlighted.
- The chat explores the impact of Band v3 on enhancing smart contract functionalities.
- Band v3's role in improving the overall security and scalability of decentralized applications is discussed.
- The platform contributes to bridging real-world data with blockchain technology seamlessly.
- Scalability is a crucial aspect of Band v3's Oracle service for wider adoption.
- The Fireside Chat emphasizes the need for decentralized Oracles in blockchain development.
Behind the Mic
Introduction and Welcome
Hello. Just checking if everyone can hear me. Leave a thumbs up. Can you guys hear me? Yes. Yes. All right, that's great. I can hear both of you, by the way. I'll just give a few minutes for people to join and then we'll get started. All right, let's get started, I guess so. Hi, everyone. Welcome to the band v three fireside chat. I'm Ben, the business dev of Ban Protocol, where I focus on ban Oracle solution across various blockchain ecosystems. With me today are two people who've been instrumental in shaping band protocol since day one. Paul, our chief product officer and co founder, and SWit, our CTO and co founder. We're super excited to dive into what bandv three is all about, the inspiration behind the design, what makes it different from v two, and where we're headed in the future. So let's get started.
Discussion on BandV Three
All right. Happy to be here. And finally, it's about time we get to talk about the v three. It's been a long time coming. Yeah. Hi, everyone. So I'm excited to be here and share about band v three. Cool. Cool guys. Happy to have you guys here. So, Paul, let's kick things off. Can you tell us the story behind bandv three, why now and what led to this version? Sure thing. So we've been building decentralized Oracle since we started ban actually in 2018. And here's the thing. No matter how fast or cheap blockchains get, they still need external data to function. Blockchain are essentially isolated system and they are great for executing smart contracts, but they don't have any native way to accept real world information like token prices or spot resolved. And as we all know, like application like DeFi, token price data is extremely crucial.
The Need for External Data and BandV's Role
It is needed by virtually almost every protocol out there. And while I think in the bandwidth, we have done an excellent job at providing those data in terms of security and make them available widely. It's been a little bit complex in terms of integrating the price data on the v two, and that's primarily coming from the v two design. So with the V two design, developers had to write custom Oracle script, which could take a lot of time in terms of engineering effort. From the user perspective, it can cost quite a bit, which comes from the time associated. And that's why we started digging and designing the band V three, which is essentially an Oracle solution that focuses specifically on the price data. We make it faster, easier, and essentially free for developers to use.
Goals for BandV Three
So the goal here is to make sure that price data is available across all chains and to make it super accessible for the next wave of blockchain adoptions. That sounds amazing. Free and always available priced data. That's a game changer. I'm sure every team building defi projects would love to hear that. So let's talk more about what makes BandV three different on a technical level. So, swit, can you give us a bit of a deep dive into how BandV three is designed, especially for the more tech savvy audience? Yeah, definitely. So I'll try not to go too deep into the technical details, but I highlight the main changes from v two to v three. So as an oracle, we essentially do two main things. We get the price data from off chain to on chain, in this case ban chain, and verify that the data is correct and not easy to make, like bad data.
Technical Improvements in BandV Three
And the other part is, we relay the data once it is on ban chain to other blockchains. So the end users of our protocol, which is like the app developers, can use it. So we make an improvement on both parts. So let's start with the first part where we get the data from off chain to ban chain. So in BanDV two, as Paul mentioned, every oracle request will need to be initiated by the Dapp developers manually. And this is fine for cases where you know exactly the interval that you need data, right? For example, if you are building DeFi application, you need bitcoin price, ethereum price every hour. You can do so using BanDV two very easily, but it's not ideal for continuous and time sensitive applications.
Enhancements for Continuous Data Retrieval
Like for example, if you're building a decentralized exchanges, for example, and you want liquidation like every second, then it's hard to do. So in BanDV three, we have removed the need for user to submit the data request manually, and instead we build a new system. We call it the concurrent price streams. And with this system, like validators now autonomously pull price data from external sources like exchanges, price aggregators, or their proprietary data sources, and then they submit the data to banshee at some predefined intervals. And this interval will typically be like every few seconds for like high demand symbols, like bitcoin Ethereum, but it will be longer interval for symbols that are not very popular.
