The decentralized application on the ethereum blockchain is expanding to the EOS blockchain.
Initially, the crypto platform Bancor provided the exchange of ERC20 standard tokens on the ethereum blockchain directly with each other, bypassing the crypto exchanges. This increased liquidity in the market of the ethereum (ETH/USD) tokens, eliminated commission fees and lowered the cost of users during the exchange. Now, Bancor will provide similar opportunities on the EOS blockchain.
A new cross-chain product called BancorX will allow users to exchange between selected EOS tokens, whose list has not yet been approved, and EOS / Ethereum tokens. The launch date of the instrument in the main EOS blockchain has not yet been approved.
WHY IS IT IMPORTANT?
- The crypto platform Bancor allows users to create their own tokens and exchange them within the framework of the platform to others directly from their wallets bypassing the crypto exchanges.
- Explaining the reasons for the decision to launch on the EOS blockchain, Bancor refers to its speed of operation, which is higher than that of ethereum, as well as the absence of commissions.