Bancor expands to EOS blockchain0.2

Bancor, a digital wallet that allows you to trade ethereum-based tokens without using an exchange, is expanding to the EOS blockchain. According to Coindesk, "the new cross-chain product, called BancorX, will allow users to trade between select EOS-based tokens – which have yet to be specified – as well as between EOS- and ethereum-based tokens."

EOS New York
@eosnewyork

The @Bancor protocol is coming to @EOS_io. “This will allow users to buy and sell EOS tokens directly on the blockchain; with no deposits, no central servers storing your tokens, and no need to match buyers and sellers.” medium.com/@liquideos/liq… #eos $eos @LiquidEOS

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Some are celebrating this as enabling crosschain transactions, in this case between Ethereum and EOS.

Although it remains to be seen if/when this goes live, because no timeline was announced for BancorX launching on the EOS mainnet.

Regardless, it's clear that Bancor founder Eyal Hertzog (who also founded early online video company Metacafe, back in Web 2.0), now favors EOS over Ethereum as a dapp platform:

Eyal Hertzog
@eyal

Ethereum works as a solution for issuing tokens, however, it currently doesn't seem to be fast nor scaleable enough to host succesful dApps.

EOS does. twitter.com/LiquidEOS/stat…

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...leading some to speculate that perhaps Bancor is planning to drop Ethereum:

Mix
@Mixtatiq

let's see how long it takes before we get bancor's 'we're ditching Ethereum for EOS' announcement. twitter.com/eyal/status/10…

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One of the knocks on EOS is that it's blockchain is not immutable. The implication for Bancor is that its "decentralized liquidity network" may not be as secure on EOS as on Ethereum. 

Christian Ander
@nderchris

Let's make this completely clear: all smart contracts deployed on the EOS blockchain can be edited, updated, and changed after they are deployed, at any time, without notice (other chains has like Bancor have similar backdoors.) Not possible with Ethereum without hardfork.

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Interesting to see crosschain developments, but we'll see how this plays out. Let us know your thoughts on BancorX in the comments.

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