BANCOR NetworkVISIT NOW
A hierachical monetary system
Smart contract blockchain
Guy Benartzi - Foundation Counsel
Eyal Hertzog - Foundation Counsel
Yehuda Levi - CTO
Galia Benartzi - Business Development
Ilana Pinchas - VP Engineering
Or Bachar - Core Developer
BANCOR network is a cryptocurrency based protocol which is created to manage smart tokens that are the tokens which are built on smart contract blockchains like Ethereum. It aims that these tokens are more practical and usable. It offers continuous liquidity, lower volatility, no counterparty risks and much more. It has BNT as its cryptocurrency. The team has dedicated members and overall team evaluation is positive. The website is great and has a good easy to use user interface.
User ReviewWrite review 4 reviews
A protocol for maximizing the efficiency and usability of tokens on smart contract blockchains is the goal of the project which I personally think is great and there would be hype about this projects and it would definitely gain large userbase. The team also has greatly executed the project and overall I think, it is a great project to invest in.
the bankor network is a cryptocurrency based protocol for creating cryptographic tokens which are tradable
this token Bancor Network token.
there is no need in depositing an exchange in order to convert between smart tokens.
BNT offers reduced price volatility
slippage in price is pre-calculated relative to transaction size and incorporated into current price.
Prices are calculated by the smart token so buys and sells use the same current price
Smart tokens are only compatible with ERC20 and EIP228
Bancor aims at creating so called “Smart tokens” which are issued when somebody purchases them or liquidated when somebody liquidates them for reserve tokens. The uniqueness of smart tokens is that they have reserves of other tokens. By the way, the developers want to concentrate on the word “reserves” and not “smart tokens backed by other tokens”, because they see that smart tokens can create its own value to its holders which is not associated with reserved token. So, smart tokens have a balance of reserve tokens.
Team consists of Israel-based blockchain developers who got into space quite a while ago.
Eyal Hertzog is a leader of the project. He is a venture-backed technology entrepreneur for over 20 years.
The disadvantages Bancor, so far I have not found the disadvantages of bancor
This project seems to be one of the most interesting ones which start their ICOs in May.
The Bancor protocol solves the problems of low liquidity and price inefficiencies of digital assets exchanges like Poloniex, Kraken or Bittrex.
total there are 79.3 million tokens BNT, investors are able to buy half, ie 39.6 million tokens. It should be noted that enterprises organizers can at any time freely to increase the number of tokens in circulation BNT. Bancor is also criticized for the fact that during the ICO collected too much money. Almost one hundred and fifty million dollars: speaking impartially, this amount is excessive for the development of a software product.
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