EOS and Ethereum United by Bancor’s New Wallet
Bancor, an on-chain liquidity protocol has today released the Bancor Wallet that unifies EOS and Ethereum based tokens in order to create a seamless user experience and catalyze cross-chain adoption of decentralized applications built on these two blockchains.
The goal of the Bancor team is to create an easy and fast onboarding process, seamless interaction with the blockchain as well as the liquidity of more than 9700 token pairs and a fee-less conversion of tokens.
Currently, Bancor.network gives users the possibility to use the network making a login from a mobile phone or Telegram, Messenger or WeChat but the new Bancor Wallet provides users with a free EOS account and enough EOS resources (CPU, RAM etc.) to get started using the blockchain.
The difference between other custodian wallets like the one of Coinbase is that the Bancor Wallet users are in control of their keys and funds at all times and there’s no third parties involved. Even if the Bancor.network goes offline, the users can still access and transfer their funds at all times.
Bancor has recently launched BancorX that ensures the continuous liquidity pools using automated market makers to price and which process transactions without order books or counter-parties. Thanks to this ability and to the new Bancor Wallet users can convert and transfer any token which is present on the network.
Currently, there are ERC20 tokens like DAI (Maker Dao), BNB (Binance) or BAT (Basic Attention Token), ENJ (Enjin) as well as EOS-based tokens like IQ (Everipedia), DICE, BLACK (eosBLACK), SENSE, WAX and many more.
Additionally, Bancor.network permits for addition of any EOS or Ethereum based token. This opens the door to the many EOS based dapps who only need to stake an amount of their tokens and BNT in a smart contract managed by the user.
Ethereum blockchain union with EOS through the Bancor Wallet is just the first step as Bancor plans to integrate more chains in order. BNT (the Bancor Network Token) is the bridge through which these non-custodial cross-chain conversions can occur.
“Bancor is building towards a world where wallets function seamlessly between dApps on different blockchains, just as browsers allow for seamless surfing between websites,” said Eyal Herzog, Bancor’s Co-Founder and Product Architect.
“This is the next step in Bancor becoming a cross-chain network and abstracting away the blockchain experience in favor of frictionless token conversions and management,” Herzog added. “Bancor’s aim is to offer a simple way to use your wallet on multiple blockchains, with intuitive token management and built-in conversions cross-chain, allowing users to more easily share value between the dApps they love.”
Core Features of Bancor’s Unified Wallet
While EOS users will get a free account with resources to start with, Ethereum users can import any ERC20 wallet. The new Bancor Wallet permits to buy ETH with a credit card and convert it for other ERC20 or EOS tokens in the Bancor.network.
Bancor’s Unified Wallet is active on any mobile browser (iOS, Android) or desktop browser and it also provides built-in resources management and soon it will also enable its users with a dapp browser.
The EOS TORCH has been passed today to the initiative has been reviewed for once the blockchain community, and it was passed to liquidbancor
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