One of Ethereum's most famous decentralized applications (dApps) is now open at EOS. The objective is to extend monetary liquidity between the two platforms. This cross-channel product called Bancor X will streamline transfers between EOS and Ethereum tokens with some additional practical opportunities, such as no fees or faster transaction processes within a second.
The contributions of BancorX for both platforms
Initially, Bancor was a great success on Ethereum . The decentralized application allowed access to a large number of chips, and this by proposing a large monetary liquidity . This liquidity solution branched out to EOS through a partnership between the two platforms.
The extended application to EOS will not only provide inter-channel liquidity for users of both crypto-currencies but will also enhance the exchange processes. In the first place, Bancor X will conclude a transaction in one second , while on Ethereum this time could be up to 10 seconds. Secondly, the transactions will become free unlike the usual practices on Ethereum that could charge high fees during periods of congestion . Also, Bancor now encourages its users to try smart contracts as a test, like EOS Bounty.
The choice of EOS
With the multitude of platforms that currently exist, a handful of media have questioned such a choice. Bancor then retorted that his decision was mainly motivated by the principle of EOS and its operation that would bring increased fluidity through faster software than Ethereum.
On the other hand, the producers of EOS Blocks have the ability to reverse transactions, while having a similar operation to Ethereum. Although this practice is out of sync with what users expect from the Blockchain, similarity is a rallying point that drove the choice to EOS. The reversal of transactions can be decisive for this type of platform exposed to cyber attacks, which are increasingly impacting crypto-markets with a high volume of liquidity.
What do you think of this extension of Bancor X to EOS? React in the comments section.
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