Review on Bancor by francis fernandez

Name: Bancor
Item: Bancor
Rating: 5

September 08, 2020

Bancor “smart token”

Within the range of options offered by the cryptoactive industry, we find Bancor; a digital platform that is used to create a cryptocurrency called a “smart token”.
Bancor's cryptocurrency or “smart token” can be used to make exchanges or to convert within the network.
What advantages does the smart token offer?
One of the main features of this platform is the use of Ethereum's smart contract technology.
Smart contracts are responsible for the tokens to carry out automatic processes, which influence their behavior.
In this sense, the algorithm infrastructure of smart contracts establishes an equitable price, taking as a reference the purchase and sale operations that are constantly carried out; continually recalculating each value; allowing small-scale tokens to be liquidated at any time and are not at a disadvantage compared to other more popular tokens.
This Bancor technology leaves behind the function of exchanges of having to trade an operation to generate liquidity; since smart contracts maintain the balance of tokens known as "reserves"; who are responsible for generating liquidity to the ecosystem.
Bancor by inheriting the characteristics of Ethereum, it is a token that cannot be mined. This can be obtained through different digital exchanges, such as: Bancor Network, HitBTC, Bittrex and Binance.
The most important aspects of the Bancor platform are summarized in:
* Ability to generate liquidity; since the tokens can be exchanged at any time.
* Automatic calculation of the smart token price; due to the algorithm used in the protocol of your contract.
* Compatibility with any software; thanks to the integration of smart tokens with standard ERC-20 tokens.
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Pros

Does not require the collection of extra commissions; only the fees applied by the blockchain.
It is compatible with any software.
They are constant generators of liquidity thanks to their integration with reserve tokens.

Cons