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Bancor .. a protocol for creating intrinsically tradable cryptographic tokens

2018-09-12 07:47 pm | Resource: Crypto Section | No Views : 426

Bancor .. a protocol for creating intrinsically tradable cryptographic tokens Bancor .. is a decentralized network that allows you to download any token from ethereum and convert it to any other token in the network, without any counterparty, at a calculated price automatically, using a simple web wallet, we are talking today about the latest developments of the project, .

Project name: Bancor
Ticker symbol: BNT
ICO date: June 2017
Market cap: 62 million $
Circulating supply: 53,654,901 BNT
Total supply: 78,324,099 BNT
* As of September 11, 2018. Source: Coinmarketcap

What is the Bancor project?

Bancor is building a network based on Ethereum, to provide decentralized liquidity through the Bancor protocol, which benefits from intelligent contracts to build liquidity directly into the code.
These smart codes, through smart nodes, are easily convertible to other symbols easily. By incorporating an open source equation directly defined in smart contracts, these smart symbols can buy and sell themselves at calculated and predictable prices, thus providing liquidity for bad symbols otherwise.
Banco's ICO raised $ 153 million out of 10,885 buyers in its issue in June 2017. Half of the BNT badges were sold to the public while the other half were allocated for future use.
Bancor Network Tokens is a unique feature to convert smart icons from one to another. Bancor launches on this Token sequence and allows users to purchase this using one token and then use the token sequence to purchase another type of token easily.

Key Features / News

Bancor's Open Source development progress can be tracked at
Bancor updated their blog and reddit with major developments.

Some of the main features of the project

June 2017: The Bancor Network Token (BNT) token starts.
Summer of 2017: Bancor released new bonus programs and more than 10 different Smart Tokens using the Bancor protocol technology
September 2017: Bancor UX, which deals with Bancor smart contracts, launched the Etherreum MainNet
October 2017: Pankor upgraded its smart contracts to new enhancements, and Stox and Gnosis were activated on the Bancor network and broadcast live. More tokens have been added to the Bancor network
December 2017: Partnership with Bancor Seren Labes and FCFL. Bancor Network has raised more than $ 500 million in volume.
January 2018: Bancor announces 28 active numbers on the Bancor network, and updates the electronic document and web application.
February 2018: Bancor announced a total of 42 active codes, a partnership with to merge EOS with the Bancor protocol.
March 2018: 60 BGAN direct numbers were broadcast. Bancor was released in Trust Wallet and Toshi (now Coinbase Wallet).
April 2018: Bancor issued a mobile-friendly version of dApp. On April 23, daily trading volume reached more than $ 17 million and 70 direct online numbers.
June 2018: Bancor launched one of the first liquid local currencies to help local companies in Kenya. LiquidEOS Bancor was chosen as the EOS mass product. Trezor works with Bancor to reduce gas costs by 25%.
July 2018: Bancor suffers from stealing $ 23.5 million from their network, recovering $ 10 million from BNT before it is liquidated.
August 2018: The first community currency transactions occurred on the blockchain in Kenya. LiquidEOS partners with Scatter to create the first EOS portfolio for open source devices. The first security code for Alchemy Coin is listed on the Bancor network.

Bancor Decentralization (dApp)

The network is directly on Maint ethereum. According to the Radar dApp, Bancor is the sixth most popular in terms of number of daily users (314), the second most popular in terms of daily volume (4,222 ether).
BNT Dapp Usage


Bancor platform directly on Ethereum Mainnet and allows users to trade on more than 100 different types of codes. It is one of the most popular dApps on the blockchain.
Unlike decentralization, the project also worked on other initiatives. The team provided a wallet to retain the symbols. Bancor became one of the producers of the EOS block, offering a value exchange on the EOS platform.
On the Transparency and Disclosure Front, the team publishes regular blog posts and monthly updates.
The project bank witnessed a major security breakthrough in July 2018 as the portfolio used to upgrade smart contracts was breached, resulting in a loss of $ 23.5 million. Although the project immediately acknowledged what happened, managed to recover $ 10 million because it could stop smart contracts on the protocol, it also highlighted that the network is not centralized because it may lose or freeze customer funds.

For more information about the project


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