The EOS.IO blockchain is progressively expanding its brand with new collaborations. A week after announcing the first high-performance decentralized exchange with Bitfinex, EOS’s creator Block.one is announcing a partnership with Bancor to simplify token creation and exchange. Together they want to allow anyone to easily create standardized token contracts and to hold and trade them securely without any intermediaries.
Available only on the Ethereum blockchain, Bancor intends to cross-chain its decentralized liquidity network to realize its vision of enabling the long-tail of user-generated tokens to emerge. The Bancor Protocol enables users to easily convert between tokens. By making token creation and exchange an efficient, automated, low-cost service, a value can flow more freely through decentralized networks. By building community-based security protocols, such as delegating account recovery privileges to friends and family, users can safely explore new technologies knowing they will be protected.
Block.one’s vision is to create the most secure, accessible and collaborative blockchain in order to facilitate mass adoption of decentralized technologies. EOS.IO is an open-source platform designed to support Decentralized Autonomous Communities (DACs) and allow for the mainstream adoption of blockchain technology. Through this collaboration, the Bancor Protocol will be implemented on EOS.IO, scheduled for release in June 2018.
Dan Larimar, CTO of Block.one, commented: “We see the Bancor Protocol as an elegant solution for liquidity that benefits all token holders by offering a completely new paradigm for value exchange based on efficiently automated market makers, powered by auditable smart contracts. This is the future of fair, low cost and predictable value exchange, and we’re excited to bring these benefits to the EOS.IO community.”
Eyal Hertzog, Product Architect of Bancor, added: “EOS.IO represents the next generation of smart contract blockchain technologies that will effectively address serious user adoption concerns such as fees, scalability, security and customizable governance. We share the vision of seeing blockchain technologies adopted by the general public, and greatly look forward to expanding the Bancor decentralized liquidity network to support EOS users all over the world.”
The teams recently met to outline the details of a cooperation and prototype the smart contract configurations for implementing Bancor’s Smart Token standard on EOS.IO, having released the sample code to the public to demonstrate the direction of the Bancor Protocol native to EOS.IO blockchains.