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

[GayEddie]

White Paper outlines that a relay token can be configured to take a contribution from each conversion. Does BNT charge a contribution for conversion via BNT in it's role as a relay token? Is so, how much does it take?

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[yudi09]

I hope that this project will return with more security, and the development team will correct all errors. The team is very cooperative and makes every effort to return this platform. I wish you the best of luck and all the best.

I think the team has said that they will not patch the security flaw that led to the hack and therefore the control of the 'smart contracts' remain centralized.

Well to be clear, it was a theft, not a hack. The investigation is still ongoing, the team will release more details once things are concluded.

Well to be clear, it was a simple "hack" not a theft unless proven otherwise. Since the investigation is still ongoing, do you suppose the simplest explanation is that this was an inside job? This is especially so since it was only the team that had access to the key, so it must be someone from the core team?

Well before we start making brazen claims, there has been no indication as to who the thief is, so I will not be speculating as to the guilty party is. Once the team concludes the investigation, they will promptly update the community, as they had when the theft occurred. Keep in mind, not one wallet from the community was affected, and this is something that the team is taking as a positive in a negative situation.

I agree, we should not speculate on this incident because it can cause unpleasant situations. we are patiently waiting for the results of the investigation being carried out now, hopefully it will be finished soon and the problem can be solved

[nickamazix]

White Paper outlines that a relay token can be configured to take a contribution from each conversion. Does BNT charge a contribution for conversion via BNT in it's role as a relay token? Is so, how much does it take?

Hey Eddie,

Bancor doesn't receive any revenue from conversions. It is the specific relay owners who receive the spread during conversions which is generally around 0.2 or 0.3%.

[BancorAmbassador]

I hope that this project will return with more security, and the development team will correct all errors. The team is very cooperative and makes every effort to return this platform. I wish you the best of luck and all the best.

I think the team has said that they will not patch the security flaw that led to the hack and therefore the control of the 'smart contracts' remain centralized.

There is no security flaw to patch. BNT's anti-theft override feature will remain in place, but was not the cause of the theft. The investigation is still ongoing.

[ruletheworld]

I hope that this project will return with more security, and the development team will correct all errors. The team is very cooperative and makes every effort to return this platform. I wish you the best of luck and all the best.

I think the team has said that they will not patch the security flaw that led to the hack and therefore the control of the 'smart contracts' remain centralized.

There is no security flaw to patch. BNT's anti-theft override feature will remain in place, but was not the cause of the theft. The investigation is still ongoing.

Yes, there was a security flaw that the team has refused to patch. This was pointed out to the team even before the ICO. Having a single address control funds in a smart contract means it is a security flaw. If you wish to learn why, look up Nick Szabo's trusted third parties are security loopholes.

If you disagree, show me one reputable security engineer that would attest to the fact that a single point of failure for funds in the smart contract is a good idea from a security point of view.

Irrespective of the exact mode of failure that led to the hack (whether inside job or not), the fact that there is a single address in control of a smart contract is a bad idea and a security flaw.

[pumz]

It seems that until the investigation report is not published after what the factors behind the exploitation are identified people will not let this topic go away. If Bancor was a simple token it wasn't getting such attention but being liquidity provider it has double responsibility. People want transparent investigated report for their own tranquility and satisfaction.

[mexi.db]

WATCH: Galiabenartzi discusses community currencies and building bridges in blockchain at d10e in TelAviv. https://ban.cr/GaliaD10Etlv

[shewasfourteen]

An in-depth presentation on implementing the Bancor Protocol with Ruby on Rails (In Japanese).

https://ban.cr/PresentationJP

[Tarasov1992]

Instantly convert DBET tokens on Bancor: https://ban.cr/DBET

[faragly]

Bancor is using blockchain to fight poverty in Kenya

This week a local shop in Mombasa, Kenya, made history by enacting the first ever community currency transaction on the blockchain.

https://www.chepicap.com/en/news/2855/.html

[EyeofthebeHODLer]

Bancor is using blockchain to fight poverty in Kenya

This week a local shop in Mombasa, Kenya, made history by enacting the first ever community currency transaction on the blockchain.

https://www.chepicap.com/en/news/2855/.html

It's very exciting news! You can read about it in Bacor's latest blog post as well.

