Review on Bancor by Ana A

Name: Bancor
Item: Bancor
Rating: 4

May 02, 2020

BANCOR

It is the proposal of an international monetary unit that has been used in comparison with the United States dollar. The price of the Bancor value would be established for 30 basic merchandise. The purpose of the proposal was to stabilize the average price of basic goods with that of the value of the international medium of exchanges and accumulation of wealth. And it has its tokens, which are considered as the promoters of equality, since they seek to give meaning to all cryptocurrencies.
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It is in itself a platform to create smart currencies, which can be exchanged for others at the time of their creation, that is, a currency can be exchanged and maintained although those who create them must decide which ones will create and why they will create that currency; I must always remember that it is a market, so there is a need to adapt to demand and needs. It is not a recommended platform for those who start mining and trading, worse if for those who want to understand how the world of crypto works. It has proven to be the most liquid cryptocurrency, in the sense that even by making exchanges, cryptos always remain in circulation.
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Pros

It is a monetary option for saving.
Allows users to create smart coins that can be exchanged for other crypto currencies immediately
have a way to calculate your rates

Cons

Many people do not understand how their platform works, and how the protocol they designed to create and exchange their cryptocurrencies is carried out.
His vision of wanting to "match" certain currencies has lost feasibility and profitability. So it cannot be matched to currencies that do not have the same interest of its users.