Binance Learn & Earn BAND Quiz Answers
Binance Learn & Earn BAND Quiz, Binance Learn & Earn BAND Quiz Answers – Hi Coolz Readers!! Hope you are reading our daily posting of amazon quiz answers & amazon funzone stars quiz answers. In between, Binance the popular crypto platform of the world has announced another learn & earn BAND quiz program for all users.
There will be 3 Quizzes (BAND, UMA, BTTC) on 04th August 2022 in Binance learn & earn. we have already posted the Binance learn & earn UMA quiz answers & Binance Learn & Earn BTTC Quiz answers. Here is all details about Binance BAND Quiz & we have updated all correct answers of Binance BAND Quiz.
We have already posted each & all Binance Learn & earn quiz answers in 1 post. must check out that one too.
Meanwhile , Binance has announced next chapter of “Binance Learn & Earn BAND quiz“, where users can gain knowledge about BAND coin and earn up to $10 in crypto by completing course and quiz of BAND.
Band Protocol (BAND) is a decentralized data oracle platform focused on speedy, cross-chain requests for off-chain data.
Binance Learn & Earn BAND Quiz
| Binance Learn & Earn BAND Quiz | Details |
|---|---|
| Quiz about : | BAND Token |
| Quiz Date : | 04th August 2022 |
| Quiz Time : | 2022-08-04 07:00 (UTC) |
| Number of Questions : | 08 |
| Number of winners : | 1st come 1st serve |
How to Participate in Binance Learn & Earn BAND Quiz
- First of all update your Binance app from Playstore to latest version of visit this Binance Learn & earn quiz webpage directly
- New Users of Binance can create new account from here
- Login into your Binance account
- Go to homepage & you will see this learn & earn BAND quiz banner
- Click on that
- New chapter of learn & earn BAND quiz will live from 12.30 PM IST
- start the quiz at same time & solve using below already solved Binance BAND Quiz answers
Binance Learn & Earn BAND Quiz Answers
Question 1: All of these concepts are related to Band Token EXCEPT for…
Answer is : Cash incentives
Question 2: Which sentence is INCORRECT?
Answer is : Band Protocol leverages on-chain centralized oracles that link on-chain applications together.
Question 3: Which characteristics differentiate Band Protocol from other oracle services??
Answer is : Decentralization, maximum customization and flexibility, easy scalability, economical cost, interoperability, and cross-chain
Question 4: Which ecosystem(s) has/have partnered with Band Protocol?
Answer is : All are correct
Question 5: Which of the following IS NOT a use case of the BAND token?
Answer is : To secure a discount when requesting data
Question 6: Which sentence is CORRECT?
Answer is : BandChain’s Delegated Proof of Stake design and BAND token create a decentralized network.
Question 7: What network is BandChain on?
Answer is : Cosmos
Question 8: Which characteristic DOES NOT correctly describe BAND Protocol?
Answer is : On-chain DeFi protocol
Questions will be in different order in your accounts.
If anything change in this question , we will update correct questions on Our Telegram channel
Details About BAND Tokens (Useful in Binance BAND Quiz)
Band Protocol (BAND) is a cross-chain data oracle platform that aggregates real-world data and connects it to APIs and smart contracts. Founded in 2017, Band Protocol enables information exchange between on-chain and off-chain data sources for DApps. Originally built on the Ethereum (ETH) blockchain, the protocol transitioned to the Cosmos network in June 2020 to lower gas fees and optimize costs.
As an oracle network, Band Protocol is a middleman between real-world, off-chain data and blockchains. Their service allows smart contracts to execute based on actual off-chain events and information. Without reliable oracles, DApps struggle to operate in a trusted, decentralized manner with transparent information sources.
How BAND Token works?
Band protocol uses the independent BandChain blockchain built using Cosmos SDK. Developers can use BandChain to develop customizable oracle scripts providing off-chain real data for DApps and smart contracts. Customizable oracle scripts include data, the data source, the number of validators required to report the data, and the methodology for aggregating the data.
Executing an oracle script begins the following flow:
- A DApp requests data according to its customized oracle script.
- This request is received by a randomized set of validators, who respond by pulling data from the specified data source.
- Data reports from the different validators are aggregated according to the customized oracle scripts.
- This final aggregated data is permanently stored on BandChain, and an oracle data proof is produced.
- The validated oracle data is transferred to the DApps or blockchains that made the request.
Terms and Conditions Of Binance BAND Quiz :
- Illegally bulk registered accounts and sub-accounts shall not be eligible to participate or receive any rewards.
- Rewards are limited and are available on a first-come, first-served basis. Users can only claim the reward for each course after completing the respective quiz.
- There will be caps imposed on the amount of rewards available to eligible users per country/region.
- Eligible users may complete multiple quizzes to claim multiple rewards.
- The actual value of the reward received is subject to change due to market fluctuation.
- Rewards will be distributed within 48 hours to qualified learners who pass the quiz. Users may check their rewards via Account > Reward Center.
- Binance reserves the right to terminate the activity at any time without prior notice.
- Binance accounts can only be used by the account registrants. Binance reserves the right to suspend, freeze or cancel the use of Binance accounts by persons other than account registrants.
- Binance reserves the right of final interpretation of the activity. Binance reserves the right to change or modify these terms at its discretion at any time.
- Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.
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