ICO's new record creator - Bancor
Bancor(BNT), this is a blockchain project that everyone is not familiar with, but it is ICO has raised $153 million Ethereum, which has set a new record for the industry. This is a breakthrough for the blockchain industry, it will be remembered.
Bancor is one of the heavyweight projects on Ethereum, and the Bancor agreement focuses on solving the liquidity problem of asset swaps and releasing the long tail potential of user-generated currencies. The Bancor protocol provides a standard for the creation of smart tokens, providing continuous liquidity and asynchronous price discovery for tokens through smart contracts, enabling transactions without an exchange.
According to the data we have collected, Bancor's ICO smart contract has received more than 390,000 Ether coins worth approximately $152.3 million. This figure has broken the XZC ICO record. Zcoin had raised $125 million worth of Ether.
In total, Bancor distributed a total of 79,323,978 Bancor Network Tokens (BNT), of which the top token holders had 66,601,702 BNT tokens (83.96%). It is reported that 50% of the total number of Bancor (39,661,989 BNT) is sold to the public, and the remaining 50% has not yet been allocated.
Based on the available data, the ICO attracted 10,885 investors and more than 15,000 transactions were sent to the contract sales address. One of the superpowers purchased 6.9 million BNT tokens worth about $27 million.
Practical application of Bancor
The Bancor project was launched in 2017. It is managed by the Bprotocol Foundation and aims to make it easier for users to publish their own blockchain tokens. It is different from LOOM. The Bancor agreement focuses on solving the problem of asset liquidity, better solves the problem of trading, and can start trading without going to the exchange. LOOM, like most cryptocurrencies, trades through the trading platform. Bancor's transactions can save a lot of trouble.
More importantly, Bancor has a very strong advantage. Everyone has more or less AltCoin. One day when you suddenly want to sell your own tokens, you will encounter some minor problems. It may be that you cannot provide the price you are satisfied with. Dealing with a large number of encrypted digital currencies is facing the same challenge - liquidity, these encrypted digital currencies are not able to trade on many exchanges, and their attention is far less than Bitcoin, Litecoin so much, but you can not Denying that even the smallest tokens have their own characteristics, you cannot say that they are worthless.
This situation is known in economics as "due to double coincidence," ie, the needs of both parties in the transaction are exactly matched at the same time and there is no disagreement, which is almost impossible for the minority to encrypt the digital currency. The emergence of the Bancor agreement will solve this problem for niche encrypted digital currency, leaving its investors with no worries.
Bancor is very late
Bancor's website shows that the company’s initial target for funding was 250,000 Ether coins, although it was not fixed in the contract.
The ICO attracted more than 10,000 buyers and has received 15,000 transaction applications. There was even a buyer who applied for the purchase of 6.9 million BNT worth about $27 million. With reference to such transactions in the past, ICO often means that the Ethernet network is facing a huge transaction volume between the two, which will cause buyers to experience delays.
Due to network interruptions and delays, the company stated that the ICO's duration is much longer than expected. On the whole, it was completely delayed for 2 hours before it ended.
There are many users who complain on social media that the network delay of the transaction is too long. For example, on the news site Reddit, someone claimed that after sending a request to ICO's address, the transaction was canceled after a full 35 minutes. The cryptocurrency information network citicoins.com has also received quite a few similar messages.