Data Submission and Reference Price Data
And this will involve tokenomics. I think we will discuss after this, but yeah, essentially with this new design, we can have up to 1000 symbols of concurrent price data on ban chain. So after the data is submitted, it goes to the aggregation process on Banchen to create reference price data. And this is the median across like 100 validators. So the data is very hard to corrupt, right? You need to corrupt more than 50% of the voting power. And Banchen has been around for many years, and there's no evidence that this can happen easily. We have also engineered the Banchen block time down to 1 second. So that means we get the new data coming from validators updating every second.
Summary and Improvements on Data Handling
So in summary, from, you know, this like, getting data part like instead of V two, where users need to request data manually. Now validators handle everything autonomously. So as a user, you can just come to Banchan, you know, see data and then use the data. So now on the second part where, you know, once the data is on Banchen, you need to relay the data to destination blockchain. We built a new module called data tunnel. Anyone can send a transaction to Banchen to create a new data tunnel specifying the symbols, the interval, the price deviation, as well as the specification of the place to deliver the data, like the chain ID and the smart contract address. And once the tunnel is set up, data will be delivered automatically.
Transition and Integration with Third-party Protocols
This is different from V two, where we built the relaying tech ourselves. Now we are integrating with existing interoperability protocol, like Acela layer Zero Hyperlink, and we use this third party protocol as a bridge to connect ban chain to other blockchains. More importantly, in addition to leveraging third party providers, we also provide the native threshold signature scheme validation to ensure that data remains tamper proof during the transition. And to our knowledge, we are one of the first teams to get the TSS production ready. And from our testing, it results in over ten x improvement in gas efficiency over the previous security module that we use, the Multisig module.
Improvement for Dapp Developers
So the whole system ensures the best possible experience for Dapp developers, because now they can pick the third party provider that best suited the needs. And because now we involve multiple, like interoperability providers, the system become more decentralized. As, you know, if one goes down, you can just switch over to the other provider, so making sure that there's no single point of failure. So the bottom line is now with the band V three, we engineer it so that it is much more developer friendly. Right now, you don't need to request data manually, you can just go to band chain and then use the feed that is updating every second. You can create a data tunnel and leveraging existing interoperability provider and deliver data to destination blockchain. And it will be easier, a lot easier for developers to get a new price feed up and running, so developers can focus on building the applications, rather than spend a lot of time integrating all the posts.
Feedback on Improvements
Nice. That's a massive improvement. You really made things easier for developers, and I'm sure a lot of them will appreciate how simple you've made the process. Now, Paul, let's talk about the tokenomics. What's new here in V three? Absolutely. So the tokenomic for the band V three, we have been thinking through a lot, and it's been redesigned to better align with our goal, which is to make the high quality price feed available throughout the blockchain ecosystem. At the same time, we want to make sure as well that the utility of ban token is enhanced, right? So let's address the first thing first, which is the transition from the V two to the V three. And what's the differences, right?
Transition from V Two to V Three
In the V two, user had to pay ban token to request data, right? And that's one of the main utilities of ban in the V two, and that was fine. But we realized that for price feed, which is quite frequently updated and much needed, nonetheless it is not extremely practical and this model wasn't ideal. Imagine you have 100 different apps and each app needs to request data for 100 different symbols, and those becomes messy quite quickly in terms of the chain, capacity and all. And it added unnecessary costs and friction for developers who needed those price data, and they want to go to market fast and try to launch protocol faster to cash market trends. So in the band v three, we have done the rethinking on the design. So now the price feed are automatically updated, like sweet mentioned, right, by validators.
New Price Feed Mechanism
And there's no need anymore for developers to pay for each data request. So instead, developers, sorry, they validators, they gather data from sources and submit to bench in continuously. And that will ensure that the latest price data is always available. And this, like I said, makes price feed essentially free to exit for developers. But that's a big question coming with this change, with this new mechanism, which is how do we decide which token gets updated and how frequently? Like Sridh said in a technical portion, that's where the signaling hub comes in. So rather than paying per data request, ban token now has a new utility which is to be used as a voting token, right? So with band b three, if you stay banned, you can now nominate for tokens to be included in the price fee by delegating the band that you stake to a specific symbol, right?
