Bancor: What is it? What does it do? And Why is it so ground-breaking?
Bancor: What is it? What does it do? And Why is it so ground-breaking?
When I first heard the name Bancor I instantly thought of a giant, centralized corporation that answered to the banksters first. The name itself sounded way too close to Bankcorp and was a huge turn-off. Because of this, I ignorantly looked the other way whenever I saw someone talking about it.
I was wrong
Whenever I travel I like to listen to podcasts. With my recent fascination with cryptocurrency... well, let's call it an obsession to be more accurate... I searched the iTunes store to see what types of podcasts were out there in this genre. I came upon one that was put out by https://www.icoalert.com/ and the premise is an interview with the heads of some of the most anticipated upcoming ICOs. There was only one episode so far and it featured an interview with Eyal Hertzog (founder of Bancor). Though I had been closed off in the past, I decided it was time to learn more.
The podcast took off and began getting into Hertzog's days as the creator of MetaCafe. He then got into how he came up with the idea for Bancor and then explained the idea and concept behind it. There is no doubt we need a solution to centralized cryptocurrency trading markets. This solves it all by creating one place to trade any coin without the need of finding another person looking to buy. All with setting the prices per supply and demand, too! It is... so simple but ground-breaking.
I don't want to ruin it for you all but if you haven't fully embraced Bancor or wrapped your head around the concept, this is for you! I am extremely excited for the possibilities this will bring us!
Listen to Show / Read Show Notes:
https://www.icoalert.com/podcast/interview-eyal-hertzog-cofounder-bancor-soccer-moms-and-smart-tokens/
Subscribe to Podcast on iTunes:
https://itunes.apple.com/ie/podcast/ico-alert-podcast-cryptocurrency-blockchain-ico-interviews/id1247296251?mt=2
Interesting. Will liaten it up
I'm interested in seeing if this actually works but because of ethereum congestion it seems all dapps are not doing great.
It's a bit counterintuitive - upon critical analysis it seems that bancor could never set prices only trail the actual market, but we will see.
Also if you read up on bancor, it's design and purpose does not resemble the bancor protocol, except in algorithmic setting of prices and value rather than having a free market dictate them.
Nice article. Really appreciate you bring this to our attention. Sell the coins that you know nothing about. Do proper research on any coin you buy. If the market falls at least you can hold your coins knowing they have a long term future. I found this amazing platform: https://www.coincheckup.com They seem to give this complete indepth analysis of all cryptocoins. On: https://www.coincheckup.com/coins/Bancor#analysis For a complete Bancor Indepth analysis
nice!
Thank you. I think this is going to take centralized and decentralized exchanges out of the question. I wanted to buy into the NVO ICO but after hearing this... I think it would be hard to succeed if Bancor can do everything he was saying!