[mamoto]

Bancor is using blockchain to fight poverty in Kenya

This week a local shop in Mombasa, Kenya, made history by enacting the first ever community currency transaction on the blockchain.

https://www.chepicap.com/en/news/2855/.html

This is really a big step not only in the development of the crypto industry, but it all brings real benefits for many people, it gives more new opportunities and freedom.
The Bancor blog tells of its mission to enable fast and feeless transactions between neighboring community currencies, such as the Bangla-Pesa and Ng’ombeni-Pesa. August 8th marked the accomplishment of that mission, with a local shop trading Tomatoes and chapatti on the blockchain.
The Protocol managed to achieve this goal via its Bancor wallet. The wallet utilizes the blockchain to enable the conversion of virtual currencies directly and instantly without the need for an exchange.
The blog notes its further efforts to tokenize the Sarafu credit system, a community currency system currently used by five different communities around Kenya. Sarafu credit aims to foster local trade and allow slums and informal settlements access to basic amenities such as food and water when the national currency unavailable.

[abonarea]

We are heading towards that prediction about third dapps killer wave about which Eyal Hertzog indicated. I will say this thing will complete evolutionary process which was started by permissionless money. If we spend few moments to understand its role then Bancor fits well in that kind of system which is coming in future.

[RysEmanuel]

We are heading towards that prediction about third dapps killer wave about which Eyal Hertzog indicated. I will say this thing will complete evolutionary process which was started by permissionless money. If we spend few moments to understand its role then Bancor fits well in that kind of system which is coming in future.

Hey Abonarea! Yeah I totally agree, with a little bit of time spent looking into it, it's obvious that Bancors strengths will be proven.
Also if you're not already in the Telegram Channel, it's worth being a a part of.

[GDM]

Good project!

[JanuaryN]

Good project!

Thank you, GDM

[Quaglia]

I have noticed that Bancor is nicely keeping most of its value in a time when 90% of the cryptocurrencies are losing up to 90% of their value.

Initial price of this token was around $4 and it hit $10 on high time. If we compare with high time than it lost almost 80% which is really huge but they are active and with long term approach it is still good investment.

The market overall is not doing good at the moment. Thank you for your kind support!

ATH 10$ was especially caused by ETH price mooning and BNT is still pegged to ETH for some strange reason, so BNT's price  has suffered some of the overall Pump&Dump attitude of the market as a whole. Still, compared to most of the other coins, BNT's graph looks much smoother in its ups and downs.

[emreunsal10]

I have noticed that Bancor is nicely keeping most of its value in a time when 90% of the cryptocurrencies are losing up to 90% of their value.

Initial price of this token was around $4 and it hit $10 on high time. If we compare with high time than it lost almost 80% which is really huge but they are active and with long term approach it is still good investment.

The market overall is not doing good at the moment. Thank you for your kind support!

ATH 10$ was especially caused by ETH price mooning and BNT is still pegged to ETH for some strange reason, so BNT's price  has suffered some of the overall Pump&Dump attitude of the market as a whole. Still, compared to most of the other coins, BNT's graph looks much smoother in its ups and downs.

exactly. when eth is rising per usd, bnt will rise again. it's always pegged to eth. you can all check graphs and see it's the same graph eth and bnt.

[DashingCrypto]

You can reach Bancor on Telegram via the following groups and channels!

• Bancor Main Group - General Bancor Discussion
• Bancor Support- Support Issues
• Bancor News - News, and additional tokens
• Bancor Traders - Trading Discussion

[JanuaryN]

Need to downgrade Metamask to the old user interface?

https://support.bancor.network/hc/en-us/articles/360013202311-How-can-I-downgrade-MetaMask-to-the-old-user-interface-