Vote and Influence via Tokenomics
So the more staker that word for a token symbol, the more frequently its price is updated. So if you are, imagine you are a new token project entering the market and you want to have your symbol being added to ban price fee, you either need to stake ban yourself, so acquiring the band yourself and stake it and nominate for your token, or working and collaborating with existing stakers, the bank community to get your token symbol on the price stream. And with this new mechanism, it essentially creates tokenomic models that's driven by demand not only from the data users, but also from the crypto projects wanting to be included on the price sheet. And this is extremely similar to have we what we have seen with the curve war.
Competition for Inclusion
So project that needs that token included on the band price feed has to compete for the staking power. And the higher the demand for the token price data, the higher demand for staking ban becomes. And this eventually creates a self sustaining tokenomic models where the utility of band grows in proportion to the adoption of band's oracle. And I know that what we have said, what I have said so far is quite mouthful. So let me summarize for you quickly. So in summary, tokenomics wise developer no longer need to pay per request on the price data, which reduces friction and cost of onboarding into ban oracle.
Reduction in Friction
Ban token is now used in the signaling hub where staker can vote on which token get included in the price feed. And lastly, the more widely banned oracle is adopted, the higher the demand for band staking become as token projects and developers need to get that spot on the feed. And this system basically benefits everyone, right? Developer gets cheaper, more accessible price feed, ban token holder sees more demand for staking, which drives up demands for token spend, right? And the bank ecosystem itself becomes more decentralized as stakers have direct influence over which token are included and how they are being used and added to the ban price itself.
Concerns about Existing Utility
That sounds great, but a question that will be on everyone's mind is what will happen to the existing utility of the ban token? Is it going to be abandoned completely? What happens to it? But that's a fair point, fair question to ask, I would say. Don't worry, we have kept all the previous utilities of ban token as well. So in addition to the price feed which we added, which we are adding in the band v three, the ban token itself will be used as gas token to be used in the operation of the custom Oracle script, which you cannot access any API on the Internet using the same technology we have in the band V through or the VRF, the verifiable random function that we now feature for multiple gamefights protocol.
Enhanced Tokenomics
Those are still relying on the ban token as a gas token on ban chain itself so we have pretty much enhanced the tokenomics for Banshee and by introducing the news price feed mechanism in the band v three. But the broader functionality of ban token remains the same. And overall, I think this model create a much more scalable and efficient ecosystem. And all in all, it essentially position ban much easier in the upcoming wave of adoption. That's a great design.
Future of BanDV Three
Developers get cheaper, faster access to oracles, and band holders get more utility from staking win. So all of this sounds incredible, but when can we expect to see BanDV three live on Mainnet? Swit? Can you give us the roadmap? Yeah, definitely. So we are developing band V three on the latest horsmot SDK version 0.50, which is very new. I think only Gaia have it on Mainnet and we aim to have the core module implementation complete by Q four this year. So by the end of this year. And that will be followed by rigorous internal testing with devnet testing integration, and also public testnet stretch testing with all the validators.
Internal Testing and Readiness
Internally, we are very serious with testing, as the Oracle cannot fail. You have seen other chains, if the chain stops, it's no big deal. They can just pause it for a while and get it back up. But for Oracle is extremely important as the security of the underlying applications of the customers rely on the Oracle. So we don't want it to fail ever. And we have a good track record so far. Alongside, we are also working hard to connect with our data tunnels partners, which is all the major interoperability protocols.
Progress and Future Plans
We have made a lot of progress with hyperlink and router protocol and also in the talk with other protocols as well. And beyond the technical work, we are also improving the onboarding experience for all the developers. So we are excited to get the bandv three live to everyone soon, and we expect all the tests to be done and the mannet to be ready early next year. That's awesome. And I know I'm not the only one looking forward to seeing this in action.
