This is how dreams of past come true in present

Many years ago, economists wanted to create a single currency for all the international transactions, payments and so on. As an example, John M. Keynes originally developed a bancor for this matter at the Bretton Woods Conference in 1944.

Nowadays, this idea has come to our daily life as a cryptocurrency established by The Bancor Foundation. https://www.bancor.network/

What is Bancor?

Bancor is a network that lets users convert between two tokens like an exchange. The network lets you convert between two tokens of your choice without any counterparty. You can do this while taking advantage of an automatically calculated price. The system also incorporates built-in liquidity for added convenience.

As Bancor's main idea, The Bancor Protocol is thought to be a new standard that ERC20 tokens follow. It lets smart contracts connect with a liquidity network for continuous liquidity on the chain throughout the network. Because of the protocol and this liquidity, there is no requirement to match sellers and buyers.

The Bancor Protocol takes advantage of what it calls “connector” modules. They hold the balances of different ERC20 tokens in a smart contract. The Bancor Formula recalculates prices constantly as a way to maintain the balance between connectors and smart contracts.

Present activity of Bancor
Bancor has officially been integrated with some famous cryptocurrency blockchain as Ethereum, EOS and ZEON.

If you don't know, ZEON is a new DAO Blockchain Platform designed to minimise complexity and user's risks.

In June 2018 ZEON Foundation and Bancor Network has officially signed a partnership. And after the ICO token sale of Zeon Network user's can easily buy and sell ZNCs via Bancor.

Conclusion
The Bancor Network and Bancor Protocol allow users to convert tokens without having to trade them with another user thanks to the high liquidity of the market. The protocol has already proven popular and effective thanks to its ability to eliminate counterparty risk and streamline the entire process of converting tokens. Since it is possible to add tokens to the network, the usefulness of the Bancor Network should only expand in the future.

Feel free to ask your questions! Will be glad for any ;)

Our website - https://zeon.network