Review on Bancor by Toprak Dere
About Bancor
Bancor Coin is a completely decentralized network that offers its users the chance to instantly exchange the crypto coins they own with the coin they want and without the need for intermediaries. The Bancor protocol offers a system that connects smart contracts to the liquidity network. Thanks to the crypto coins collected in the liquidity network, the conversion of tokens becomes very fast.
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The Bancor Protocol ultimately exists to bring liquidity to most tokens where there is no supply / demand so they can take place in global markets. Bancor makes it easy to buy or liquidate tokens with low transaction volumes while helping them establish a market price.
If the cryptocurrency space moves towards a system with a large number of locally effective tokens, Bancor can become a central base for exchanging these currencies.
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Pros
- Bancor is a blockchain protocol that allows users to directly exchange between different tokens instead of shopping in the cryptocurrency markets.
- Smart Tokens used in the Bancor network can be interpreted as a currency that can be exchanged into other currencies at any time. Bancor offers a different trading method than exchanges because it uses Smart Tokens and smart contracts in trading and does not need 2nd parties.
Cons
- none