Ambassador Program and Community Engagement
So before we wrap up, I want to mention that we've got an exciting ambassador program for those of you who want to get involved with band protocol. Whether you're a developer, a community builder, or just a fan of decentralization, we'd love to have you on board. So now let's open it up to some questions from the audience. Feel free to request to speak or drop your questions in the comments. We'd love to hear what's on your mind. So guys, I'll just let you have some time to write some questions, comment them or request to speak.
Engagement and Q&A
Get back to you guys with the answers. Let's hear it. Thank you very much, guys.
Introduction to the Q&A Session
Okay, guys, we're seeing quite a few questions come through our channel, so let's give us a few minutes to get those collected and we'll ask them here live so you guys can hear the answers from Paul and sweat as well. Okay, I think we have one request. Go ahead and turn on your mic so you can ask the question. Thank you very much. You know, my concern right now as a ban token folder is we need to make sure everyone understands the importance of ban and oracles. But when we have chainlink behind us on our heels, we need to fight back. I'm telling everyone who's a band soldier, you need to get up on your horses and charge at the enemy because chain link ain't going nowhere without band going and jumping over chain link. And we got to take a pole axe and smash them. Thank you.
Engagement from Participants
Hi. Hi, man. Thanks for that. What was the question again? How do we smash them? Okay, got it. How do we smash them? Paul. First of all, thank you so much for the question. And I love, love the enthusiasm. So me personally, I don't look at this situation as like a war or, you know, something that we need to actively go against our enemy. So rather than looking at it from that point of view, well, we definitely have to look at things as like blockchain as a whole. Right. Like we are in a situation where right now there's not a lot of interest, there has been a lot of doubt, there has been a lot of questions from the public in terms of utilities and all.
Challenges in the Blockchain Industry
So the problem we have as an industry is not like whether ban is better than shilling or shilling better than ban is not even. That question is how do we collectively build tools, applications, education platform and make sure that crypto is getting utilized and have value in the real world. So the risk right now I don't think is like trying to defend that ban is better or like how do we go against competitors like share links or the other oracles out there, but rather what we focus on internally is how do we create tools and educational materials that can better educate potential users and bring more utilities that can enhance blockchain industry as a whole.
Focus on Internal Development
So to answer your question, I actually don't have the answer to your specific question because I don't think that's the focus of what we do at ban at all. Yeah, I just want to add very quickly, I think we don't think of it as we are fighting the enemy. I think for a crypto project to survive, I think it just needs to innovate and I think that's exactly what we are trying to do. We are trying to iterate on the Oracle design. I think the new design of BanDv three is very unique and innovative. I think it's very different from other Oracle designs out there in the space right now. With the way data is updated with the new tokenomics, I think we are in a good position to make sure that band as project we have a place to stay in the blockchain as the adoption comes and we also trying to play well integrating with other existing protocols as well, so we grow together with them.
Response to Community Concerns
Yeah, thank you very much for the question, Jamie. I hope the answers were kind of answered your point. I guess so. We have a few more question request. I think I'm going to approve one of these guys. So yeah man, feel free to turn on your microphone and ask a question. All right. Hi Paul and Suet. I have gone through the new white people in blog post and I must say that I'm super excited for what's to come. But more than that, I feel confident in the future of band. A big shout out to all the engineers and everyone involved in bringing this to life. Truly billion mines and impressive price of engineering. As for the AMA in bandwidth, actually I have three questions, but let's go one by one.
Addressing Inflation Concerns
Okay, so in bandwidth, the ban token will be more. We have more utilities, right? Which is fantastic as it creates more demands for the token. However, I'm curious to know if there are any plans to address the issues of inflation or if this is a big tackle in retry, considering it has been a significant concern raised by the community for some time. That's a great question. Let me take that one right. For us, inflation is an important part of most blockchain ecosystem, including us. And in fact, it's not only the crypto, right? You look at any economic system, inflation is always there. But specifically in crypto. Especially in crypto, inflation is used as a tool to create positive economic activities like rewarding stakers or making the network secure.
