30 Days of Jaxx, Day 19: Jaxx Announces the Addition of Bancor Network to the Jaxx Wallet
22nd September 2017 – Toronto
Bancor protocol enables anyone to create a new type of cryptocurrency called a Smart Token, which can hold (and trade) other cryptocurrencies. This allows the smart token’s contract to serve as its own market maker, automatically discovering its own price(s) and asynchronously providing liquidity to other currencies, thereby removing the need for a second party in cryptocurrency trades. Every smart token is continuously liquid at some price point. The Bancor token (BNT) is now live in Jaxx!
Bancor solves liquidity challenges for small cap, custom, lightly traded currencies, such as community currencies or small business loyalty points, as examples.
Anthony Di Iorio, CEO of Jaxx, likes what Bancor is doing, “Bancor drives the democratization and decentralization of user-generated currencies. Bancor is to value-creation as YouTube was to broadcasting. It’s an incredibly exciting project – Eyal and the Bancor team are a huge benefit to the blockchain and decentralized technology community. I’m excited that the team at Jaxx and I can support them.”
“Bancor is built to enable direct ownership and exchange of cryptocurrencies without relying on traditional market makers or synchronous matching of buyers and sellers. There could not be a more natural complement to each of our work than the Jaxx wallet, which also aims to empower users to hold their own tokens in a consumer friendly and decentralized way. Support from Anthony & the team at Decentral and Jaxx is important to our vision of ind ustry collaboration to enable mass end-user adoption of these important technologies.” said Eyal Hertzog, Co-Founder and Head of Product at Bancor.
Bancor is a protocol for the creation of Smart Tokens, a new standard for cryptocurrencies which are intrinsically exchangeable directly through their smart contracts. Bancor utilizes an innovative reserve method to enable automatic price discovery and continuous liquidity for tokens, without needing to match two parties in an exchange. Smart Tokens interconnect to form token liquidity networks, allowing user-generated cryptocurrencies to thrive.
Jaxx is a multi-token blockchain wallet that provides a unified experience across 9 platforms and devices including Windows, Apple and Linux desktops, Apple and Android mobile devices and tablets, as well as a Google Chrome extension. The Jaxx wallet enables crypto-to-crypto buying and selling with frictionless in-wallet conversion. Users are always in control of their keys and Jaxx neither holds nor has access to customer funds. Driven by design and user experience and built with simplicity in mind, Jaxx’s mission is to become the interface to the blockchain world.