This never before offered facility, according to Bancor’s media release, lays the path for “vastly more blockchains” to be offered in such cross-blockchain trading.
Commenting on the facility, Galia Benartzi, Bancor co-founder and head of business development, said “The ability to easily convert assets cross-chain points to a future in which token projects and users are empowered to seamlessly interact with any blockchain which best suits their needs.”
BancorX presently offers support to a list of Ethereum ERC20 tokens, and utilizes its native BNT token to perform the cross-blockchain transfers. The firm also announced that their cross-blockchain DApp was created in collaboration with LiquidEOS, Bancor’s EOS “Block Producer” (BP) – similar to a miner on the Bitcoin (BTC) blockchain network.
While making the announcement, Bancor revealed that its Bprotocol Foundation would move $10 million in value to the EOS blockchain using the mechanism to “encourage EOS development and token liquidity, in addition to serving as a symbol of faith in the security and promise of the EOS blockchain.”
So far, at the time of writing this article, BNT has not reacted in a big way, after facing a trouble year in which Bancor turned out to be one of the worst-performing Initial Coin Offering (ICO) projects that was launched in 2017.