Importance of Staking
So for ban, inflation helps keep network decentralized by rewarding multiple operators, the 70 plus validators that we have right now, and make sure with that distribution, ban chain is always available, always tamper proof and is secure by design. So the inflation itself is not something that we are looking to eliminate per se. But that being said, I do totally understand why the community is concerned. If you are just holding bandaid inflation could dilute the value of your token over time. But here's the thing, right? Like staking, your bank can easily offset this. So by staking, you earn the block reward and you also actively securing the network. So by staking is win situation where you don't get diluted by the inflation and at the same time, you know, be like making sure that we're like secure.
Future Considerations
Now with that said, again, the problem still comes, like if you have or if you are a passive holder of ban, which, you know, in some cases, like I do totally understand, like we cannot convert everyone to become an active participant in the network, right? Much like Ethereum also struggled with that for some time, but now it's getting much better. There's no absolute way to prevent the effect of inflation to affect those who are passive orders. But we definitely looking for a solution down the line, down the road to mitigate those efforts. But not now. We think that inflation right now is quite healthy and is quite essential for the security of the network. And we encourage everyone, every active, positive participant in ban network to just take that band and participate in the signaling hub activities when the band v three goes live.
Innovation in Staking Mechanisms
Yeah, and I'd like to add very quickly that we recently, I think last month or this month, we also released liquid staking in collaboration with Stride. So you can always stake ban directly using Cosmoscan or sending a transaction. But if you are also worried about illusion but not comfortable staking, you can also acquire St band directly and that token will basically liquid stake the band built in, right? So you can exceed any time and you can enjoy staking reward also. Nice guys. Thank you very much for the answers. Max. I hope your questions were answered. I know you had a few more, but we have quite a few requests to ask, so I think we're going to move on.
Engaging with the Community
So everyone gets a chance to answer the questions as well. So I think the next one was from Leon. Man. Leon, feel free to turn on your microphone. Thank you. Hey guys, thanks for having me, Ama. First and foremost, I had some questions that come to mind, and I agree with Paul and sweet regarding the inflation, that first and foremost, I think most of the crypto projects that are quite familiar, like osmosis and Adam, you name it, are all inflatable.
Addressing Inflation and Utility
Inflation can only be helped out if the token itself has utility. Then we can probably implement some sort of burning mechanism. So I think feed three moving forward is a great step in that direction. Question that comes to mind for me is, will there be any focus from us as an organ solution into real world assets or insurance. Like crypto symbols are now like the low hanging fruit. But thinking like moving forward, will there be any focus on that direction or is it mostly crypto symbols for now, as an oracle provider?
Regulatory Challenges and Real-World Assets
That's a great question, Leon. We have actually in fact been, you know, worked like one of the first who work with insurance company or at least insurance protocol in the early days. A problem with like real world asset and those other use cases is that it relies heavily on regulations in the real world. And the technical progress we feel has been like fast, like certainly we have proof of concept that actually works and it's relatively easy and simple to set up with the bandwidth who infrastructure as well. But the reason why we haven't seen major progress in those front there comes from the lack of regulations and those segments moves extremely slow. Now, we have heard a lot about real world asset deeping and more of the products or projects working in those areas.
Adoption of On-Chain Technology
We are actively looking, as far as we know, the barrier for those segments to be adopted and be used on chain is still under regulation, which the technology that we have on the v two is actually extremely suitable for those use cases, much more so than the price feed. And that's why like you said, price feed is the most use case of oracle on chain right now. We made v three to answer that low hanging fruit, but our eyes, we still keep it on more use cases like real world asset like spot betting or spot prediction, real world prediction and all sorts of application that's going to be brought on chain once regulations allows them to do so.
The Role of AI in Future Developments
Yeah, AI is definitely a hot topic right now and we have been actually following it closely, especially with the rise of the autonomous agent. So me and Sridh, we have been tinkering and building multiple sort of pit project or you can say side project that allow us to experiment with like, you know, what AI can do. And what's the latest trend right now? We have like hundred, you know, a few hundred stars on GitHub on those repositories as well. You can, you guys can check out and you know, so far, like the most major trend that we can see that is, you know, upcoming from the latest development of last language model is autonomous agent, right?
