Bancor – a protocol for creating "smart tokens" and cryptocurrencies that can be converted directly without intermediaries through smart contracts. BNT has been issued as part of the Bancor platform.
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Information about the Bancor (BNT)
The main task of the developers - to make a new standard for the currency, such as ERC20. This technology allows smart contracts to connect to the network to support mobility throughout the network. The project uses so-called "plug-ins" that hold the balance of different currencies in the contract. Bancor is considered revolutionary by analysts for its ability to convert, exchange and sell currencies without the consent of the two parties.
These relationships lead to mobility, regardless of stock listings or trading volumes. The platform uses currency preservation and its algorithm allows quick change and conversion of all funds. The exchange's own currency is similar to the one, used by Ethereum, and supports the ERC20 and EIP228 standards.
The platform includes:
- protocol;
- network;
- web applications.
Its own system is able to satisfy any user request. Users can issue their tokens, which are in high demand on exchanges.
Benefits of BNT
One of the key elements of BNT is automatic pricing. This means that token smart contracts always buy or sell currency to any user. The platform continues to evolve. The main advantages:
| Mobility | High level of liquidity. |
| Backward compatibility | High liquidity can be provided by any currency on the ERC-20 standard. |
| Price | The cost is calculated, based on smart tokens. |
| Risk | All operations are carried out within the exchange, which significantly reduces risks. |
| Wallet | The exchange provides its own e-wallets with support for various cryptocurrencies. |
On June 12, 2017, the project team set a new record in this industry, collecting 396 720 ETH at Bancor ICO (a special type of fundraising) in less than three hours.
BNT currency
The BNT cryptocurrency - the currency of this exchange and is also the center of the network. Users can convert absolutely any token on the network to BNT and vice versa. They can use BNT as an intermediary for converting tokens among themselves. Moreover, any user can always receive BNT and convert them to ETH. Despite the fact that it runs on the principles of building Ethereum, there are a number of innovative solutions. The most important of them for users are the principle of maintaining high liquidity, support for smart contracts and the security of transactions. In addition, the exchange offers support for a large number of currencies, a convenient wallet for storing and operating with them. Confidence in the promising future of the site is given by a partnership with Blockchain Capital, one of the most serious investors in the cryptocurrency market.