Bancor (BNT) logo

Bancor (BNT) -
Token Swap

The Bancor Protocol replaces the need of a centralized exchange and makes any ERC-20 token convertible for another. This allows for tokens to be converted without matching two p..

Basic Intro

Name (Ticker)
Bancor (BNT)
Price (USD)
$0.452195505688
Rank
153
Active Supply
62.7 million
Total Supply
62.7 million
Volume (24H)
778509
Marketcap
28.4 million
Fun Name
Token Swap
Categories
Meta Tags
Social Links
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>Graph
One Week Coin Price Graph

Pros

  • Quickly exchange tokens
  • liquidity between tokens

Cons

  • No backing (asset, profits, commodity)
  • Only tokens

Review

The idea behind Bancor is to allow anyone to convert between any two tokens, without any counterparty, with an automatically calculated price. Bancor is built on the Ethereum smart contract platform and gives immediate liquidity to any ERC-20 token without using an exchange, regardless of the number of buyers and sellers or trade volume.

  • No Counterparty Risk
  • The Bancor Protocol
  • Bancor Network Token

As no exchanges are used, there is no counterparty risk. Buying and selling of ERC-20 tokens is done through smart contracts, hence no deposits and no exchanges are needed to make the conversion. No registration is required, and no personal details need to be provided, as the conversion is done directly from your web3 wallet.

The Bancor Protocol is a standard for cryptocurrencies built on the Ethereum blockchain, which the Bancor team calls ‘Smart Tokens’. This system for ERC-tokens to be autonomously and continuously convertible to other tokens in the network at algorithmically calculated rates. The protocol utilizes “connector” modules, which hold balances of other ERC20 tokens within a smart contract. The ‘Bancor Formula’ then constantly recalculates the prices to maintain a balance between Smart Tokens and their connectors.

The Bancor Network Token was launched on June 17th after an ICO was held on the Ethereum blockchain. The Bancor Network Token serves as a reserve token so that any token can be converted to and from BNT, at a rate calculated by the Bancor Formula.

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