Autonomous Agents and Blockchain Interaction
Like those agents can interact with the world and Internet and can potentially access on chain data, send transaction on chain. So we think that is going to be like a major development that is coming in the next two to five years. And what we believe is that it will become inevitable that those agent will be able to interact with on chain smart contract as if they are human being. So question now becomes, how do we trust AI Asian not to act maliciously or like prevent them from getting hacked, right? And I think this is where Ben can come in and play a crucial role.
Trust and Data Integrity in AI Applications
So any AI, like making decision and transfer any money or interact with any smart contract on chain, they need to have some criteria, right? Some. Or they need to rely on trusted and accurate data in order to make sure that they are safe. And without it, you can't guarantee the integrity of AI's action. And that is where we excel. So what ban does is we bring information that is available online, we verify it, we make sure there's stem of approval and validity of those data. And when the AI comes on chain, they're going to be needing those data and they're going to be needing us to be providing those data to them.
Towards AI Integration in Blockchain
So in the background, beyond the work of V three, like I said, we have been actively researching, tinkering and encoding on the AI front, and we are keeping up with the demand once the AI comes on chain, that is for sure. This is on our radar. Okay. I think, Lucas, you can kind of respond if you want and follow up. Yeah, thank you very much, Paul, for that wonderful response. Okay, I have one more question.
Onboarding Developers for Band Ecosystem Growth
I know you already mentioned about the band ambassadorship program upcoming, so. But I would also like to know if there are, in addition to that, if there are any initiatives to onboard more developers to contribute to the growth and the expansion of the band ecosystem. Yeah, yeah. Like we are a tech company and we are keen to have more developers. So there are a few parts, right? So first part for the core team, we are always looking out for the best talent in the field.
Core Team Development and Grant Initiatives
So the past year we have gone through like more than, I think, more than 100 of resumes and have like close to 100 interviews. But the standards are very high for what we are building. So we only hired just a few folks, but we are always hiring and always trying to find a good skill developer who are passionate about the tech and the blockchain space. So that's on the core team. But for the developer ecosystem, we have started the grant program and we have already funded a few projects such as a project that using AI for price anomaly detection and enhancing the block explorer.
Expanding Band Ecosystem through Collaboration
And another project I think building the trustless the bridge on top of bandv two as well. And recently I think one very interesting project that have been proposed and actually in the process of building is building a proof of concept for zero knowledge proof verified of TL's like HTTPs data using serial knowledge proof. And I think that's very interesting and I think that's like if it kicks off, it's something that can benefit ban ecosystem a lot. After the grant program kick started, I think a lot of good projects have been applying and I think it benefits the band ecosystem as a whole.
Opportunities for Developers in the Band Team
And apart from that, we are also having the band Jedi ambassador program visit another way for developers to get involved. So yeah, like, you know, if developers want to apply and help evangelize band as a product, that is an opportunity. That is an opportunity as well. So yeah, those are all the plans that we have to offer new developers. Thanks for the answer. Sweet. And yeah, thank you Lucas, for the question as well.
Closing Remarks on Band’s Updates and Future
I think this is just about all that we have time for. So I want to say firstly, thanks a lot, suit and Paul for coming to share the updates for BanDV three. I'm sure our community and everyone is super excited for what's to come. I just wanted to say short, quick one from our team because as a member I've seen what's going on and I can assure you from the bottom of my heart, it doesn't matter if we're bullish or it doesn't matter if we're bearish. We're always grinding. That's the ethos of the band team.
Commitment to Continuous Improvement
We're always working hard. We're really super excited to bring this v three upgrade to you guys so you guys can see all the hard work behind the scenes that we've been putting in day to day. So guys, stay tuned for it and I hope it's going to be a big one. And thank you very much for joining for your time and see you on the next one. Guys, let's go. All right, thank you everyone. Thanks everyone for.
