Bancor is a cryptocurrency project that seeks to make it easier for people to buy and sell digital tokens. It was founded in 2017 with the aim of creating a new standard for the exchange of digital assets. The company has developed a protocol that enables the conversion of cryptocurrencies into each other without the need for a third-party broker. The Bancor network is powered by the BNT token, which acts as a bridge between different digital assets.
The Bancor Protocol is a decentralized liquidity network that enables users to convert between different digital tokens without the need for an intermediary. The protocol is built on Ethereum and uses a system of smart contracts to facilitate the conversion of tokens. The core of the Bancor Protocol is the Bancor Network Token (BNT). BNT is used to pay fees for token conversions and to reward users who provide liquidity to the network.
The Bancor Network provides a range of services for users, including the ability to convert tokens, providing liquidity for token conversions, and offering a variety of token management tools. The Bancor Network also provides a platform for decentralized applications (dApps). On the Bancor Network, dApps can create their own tokens and leverage the protocol to facilitate trading.