Bancor which is a popular decentralized exchange (DEX) protocol on the Ethereum blockchain declared in Sep that they would establish a path to the EOS network. The recent procedure named BancorX is online.
BancorX authorizes digital asset transformations between 110+ Ethereum and EOS-supported digital currencies. Projects initializing the system added Everipedia, eosBLACK, BetDice, MEET.ONE, KARMA, Prochain, and Chaince.
Bancor Makes Paths To Fill the Gap Between Ethereum And EOS:
BancorX had been established in co-relations with EOS block manufacturer LiquidEOS. It utilizes Bancor’s own asset, BNT to manage the exchanges. BNT recently is working for both Ethereum and EOS blockchains. It provides a potential role between these two blockchain systems, made capable cross-chain transformation. When an Ethereum digital asset is changed onto an EOS asset, firstly will have to be transited to BNT. this BNT is conveyed to the EOS blockchain that would be changed to the EOS asset. All of the events on the background of BancorX cares the liquidity.
Theodor Forselius who is the CEO and also co-founder of Everipedia remarked in such words:
“The Bancor Protocol is the leading project in the crypto space that is bringing cross-chain liquidity and decentralized conversion functionality to EOS and Ethereum. We’re very excited to have the Everipedia IQ token listed on BancorX”.
Will Ethereum-EOS Path Bring Increment In Bancor Status?
BancorX can be approached by other trading channels, decentralized requests, and services without spending amount. Bancor has also proclaimed a 500,000 BNT great program for software engineers to upgrade Bancor’s EOS agreements and also client interface.
An initial coin offering (ICO) made 153 million dollars in 2017, Bancor was gradual to face contributors’ giant assumptions. It is the 13th famous dApp judged in previous 24 hours due to having 156 clients.