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After Raising $153 Million on Ethereum, Bancor Expands to its Competitor EOS

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BancorX
Image by Bancor

Tel Aviv, 17th September 2018 – Bancor Announces BancorX, the First Cross-Blockchain Decentralized Liquidity Network as it Expands from Ethereum to EOS.

“We are thrilled to announce the coming expansion of the Bancor Protocol to EOS. Bancor has ported its public code to the EOS blockchain in preparation for the launch of its decentralized cross-blockchain liquidity network supporting Ethereum and EOS Main Nets” — BancorX.

EOS DAppsHaving initially built Bancor on the Ethereum blockchain, Bancor is now evolving into a cross-chain liquidity protocol starting with added support for EOS. Bancor will allow users to perform instant EOS-based token conversions against its automated smart contracts, also known as Relays. Relays give users an easy way to always buy and sell tokens without having to deposit funds on an exchange and without the need for order-matching between buyers and sellers. Anyone can create a Relay on EOS and connect it to Bancor’s liquidity network by staking tokens in a smart contract which they own and manage. The EOS-based tokens listed on Bancor will soon be instantly convertible to any Ethereum-based token through the Bancor Protocol.

For now, Bancor has released its open-source smart contracts on EOS as well as a simple user interface that processes EOS-based token conversions on the Test Net using Scatter, the most popular EOS web wallet. Projects can create a Relay on the EOS Test Net to automate the fair, low-cost and efficient trading of their token on EOS directly from their users’ wallets. Both the functionality and user interface are embeddable within any environment for projects seeking to integrate cross-chain automated trading into their platforms. The release also gives users a glimpse into the benefits of Bancor on EOS including:

  • 1-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 prioritised by gas fees as they are on Ethereum)

As the first and largest decentralised liquidity network, the Bancor Network has processed over $1.5 billion in token conversions in a little over a year since launching on Ethereum. Bancor has facilitated affordable and accessible liquidity for over 120 Ethereum-based token projects, who join the network with no listing fees. As some of the most promising blockchain projects launch on EOS to deliver speed and scalability to their users, Bancor is hard at work expanding its technologies for the EOS ecosystem and will soon announce the first EOS-based tokens to go live on BancorX. As is the case on Ethereum, projects pay zero listing fees to join the network.

Another way to get involved with Bancor on EOS is through our newly launched EOS bounty program. We encourage the community to take a deep dive into our code and uncover any issues in Bancor’s EOS smart contracts. Over 500,000 BNT is up for grabs for developers who improve the contracts or user interface.

Stay tuned for further details in coming weeks on how BancorX will function. We cannot wait to unleash the power of Bancor’s automated cross-chain liquidity across the EOS and Ethereum ecosystems, bridging two enormously powerful shared global infrastructures towards a growing and interoperable blockchain industry.

*Readers should do their own due diligence before taking any actions related to the company, product or service. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release.*

Press Releases

Xago Launches XRP Only Gateway And Exchange in South Africa

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XRP Gateway

Xago, a Cape Town-based fintech company, announced the launch of its Ripple gateway and custom-built exchange in South Africa. The exchange connects to and utilises RippleNet to trade, send and receive XRP only, the native digital asset used by Ripple.

XagoXago has built the exchange in order to create liquidity of XRP in South Africa, acting as the market-making platform for cryptocurrency enthusiasts and businesses that wish to trade with and utilise XRP and the Ripple Ledger. Due to the fast settlement between wallets, RippleNet is a viable option for transferring value between exchanges, reducing exposure to volatility.

Xago was founded by Jurgen Kuhnel (CEO), Sonya Kuhnel (COO) and Mark Chirnside (Chairman) in 2016 and incubated out of CiTi’s Bandwidth Barn in Woodstock thanks to Ian Merrington and his team. The company believes that blockchain technology, and in particular RippleNet, will play a critical role in transforming the payments industry.

‘By solving the double-spending problem the Bitcoin blockchain opened up digital peer-to-peer payments without the need for a trusted 3rd party through the process of mining. Ripple took this one step further and built a faster and more cost-effective decentralised ledger to compete in the high throughput and fast clearing retail and banking environments,’ says CEO Jurgen Kuhnel referring to their choice to specifically focus on Ripple and XRP.

Once the exchange has sufficient liquidity, Xago will launch its payment switch which connects to the retailers through their existing hardware and software systems. Where Xago is utilised, it will replace the need for acquirers and card networks for retailers, and with the use of RippleNet and XRP enable cross-border payments in the future. Consumers will be able to pay for goods and transact at the point of sale using only their mobile and mobile number, bypassing traditional payment rails.

Xago’s mobile number based identity system is built to connect mobile devices, the blockchain, and retailers in one seamless experience. Together with significantly lower transaction fees, the Xago platform is gearing to compete in the high stakes retail environment. This will enable clients to create new and innovative products that will ultimately benefit the end consumer.

