[ANN] Bancor | Protocol for Smart-tokens, solving the liquidity problem - page 132.

EyeofthebeHODLer

jr. member

Activity: 364

Merit: 1

Quote from: Freaks on July 21, 2018, 08:10:33 AM

Quote from: mexi.db on July 21, 2018, 07:45:01 AM

"Decentralization is not the goal of this movement. Rather, decentralization is a tool to remove monopoly power over financial (and other) services."

Read Bancor Product Architect Eyal's post "Decentralization is a Journey, Not a Destination": https://blog.bancor.network/decentralization-is-a-journey-not-a-destination-263c38b53bd

That is the approach which any project need to become the world class although it was another horrible incident in the history of cryptocurrencies. The team was aware of past attack on TheDao and that is why they make this network secure and with that feature they were able to make possible of token recovery and in future they will implement more features on this network.

Agreed Freaks. While this was very much a regrettable incident, it also served to highlight the effectiveness of the security measures Bancor had put into place for BNT. It also, as you pointed out, brought the issue of security and what can be done to mitigate breaches to a more prominent place in the awareness of the global crypto community. We and the Bancor team are very excited to see what innovations this will lead to in the future to help protect everyone.

Freaks

legendary

Activity: 1554

Merit: 1001

Quote from: mexi.db on July 21, 2018, 07:45:01 AM

"Decentralization is not the goal of this movement. Rather, decentralization is a tool to remove monopoly power over financial (and other) services."

Read Bancor Product Architect Eyal's post "Decentralization is a Journey, Not a Destination": https://blog.bancor.network/decentralization-is-a-journey-not-a-destination-263c38b53bd

That is the approach which any project need to become the world class although it was another horrible incident in the history of cryptocurrencies. The team was aware of past attack on TheDao and that is why they make this network secure and with that feature they were able to make possible of token recovery and in future they will implement more features on this network.

mexi.db

full member

Activity: 532

Merit: 102

"Decentralization is not the goal of this movement. Rather, decentralization is a tool to remove monopoly power over financial (and other) services."

Read Bancor Product Architect Eyal's post "Decentralization is a Journey, Not a Destination": https://blog.bancor.network/decentralization-is-a-journey-not-a-destination-263c38b53bd

JanuaryN

jr. member

Activity: 364

Merit: 2

Watch the Bancor team's Eyal Hertzog and Omri Cohen discuss "The Road Ahead", EOS, and centralization with CryptoLark:

https://www.youtube.com/watch?v=d9Sf61KQJtE

obsbtc

member

Activity: 1330

Merit: 10

Quote from: Vyachel on July 20, 2018, 02:52:46 PM

Quote from: fast2fix on July 20, 2018, 02:25:36 PM

Quote from: AUKING on July 20, 2018, 11:44:51 AM

Can bancor exchange can add open source distributed coin SHA256 like AurumCoin (AU) to your bancor-network ?
https://coinmarketcap.com/currencies/aurumcoin/

i think they cannot add au, bancor runs on ether blockchain and it can only facilitate exchange between ether and erc-20 tokens. in future with interoperability bancor may provide exchange of tokens that are on different blockchain.

You think right. I read that promising decentralized exchanges plan to provide token exchange between different blockchains. But I don't know when The bancor command implements this feature.

Crosschain is expected for Q2 2019! https://t.me/bancor/70944

Vyachel

member

Activity: 294

Merit: 10

SEMUX

Quote from: fast2fix on July 20, 2018, 02:25:36 PM

Quote from: AUKING on July 20, 2018, 11:44:51 AM

Can bancor exchange can add open source distributed coin SHA256 like AurumCoin (AU) to your bancor-network ?
https://coinmarketcap.com/currencies/aurumcoin/

i think they cannot add au, bancor runs on ether blockchain and it can only facilitate exchange between ether and erc-20 tokens. in future with interoperability bancor may provide exchange of tokens that are on different blockchain.

You think right. I read that promising decentralized exchanges plan to provide token exchange between different blockchains. But I don't know when The bancor command implements this feature.

fast2fix

legendary

Activity: 1612

Merit: 1001

Quote from: AUKING on July 20, 2018, 11:44:51 AM

Can bancor exchange can add open source distributed coin SHA256 like AurumCoin (AU) to your bancor-network ?
https://coinmarketcap.com/currencies/aurumcoin/

i think they cannot add au, bancor runs on ether blockchain and it can only facilitate exchange between ether and erc-20 tokens. in future with interoperability bancor may provide exchange of tokens that are on different blockchain.

DashingCrypto

jr. member

Activity: 504

Merit: 1

Quote from: AUKING on July 20, 2018, 11:44:51 AM

Can bancor exchange can add open source distributed coin SHA256 like AurumCoin (AU) to your bancor-network ?
https://coinmarketcap.com/currencies/aurumcoin/

The team can apply to be on the Bancor network by following this link: https://ban.cr/GotLiquidity

AUKING

full member

Activity: 386

Merit: 101

Can bancor exchange can add open source distributed coin SHA256 like AurumCoin (AU) to your bancor-network ?
https://coinmarketcap.com/currencies/aurumcoin/

Tarasov1992

jr. member

Activity: 266

Merit: 1

Add your token to the Bancor Network and get instant liquidity regardless of trade volume or exchange listings:https://ban.cr/GotLiquidity

JanuaryN

jr. member

Activity: 364

Merit: 2

See Bancor's Head of Growth, Omri Cohen, discuss Bancor and the future of decentralization:

https://www.youtube.com/watch?v=0ttJrQYezNY

TheRedCanary

member

Activity: 390

Merit: 11

Quote from: Sitimunirah on July 19, 2018, 10:47:39 PM

When can we expect to have ledger nano support?
Would be awesome if you can do that in Bancor

Hey, I agree, the team is working on it at the moment. We will announce once it is ready.

