“The DAO was built as a smart contract on the Ethereum blockchain and ran a crowdfunding campaign that attracted approximately $150M worth of Ether. This made it the most successful token sale up until that point.
On June 18th 2016, funds were noticed to be leaving the DAO and around 3.6 million ether worth approximately $70 million were drained by a hacker in just a few hours.”
I found BNT to have potential to have a non speculative use case beyond when the shitcoin bubbles implode as a mechanism for transferring tokenized value. Now I see the limitations of ethereum and EOS as functional backbones for any long term eco system and the market seems to have made other choices with regards to decentralized exchanges. The liquidity pool of the Bancor network is not yet proving a net positive when sacrificing cost and implementation relative to its decentralized nature.
I agree the liquidity pool is unique. I’m just trying to decide whether that unique feature is enough to generate market demand given the security, cost, decentralization, and efficiency limitations of both Ethereum and EOS.
I think the general question in Crypto (and reason for the current bearish market) is wheather or not the ideals of the ethereum foundation can be achieved at all. Personally i strongly believe so, but the one, ultimate project to prove it can hold up to these ideals has not yet made an entrance to the public. In any case, as for the future of Bancor, I am still convinced that the prospect for us investors is a great one, essentially because the protocol (and from it the arising liquidity pool) is a truely great idea for the future of money in general AND because it isn't limited to one blockchain/ledger technology. So i reckon time will present the candidate solving the first question and Bancor can serve as the link between ethereum, EOS, whatever ledgers may hold hopes from now on and the ultimate ledger
You are welcome! Yes that is correct, but can be misleading indeed. Bancor takes no fees, however there is still the gas transaction cost for every transaction made. And being transactions on the Ethereum Network, any failed tx will still consume the gas.
thx. its a collaborative project of the international stock exchange, microsoft and starbucks. almost no technical details released yet, pretty much all hype
these days i often wonder why bancor price isnt where i think it deserves to be, and i think the main reason is that the ethereum project has lost a lot of its thunder. the bancor idea is still great and fortunately works great in any smart contract environment, i think what is lacking so far is
1) the cross over aspect, which the team is tackling heads on, which is great. thus BNT can become the "one coin" we all want it to be.
2) the real world use of crypto in general, which presumably could be tackled by big collaborations like bakkt.
i like that bancor has a fiat bridge already working, but lets face it, it doesn't promote bnt or its network coins to be used in real world transactions. (and its pretty expensive.)
Bancor has higher gas costs as it computes the entire process onchain and with no counter party except a smart contract During times of peak Ethereum congestion this can get more expensive due to rising gas costs and thus smaller transactions may be less efficient.
hey moby, where do you conceive your "general" prognosis from in the first place? i think what we're experiencing in the crypto market right now is the impending death of BTC, as a lot of miners with this premonition sell what they earned - thus the dropping price. ethereum, once seen as THE smart contract compatible heir to BTCs throne, is struggling to scale, while other platforms are being developed. if anything, crypto has never been as multi-faceted as right now. so i think besides the long tail argument BNTs cross-chain-DEX-capability will be the main driver in the coming years.guy is pointing to the bigger picture. i agree with him, but i admittedly think this will take 10 - 20 years to happen.
Bancor’s New Unified Wallet Is Live. The Bancor team announced their new Unified Wallet: https://www.bancor.network/ .The Bancor Wallet user experience is very similar to Coinbase, however, users remain completely in control of their funds, and carry out transactions through smart contracts. Bancor's users now can: - Manage 500+ ERC20 & EOS tokens in one non custodial wallet- Perform conversions between ERC20 and EOS tokens in a single click - Receive a free EOS account and EOS resources to get started - Perform conversions on any mobile or desktop device- Receive any airdropped ERC20 or EOS token directly to your walletNew users can sign up via SMS, Telegram or FB Messenger and easily import their ERC20 and EOS tokens into the wallet.Try out the wallet: https://www.bancor.network/Read more: https://blog.bancor.network/bancors-new-unified-wallet-is-live-enabling-one-click-conversions-between-eos-ethereum-tokens-e249f79dbf98
The utility of BNT — which operates concurrently on multiple blockchains — becomes increasingly crucial as we accelerate towards a world in which value travels across different blockchains, such as Ethereum, EOS and TRON - to name a few.
