Review on Bancor by Solangel Toro
Bancor Project.
Bancor project is an exchange platform that uses smart contracts on the Ethereum blockchain and cryptocurrency reserves to guarantee liquidity between connected assets at a given price, Bancor seeks to enable liquidity for Ethereum tokens designed for use in Networks and dApps that will initially have little adoption and markets largely allow users to create their own tokens on the platform backed by a connected pool of cryptocurrencies typically ETH when an order is placed on Bancor, the price is algorithmically determined based on current supply and demand of the traded token and reserve currency ratio.
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Pros
- Bancor is a really new project that offers great security to all its users and to the people who want to enter it.
Cons
- Bancor does not support Fiat currencies.
