Total Coins: 4344
Total Market Cap: $ 17,214,374,173,658
24H Trade Volume: $ 6,457,934,019
Bancor Network Token (BNT)
$ 1.453 ( -1.49%)
Mkt. Cap.
$ 114.04 M
Vol. 24H
BNT 0 ($ 0)
Open 24h
$ 1.475
Low/High 24h
$ 1.421 - $ 1.481
Last trade
BNT 0 ($ 0) / BitTrex

Charts price for Bancor Network Token (BNT)

Loading chart ...
Loading chart ...

Description of Bancor Network Token (BNT)

Bancor Network Token Origin

Release Date: June 17, 2017.

The Bancor Network Token was created by The Bprotocol Foundation in 2017. BNT derives its name from the International trade balancing currency initially brought to attention by John Maynard Keynes during the Bretton Woods Conference of 1944.

Bancor Network Token Functionality

Essentially, the Bancor Protocol is a standard for the creation of Smart Tokens. Which are digital assets with a built-in convertibility feature in their smart contracts. What’s interesting about BNT is that the project managed to amass close to 140 million USD in a matter of around three hours.

The Bancor Protocol uses “connector” modules that hold balances of all ERC20 tokens within a smart contract. The protocol continuously recalculates costs in order to maintain a balance between connectors and smart contracts. So, the BNT token can be used to convert between all tokens within the Bancor Network and vice versa. The purpose here is in order to bypass cryptocurrency exchanges as well as providing for improved liquidity to the Ethereum token ecosystem.

Basically, the benefit of owning BNT tokens is that you as an investor, can profit from token price differences without a heavy reliance on digital asset exchanges. BNT provides for infinite liquidity, backward compatibility, lower volatility, and projected price slippage.

The project has been repeatedly criticized for raising an excessive amount of money during their tokensale. Due to the fact that a 150-million-dollar ticker is way too much for the software product that the organization is delivering. Additionally, Bancor can arbitrarily bloat the number of tokens in circulation at any point in time.