Topic: [ANN] Bancor | Protocol for Smart-tokens, solving the liquidity problem - page 131. (Read 375744 times)

It is understandable the point of view and vision what Galia has discussed with Max Keiser on the future of liquidity network. It will remain to be seen how that model or mechanism of some third kind system which is neither centralized nor decentralized but is extremely useful to combat the criminal attacks on networks. This exploiting has opened new debate of collaboration within the industry that is quite interesting.

Regarding fees, Relay owners receive the spread incurred during conversions but it is calculated into the price.

As for profit, Bancor is a non profit and we sustain ourselves through the initial TGE and by increasing the value of the Network.

As you may know, transaction fees go to miners on the Ethereum Network.

Could you please explain any fees and/or spreads that Bancor, related parties or unrelated parties take when I transact on Bancor?

Interview with Galia Benartzi, co-founder / head of business development of Bancor:

https://www.youtube.com/watch?v=JQdQYv5RGG0

Hi erwan, great question. Bancor uses an algorithm outlined in our whitepaper.  

price =          connector balance
             Smart Token’s outstanding supply × CW

You can read all the details about token price in the whitepaper on section 3
https://storage.googleapis.com/website-bancor/2018/04/01ba8253-bancor_protocol_whitepaper_en.pdf

I want to ask how bancor network is working?
For example i want to exchange ethereum with a coin. How bancor network define the token price?
Is it market price or something else. Cause I couldn’t find anything like ask -order sections.

Regarding your question, every relay currently takes between 0.2 and 0.3% spread, depending on the converter


You can use https://www.bancor.network/ at will, Bancor's WebApp has not been compromised

I use this link https://bancor.network

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And another member of Bancor Network:
ReMoneta, a land-backed payment system connecting crypto to commerce, has announced integration with Bancor to offer RET token holders continuous liquidity.
https://ban.cr/ReMonetaIntegration

Hello guys, just let me ask if you still guys use this link https://www.bancor.network/ for bancor network?
because I would like to exchange some tokens with other tokens.
I just want to make sure that the site is not compromised.

White Paper outlines that a relay token can be configured to take a contribution from each conversion. Does BNT charge a contribution for conversion via BNT in it's role as a relay token? Is so, how much does it take?

WATCH: Galia Benartzi & Max Keiser discuss security, decentralization and the role of money in global trade imbalances on Keiser Report https://ban.cr/GaliaKeiserReport

Nexo ( NEXO ) is LIVE on the Bancor Network. Convert tokens now: https://ban.cr/Nexo 

If this wasn't explicitly programmed into the BNT contract, not a penny would have been lost. I read that promising decentralized exchanges plan to provide token exchange between different blockchains.

I see your point of view. Without additional features such as convertibility, ETH reserves aren't necessary, meaning Bancor would hold no funds that could be stolen.

The safest way to store one's funds is to memorize a 42 digit private key and never access these funds.

Most of us know the safest way to do something, and then take another route for the sake of convenience. Bancor is connecting as many low volume tokens as possible; a great convenience that makes illiquid currencies liquid.

While BNT's ETH reserves are a target, they're also a tool that make low volume tokens available, convertible, and valuable. They increase wealth to those who have created the product or service for which these tokens pay, and those who pay benefit from the products and services desired.

There are foundations with tokens focused on absolute security, and that's great technology. Bancor is focused on absolute inclusion and community. While the team are learning from this unfortunate event, it's also worth pointing out that a far reaching community has been linked together, in a secure enough way that over $1 bn in transactions were made safely prior to the theft.

This technology is new, and expensive security holes will reveal and improve crypto and blockchain. In ten years we'll look back at a lot of mistakes that could've been prevented, had security been important above all else. In the meantime, we can do our best to manage the risks associated with new technology, and improve security, without abandoning our vision for the future. 

Wait what? If anything, the incident showed how centralized services are a security loophole. If this wasn't explicitly programmed into the BNT contract, not a penny would have been lost. I don't understand your reasoning - care to explain?

Did you know that tokens like Unblocked Ledger (ULT) and LockTrip (LOC) recently appeared on the WebApp? Want to know when there are new tokens? Be sure to follow the News channel!

https://t.me/BancorNews

It is interesting: Bancor Product Architect Eyal Hertzog and VP of Growth Omri Cohen join Jason Appleton to discuss the future of crypto security: https://ban.cr/CryptoCrow

This is a realy interesting project. You have slightly to read more than on other ICO sites, but it seems to be a great opportunity to invest in a pure utilization token. The use cases of the project are well explained, the USP is clearly visible and the team is very well positioned.

Hello, Denam, security measures are indeed required when it comes to dealing with actual funds. Thank you for your kind support. 

This article provides sufficient information and material to understand the Bancor's business philosophy or approach whatever we can call them. We we watch things how they have built from the start and want to carry on then the necessity of such security measures make sense. If we stand on the concept of decentralized exchanging tool which we are familiar of then it looks little different.