This news is an exciting development for the blockchain tech. The Bancor team went on to say in an announcement of BancorX, they “cannot wait to unleash the power of Bancor’s automated cross-chain liquidity on [the two] ecosystems, bridging two enormously powerful shared global infrastructures towards a growing and interoperable blockchain industry.” This is a great step forward for the new asset class of cryptocurrency. The start of cross-chain liquidity allows for even more flexibility for asset holders to cash-out their funds.
Further, industry experts suggest cross-chain capability will become a key component to the cryptocurrency sector’s growth in the coming years. The addition of cross-chains and sidechains to a blockchain network can vastly improve the network performance. Further, it can also decrease transaction times. These will be key components of cryptocurrency’s future success as scaling is pivotal for survival in the long term.
The newly deployed EOS system relies on LiquidEOS, a blockchain producer which was started through Bancor. This should become an important milestone in the Bancor Network as inter-network compatibility is an important aspect of the BNT project. Further, their new solution bridges the gap between the two of the biggest networks. This should help bring more folks to the BNT platform through it’s increased functionality.
Also announced today from Bancor, the Bprotocol Foundation will transfer $10 million worth of BNT from an Ethereum account to an EOS blockchain. This move seems to be an honest attempt at showing the security in the new cross-chain liquidity feature. Further, users are now allowed to test these cross-chain swaps for themselves utilizing the new BancorX feature. All and all, this presents an exciting new functionality for cryptocurrency assets. Cross-Chain Liquidity