The Bprotocol Foundation, a foundation based in Switzerland, established in 2017, is responsible for Bancor Coin development. The main objective of the foundation is to develop the protocol as a global standard for smart tokens. The team consists of several entrepreneurs with years of experience in Internet technology and venture capital.
Bancor launched one of the largest ICOs to date, proving how successful ICOs can be in financing projects. Through the ICO in June 2017, the company raised $156 million, 390,000 of which was in ether, a record at that time. Since then, the price has doubled.
Bancor Coin advantages and disadvantages
The application possibilities are immense. Many crypto currencies are already based on the ERC20 token. The protocol makes it even easier to create new crypto currencies. This practice could thus become accessible to the general public or at least to companies that otherwise do not want to specialize in blockchain technology. The great potential lies in crowdfounding via ICOs. So far, block chains with initial coin offerings have mostly financed themselves. Through the BNT Coin, all possible companies and organizations can use Initial Coin Offerings to finance their projects.
A huge advantage is that all these tokens are ultimately based on the BNT crypto currency. Thus the tokens purchased to finance a project can simply be converted into other tokens using the wallet. According to the ICO, the tokens do not lose value because they have fulfilled their purpose. At the same time, the coin also has ether as a reserve. If you are not satisfied with buying the Ban/cor coin, you can convert the coins at any time and buy one of many other coins with ether.
As a disadvantage one could see the relatively high price. Buying a Bancor coin is not as cheap as many other crypto currencies. But this also shows the high potential of the network and the confidence of investors.
Bancor Coin Price – Development – Forecast
The Bancor share price started at between 2 and 3 euros per coin on the stock exchanges in June 2017. Thereafter, the price fell steadily in value, so that it fell to below 2 euros in July. In August, it still reached values of over 2 euros, after which the price fell back to the level of July and remained there for several months.
A change in the price began in November 2017, when the coin rose again to over 2 euros per coin. In December, the BNT coin was available for over 3 euros, the crypto currency even quoted over 4 euros at the end of the year. In January the coin jumped to 8 Euro within a few days and reached its highest level so far. Thereafter the coin lost value again, but this has not yet fallen below the previous year’s level.
So far the BNT coin seems to have followed the general developments on the crypto market. This makes it difficult to predict what the price will look like in the future. However, the high value of the coin is noticeable. The stock markets seem to have recognised the potential of the BNT coin and are prepared to invest in it. Ultimately, the development is not yet complete. Before that happens, it might be worth buying the Bancor Coin.