Bancor – A Crypto For Token Exchanger

Bancor network provide for exchange of ethereum smart contract let see what bancor have to offer.

Link to official website Bancor protocol

The Bancor protocol enables built-in price discovery and a liquidity mechanism for tokens on smart contract blockchains. These “smart tokens” hold one or more other tokens in reserve and enable any party to instantly purchase or liquidate the smart token in exchange for any of its reserve tokens, directly through the smart token’s contract, at a continuously calculated price, according to a formula which balances buy and sell volumes.

Continuous Liquidity

Smart tokens can be purchased or liquidated by anyone anytime, through their smart contract.

Backward Compatible
Bancor enables liquidity and asynchronous price discovery for any existing ERC20 standard token.

No Spread
Prices are calculated by the smart token so buys and sells use the same current price.

No Counterparty Risk
No need to deposit in an exchange in order to convert between smart tokens.

Lower Volatility
Reserves endow smart tokens with significant market depth, resulting in reduced price volatility.

Predictable Price Slippage
Price slippage is pre-calculated relative to transaction size and incorporated into current price.

The BANCOR network token will hold a single reserve in Ether. Other smart tokens, by using BANCOR as (one of) their reserve(s), connect to the BANCOR network.

The BANCOR network token forms a monetary structure where increased demand for any of the network’s smart tokens drives up the value of the common BANCOR token, benefiting all other smart tokens holding it in reserve.

Bancor smart tokens are implemented using smart contracts, initially deployed on the Ethereum network.

Smart tokens are compatible with ERC20 and EIP228. The protocol will evolve to include additional standards to allow more flexibility, cross-blockchain compatibility and increased security for smart tokens.

Screenshot_2017-06-23-09-42-47.png-Bancor - A Crypto For Token Exchanger

This project is a big one and can feel it bright future from here

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