Bancor (BNT) is a blockchain protocol that allows users to convert between different tokens directly as opposed to exchanging them on cryptocurrency markets. The Bancor protocol is a standard that allows anyone to easily create completely liquid “smart tokens” that calculate their own prices & enable a single party to convert any token to another, without requiring a second party to facilitate the exchange. The Bancor network token holds a single reserve in Ether and forms a monetary structure where increased demand for any of the network’s smart tokens drives up the value of the Bancor token, benefiting all other smart tokens holding it in reserve.
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