Review on Bancor by Olugbenga Ajayi
Bancor brings about great liquidity to any token
Bancor is a cryptocurrency project that works as a decentralized exchange. Bancor was launched in 2016 in Zugh, Switzerland.
Its ICO took place in 2017 and 40 million was sold to raise $153million worth ethereum in just three hours. This is a record breaking sale.
Bancor network is known for introducing a platform that makes Exchange of any token to be possible without any counterparty. It's own token which is BNT is easily convertible to any token or coin with ease.
Another good feature of Bancor network is the crosschain integration with EOS and ethereum. This will make it very easy to trade with all ethereum and eos compatible tokens with great liquidity and less fees. It is also under plan that other blockchain will be integrated in the future.
It should be noted that on Bancor network, flat Currencies are not allowed and KYC is not necessary.
Being a decentralized Exchange, security is guaranteed since servers are spread across different locations, in case one is hacked others retain their contents.
Pros
- All traders on Bancor could enjoy regular airdrops
- Possibility Very fast token conversion across chains
- Very simple to use inbuilt wallet
- Crosschain integration with EOS and ethereum and possiblity of adding more
- There decentralized Exchange delivers automatic decentralized liquidity for any token anytime
- Possiblity of earning passive income
Cons
- There are some problems with regulations
- Does not support flat Currencies
