Bancor Releases Six Month Update

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The project claims 50 partners and $500 mln worth of BNT tokens in exchanges.

After raising over $150 mln in its token generation event the Bancor ICO has issued its first major update regarding its platform and usefulness. The announcement includes substantial information regarding adoption of the Bancor Blockchain protocol, along with statistics for how many tokens are now tradable through the Bancor system.

To date, nine different tokens have been activated in the Bancor system and are available through Metamask, Mist, and Parity. The tokens include GNO, ENJ and ETH, along with the BNT token and others. More than 50 partners have also adopted the platform. This adoption has generated more than $500 mln in exchanges of BNT tokens within the platform.

Not another Tezos

Bancor’s apparent success is of particular note after the implosion of the Tezos platform, another large ICO. Tezos is currently embroiled in at least two class action lawsuits, with more potentially coming. Bancor’s announcement indicates substantial adoption and a clearly increasing business platform from which to build.

Bancor has already activated their token, launched their web app, integrated token replay, and has now deployed their portable widget to allow users to buy and sell anywhere on the Internet. This feature alone protects users and allows them to convert tokens remotely. According to co-founder Galia Benartzi:

“Bancor’s mission is ultimately to enable anyone to create a viable and liquid token for their community or project, and to modernize the system by which we issue, distribute and convert these tokens among us, thanks to smart contracts and Blockchain technology. We are tremendously invigorated to keep pushing forward towards the Bancor Network’s next milestones. 2018 will be a breakout year.”

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Author: Jon Buck

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