Bancor: the complete investor guideColin Baseman
The Bancor project set a record in just 3 hours of the initial token offering, it attracted investments in the amount of 153 million dollars. This fact is of interest to investors from around the world. What is this cryptocurrency and does it make sense to invest in it?
Bancor cryptocurrency features
Bancor brings a lot to the table; it is a modern blockchain protocol that allows you to convert different tokens without intermediaries. Reserve coins ensure reliable, algorithmic and automatic pricing that does not solely rely on trade volume.
The project aims to turn smart contracts into a legal currency, to form a standard for linking all cryptographic money in a decentralized network. Against the background of such goals, setting a record for attracting investment looks quite logical. In the article "Investing in ICO" you can learn more about who benefits from the initial placement of coins.
Internal cryptocurrency platform Bancor is the BNT token. The issue is almost 75.8 million coins. They are used as a smart token, so there is a different number of coins in circulation. Operations are verified by the Proof-of-Stake algorithm.
It is possible to create and delete Smart tokens at any time, enter and withdraw them from circulation. Therefore, their number always changes taking into account the conversions that are carried out in the Bancor network. The user can exchange any cryptographic coin for the BNT token, besides there are no restrictions on operations in the opposite direction. In other words, the asset is ideally suited to act as an intermediary in the conversion of coins.
The main advantages of Bancor
Important advantages of the cryptographic platform are:
- Backward compatibility. The Bancor system provides the ability to asynchronously set the value of any cryptocurrency (the coin must meet the requirements of ERC-20), while it remains liquid.
- No risks. The user does not need to convert currencies on exchanges and exchange services that are outside the platform.
- Price slippage. The parameter is determined based on the amount of the operation, it is included in the cost.
- No liquidity constraints. Smart tokens can be bought and liquidated using smart contracts by anyone who wants to.
- No spread. Smart tokens are used to determine the value of coins. This approach ensures the same price for cryptocurrency when using different operations.
- Low volatility. The properties and parameters of smart tokens allow to reduce price volatility.
The Bancor platform has enormous potential for development and global promotion. It is easy to use, functional and opens up opportunities for the exchange of some coins for others. It uses a modern algorithm to confirm transactions Proof-of-Stake, and the lack of spread makes the transaction profitable for both investors and traders. Why not try to register in the Bancor system, buy some coins and exchange them?
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