Sitimunirah

full member

Activity: 156

Merit: 100

When can we expect to have ledger nano support?
Would be awesome if you can do that in Bancor

EyeofthebeHODLer

jr. member

Activity: 364

Merit: 1

Quote from: PandoraTV on July 19, 2018, 04:25:10 PM

Quote from: 2012 on July 18, 2018, 09:02:22 AM

Quote from: alvena on July 18, 2018, 08:39:35 AM

By token bancor, nothing has disappeared, the very fact of hacking is of course very unpleasant, but I think the team will draw conclusions and will do everything possible so that such situations no longer repeat. Meanwhile, the price for Bancor is gradually beginning to recover.

Even this was mentioned before about some security holes and it could lead to a big lose if someone made hack attempting on this network. But they ignored this warning in past and didn't took this seriously and now after this incident they have their focus to make secure this network and fixing all bugs there. That is the reason price is start recovering I hope in future this will become secure network.

Nature learns through catastrophes, and so do humans. Even though if would have been obviously better to secure the network thinking in advance that something like that could happen, nevertheless it's OK to do it later as well, especially as major damage has been avoided.

Thanks for your understanding PandoraTV! Indeed, it is very much preferable to prevent incidents from happening in the first place. But as you so rightly point out, the important matter is that the team has learned from this breach and is working to prevent them from happening again. The fact that this is the first breach of any real significance in over a year of service, as well as over a billion USD processed is a great sign. But things can always be improved, and the team is very keenly aware of that fact. One good result of this breach (if we are to look for silver linings) is that it proved the security measure built into BNT to be useful, and has prompted a greater discussion in the community as a whole on the topic of security for exchanges as well as how much is too much. We look forward to what the future has in store, and the improvements that this will bring to the space in general.

PandoraTV

newbie

Activity: 57

Merit: 0

Quote from: 2012 on July 18, 2018, 09:02:22 AM

Quote from: alvena on July 18, 2018, 08:39:35 AM

By token bancor, nothing has disappeared, the very fact of hacking is of course very unpleasant, but I think the team will draw conclusions and will do everything possible so that such situations no longer repeat. Meanwhile, the price for Bancor is gradually beginning to recover.

Even this was mentioned before about some security holes and it could lead to a big lose if someone made hack attempting on this network. But they ignored this warning in past and didn't took this seriously and now after this incident they have their focus to make secure this network and fixing all bugs there. That is the reason price is start recovering I hope in future this will become secure network.

Nature learns through catastrophes, and so do humans. Even though if would have been obviously better to secure the network thinking in advance that something like that could happen, nevertheless it's OK to do it later as well, especially as major damage has been avoided.

obsbtc

member

Activity: 1330

Merit: 10

Unblocked Ledger (ULT) and LockTrip (LOC) are LIVE on the Bancor Network.

https://t.me/BancorNews/163

shewasfourteen

sr. member

Activity: 686

Merit: 261

An awesome 10-slide explanation of the Bancor Protocol in English and Chinese by eostechlover:
https://ban.cr/10pics

Tarasov1992

jr. member

Activity: 266

Merit: 1

Quote from: jtalk on July 19, 2018, 04:30:32 AM

I will expect more security measure's from Bancor's team they had left opened emergency feature to freeze the asset. But this helped them alone wouldn't be better to be taken some extra measure for the tokens which are in their hot wallet. That theft have damaged those effected tokens which were having nice growth and lost the momentum. On decentralized exchanges smart contracts play role of trusted party if there is issue then what can you do. Smart contracts exploitation has caused in past such incidents as well.

Hello, Jtalk. As per the latest update from the team, they have managed to recover half of the funds already. Did you watch the latest discussion of the breach here:
https://www.youtube.com/watch?v=kxf48BTRdPo&feature=youtu.be&t=789 ?

jtalk

legendary

Activity: 1610

Merit: 1004

I will expect more security measure's from Bancor's team they had left opened emergency feature to freeze the asset. But this helped them alone wouldn't be better to be taken some extra measure for the tokens which are in their hot wallet. That theft have damaged those effected tokens which were having nice growth and lost the momentum. On decentralized exchanges smart contracts play role of trusted party if there is issue then what can you do. Smart contracts exploitation has caused in past such incidents as well.

mexi.db

full member

Activity: 532

Merit: 102

Quote from: jezus on July 19, 2018, 01:50:28 AM

But it is working exchange fake hack.

The security breach was a theft and not a hack. You might be interested in this: Bancor's VP Growth, Omri Cohen, speaks with TheCryptoZombie about security, decentralization and more. https://ban.cr/CryptoZombie

Topic: [ANN] Bancor | Protocol for Smart-tokens, solving the liquidity problem - page 132. (Read 375744 times)