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BancorX Brings Inter-blockchain Communication To EOS and Ethereum

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Announced in a Medium post, LiquidEOS alongside Bancor are launching BancorX, a cross-chain liquidity network bridging between EOS and Ethereum.

Traders are able to migrate their Bancor BNT tokens in between the Ethereum and EOS blockchain with instant conversion done by the BancorX Dapp.

Eyal Hertzog, Bancor’s Co-founder and Product Architect, revealed details about the system’s architecture: “BancorX is based on the ability to move BNT — Bancor’s Network Token — between blockchains. This cross-chain functionality increases the utility of BNT as an inter-network token, connecting the EOS and Ethereum ecosystems today, and vastly more blockchains in the future.”

 

Bancor cited that the unique features of the EOS blockchain make it a great expansion to their liquidity pool and trading Dapp.

  • One-second transactions (as opposed to > 10 seconds on Ethereum)
  • No transaction fees (as opposed to gas on Ethereum which can reach upwards of $50)
  • No front-running risk (EOS transactions are not prioritized by gas fees as they are on Ethereum)

Bancor is unlike a traditional DEX or exchange as its liquidity network allows users to convert tokens frictionlessly without the need to find a counterparty for trade. There are no orders books for buying and selling, Bancor uses transparent algorithms and automated deposits to manage liquidity and enable continuous conversion of one asset into another

Bancor has now brought this liquidity network to the EOS blockchain and users can trade their EOS coins for a variety of EOS based tokens, popular EOS projects BetDice(DICE), Everipedia (IQ), MEET.ONE (MEET) and Chaince (CET) are among the first to be available with instant liquidity on the EOS version of Bancor, which users can access instantly via the EOS Scatter wallet.

You can instantly convert EOS based tokens using Bancors liquidity pool here: https://eos.bancor.network/
You can instantly convert Bancors BNT token between EOS and Ethereum here: https://x.bancor.network/

 

Dapps

Betdice EOS Dapp See’s 1 Million EOS Volume On New Baccarat Game In 24 Hours

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It’s no doubt that Betdice has become the most popular Dapp on the EOS platform.

With 2,833 users accounting for the 6,331,609.86 EOS gambled on their platform in the last 24 hours, 1 million of those EOS bets were placed on their new Baccarat game.

`While we wait for the rise of mainstream Dapps that bring in the everyday user, the EOS-based gambling Dapps have exploded in popularity accounting for the majority of EOS Dapp usage according to data from Dapp Radar.

Betdice offers gamblers a variety of games such as dice, baccarat and lotto that can be played with EOS and multiple EOS Tokens such as Meet One, Black, BT and others.

They even have a built-in exchange where players can trade their native Dice token.

You can read more about the baccarat game’s rules in a Medium post by Betdice.

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