140+ tokens have now been added to the Bancor Network, creating 10,000+ possible token pairs across EOS & Ethereum! Some of the most popular pairs over the past week are BAT <> ETH, EOS <> PEOS & IQ <> EOS.Which is your favorite token to convert? 🤔https://twitter.com/Bancor/status/1125337827028414466
Please admin I try to convert ethereum to IQ coin but directed me to another page of which ask me to deposit my EOS coins before proceeding with the convertion of the IQ coin, which I did with my 2.5 EOS coins, wort of $10 above , but later unlocked the EOS coins. And a message i read on the page said i will receive my EOS coin back on three working days, but am seeing $0.000496 coins on my EOS wallet. What is the problem, instead of sending me my complete EOS coins they are sending me this👉 $0.000496.
You are welcome. In order to normalize transactions and allow fair queue, Bancor currently requires that all transactions use the same gas price. To implement this, Bancor limits gas prices to match our predefined number exactly. Meaning, if you try to use a higher or lower gas price, your transaction will fail. So, you won't need to set your own gas price. Gas fees may fluctuate according to the level of activity on Ethereum Network, and not due to activity on the Bancor Network itself.
FAKE NEWS: Please be advised that news published by NullTX and TheMerkle stating that KIN is migrating "from Ethereum to Bancor" is NOT correct.What’s really happening?- On June 13th, KIN's ERC20 token will be deactivated on Bancor, rendering KIN tokens held in Bancor Wallets untransferrable and unconvertible. - On June 15th, KIN will complete migration of its token from Ethereum to its own native blockchain. 📌 See this guide to learn how to migrate your ERC20 KIN tokens before June 13th: https://ban.cr/KINmigration📌 See Kin's official announcement regarding the token migration: https://ban.cr/KINannouncementAny questions regarding KIN's token migration should be directed at the Kin Support team: [email protected]
We are aware that many users have been experiencing problems with gas fees when issuing transactions on Ethereum. An official update resolving this bug has now been pushed live.In the meantime, crosschain conversions initiated within the past few hours may experience delays as BancorX undergoes routine maintenance. Thank you for your patience as we work dilligently to resume normal functionality to the Bancor Web App.If any further issues occur, please reach out to Bancor Support: ban.cr/support
Well, besides of being a utility token the BNT has some attractiveness as the base value of the BNT is increasing when the network grows (when there are more BNT held in total) and of course that is dependent on the markets behaviour...The main feature why I hold some BNT is that the base value is in relation to ETH, i believe ETH is already a good holding especially looking forward to Ethereum 2.0 - then the network growth itself gives BNT in the growth scenario a more positive outlook and just ETH - then I can use it for my own tokens which hold BNT in reserve^^ when I have that - I again hold implicitly the BNT and have the growth of my token supply as another next level
Thanks Lenard for you thoughts. I have been deciding whether I should keep my BNT or move into a more promising opportunity. It may be worth waiting for Ethereum 2.0 to see if that breathes some life into BNT. Thanks again.
The SENSE Token Migration ENDS TODAYThe final migration period is ending today! Teleport your SENSE (Ethereum) Tokens --> SENSE (EOS) Tokens! To get started, please head over to https://sensetoken.com/ and follow the instructions.You'll be receiving 3 SENSE (EOS) tokens for each 1 SENSE (Ethereum) teleported.IMPORTANT: SENSE (Ethereum) will be unlisted from Bancor after migration ends.If you have any questions or issues please email [email protected]☝️Please note that the SENSE token migration only applies to those who currently have ERC-20 SENSE. If you only have SENSE on the Sense.Chat app, you won't need to complete a migration, and no further action is needed on your part! Now get out there and pump some chats!💪⚡️
If you have evidence of wrongdoings by any project that is integrated with Bancor, please reach out to the Bancor support staff at support.bancor.network. But casting aspersions that Bancor is a scam because of projects that independently integrated with Bancor is like saying that Ethereum foundation is a scam because scam projects made ERC20 tokens.
If you have been excited about using the Bancor's new Community Staking on the Ethereum side, you will be happy to hear that it has been expanded to EOS! If you want to contribute to liquidity pools on Bancor, simply buy a Relay Token. http://ban.cr/staking