Cryptopedia - Band

## What Is Band (BAND)? Band is the data layer that trains AI engines and powers blockchain applications. By empowering DeFi, GameFi, and AI agents, it enables developers, institutions, and users to access real-time data with zero counterparty risk. With Band’s open, battle-tested data infrastructure built for blockchains and LLMs, it ensures that real-time information is always accessible—fueling everything from financial protocols to autonomous AI systems. Band was launched in 2019 on the Ethereum blockchain as a decentralized oracle network, designed to bring real-world data into smart contracts and decentralized applications (dApps). Initially, it addressed a core Web3 challenge: enabling blockchains to access external information securely and reliably. In June 2020, the team released Bandv2, migrating the network from Ethereum to the Cosmos ecosystem. This decision was driven by Ethereum’s scalability limitations at the time and the unique advantages of Cosmos’ Inter-Blockchain Communication (IBC) protocol. With IBC, Band became one of the earliest oracle projects to enable fast, cross-chain, and scalable data transfers—strengthening its position as a foundational layer for decentralized applications across multiple chains. Over the following years, Band expanded its integrations and established itself as a critical data provider for Web3 applications, from decentralized finance (DeFi) to gaming and prediction markets. Its native token, $BAND, has remained central to the ecosystem, powering transaction fees, data requests, validator staking, and governance, while also being actively traded on major exchanges. In 2025, the project underwent a major rebrand, evolving from Band Protocol to simply Band. This transformation came with a bold new vision: to become “The Unified Data Layer for AI & Web3.” Alongside this rebrand, Band introduced two flagship product offerings: Band v3: the next evolution of its decentralized data network, featuring broader data coverage, reduced latency, and expanded developer tools to accelerate dApp innovation. Membit: a new product line that delivers real-time, verifiable context to large language models (LLMs), bridging the worlds of AI and Web3 by fueling the next wave of intelligent applications. This evolution positions Band not only as a cornerstone of decentralized data infrastructure but also as a key enabler of AI-driven advancements, unifying Web3 and AI through trusted, real-time data delivery.