Xago’s Chairman Mark Chirnside added, “This is no small step on the journey of Xago.io. With this launch and with the welcomed constructive approach we take with regulatory compliance and best practice, this platform holds the promise to reduce cost and friction, at a very interesting time in the payments arena. Personally I am honoured to be involved as an investor and as Chairman.”

In late 2018, the start-up received investment from African Technology Investments Ltd. It has spent the 1st half of 2019 setting up operations and engaging with the regulators and the broader ecosystem to build a best-in-class product that will not only add value to its clients but also comply with regulations going forward.

The start-up has a broader vision for payments across Africa and has plans to expand operations into other markets in the future. Kuhnel says, “In Africa, we have an opportunity to rethink the way money flows, what it costs and the time it takes to reach a destination. Mobile has shown us how important innovation is on our continent. We must build on this and continue to provide solutions that will benefit consumers in low to middle income countries who need it most, reducing the cost and friction of moving money is absolutely key.”

Disclaimer: Readers should do their own due diligence before taking any actions related to the company, product or service. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release.

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Press Releases

Join the Bitcoin & Crypto Trading Crash Course in Nairobi, Kenya on October 12

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Crypto Trading Crash Course

BitcoinKE is excited to announce its upcoming Bitcoin and Cryptocurrency Day Trading Crash Course on October 12, 2019, at Marble Hotel in central Nairobi.

Course Outline:

0) Brief Intro for beginners. (Defn of Terms)
1) Resource tools for Margin Trading
2) Software Set-Up & Configurations
3) Pre-market Analysis/Screening
4) Analysis: Based on Our Strategy
– Criteria to identify a viable setup
– Position Sizing/Risk Reward Calculations
– Entry/Exit
– Trade Management based on Market Generated Information

5) Psychological Management
6) Discord Trading Group (community)for consulting on setups/
research/learning from each other/ traders lounge and our daily banter
station

Bitcoin Trading Session

Bitcoin Trading Session at a recent event by www.bitcoinke.io

NB: This will be a marathon course as thereʼs a lot to cover, and we only have one day! You are advised to carry your laptops to follow along on the course.

Trading has a wide range of topics that will require that a beginner takes more time to learn and apply themselves in the market. This one-day seminar distills what we ourselves have learned over time, focusing on essentials of how we day trade.

Afterward, beginners will need to connect with us in our Tradersʼ Lounge Discord Server (free chat app) and follow up with more experienced traders in their daily trading.


At the end of the class, you should have the necessary skill set to get started as a trader. It’s a first-of-its-kind training that compresses 32 hrs of training into a 7-8hr session.

Location & Payment

The course is going for only Kshs. 2,500.

LOCATION: MARBLE ARCH HOTEL, CITY CENTER, NAIROBI

TIME: 8:00 AM – 5:0OPM

Lunch and Snacks will be served!

 

You can pay for the course below:

PAYMENT DETAILS:

VIA BANK DEPOSIT / MPESA

PAYBILL: 400200

ACCOUNT NO.: 01108170890000

SEND PAYMENT DETAILS VIA TEXT OR WHATSAPP TO: +254 721 783 420

 

VIA BITCOIN

BITCOIN ADDRESS: 17NBhX8NdMNxccF4vGd84g92AQXortxSkU

SEND TRANSACTION ID  VIA TEXT OR WHATSAPP TO: +254 721 783 420

 

Once payment is received, we shall send the relevant course materials before the day of the training.

Disclaimer: Readers should do their own due diligence before taking any actions related to the company, product or service. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release.

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Press Releases

Abuja Blockchain & Digital Assets Conference 2019 to Be Held on October 4-5

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Abuja Conference

All is now set for the successful hosting of the Abuja Blockchain & Digital Assets Conference 2019 at Sheraton Hotels Abuja on October 4 and 5, 2019. This is Nigeria’s premium hybrid Blockchain Conference of Value and Innovation, annually organized and curated by Blockchain Nigeria User Group, sub-set of Organization of Blockchain Technology User (OBTU), a pioneer group of enthusiast, developers and industry practitioners championing the adoption of Blockchain technology through education across Nigeria and Sub-Saharan Africa.

The conference will be chaired by Mr. Lawal J. Ahmed an Executive Director at Keystone Bank Plc. Prof Kingsley Mughalu, former UN Diplomat and a former Deputy Governor at CBN, is expected to grace the conference as the Lead Keynote Speaker.

Date: 4-5th October 2019 | Venue: Abuja Sheraton Hotels, Abuja Nigeria | Time: 10.00 AM

The agenda of this year’s conference is “The Blockchain Trust-Architecture for Governance and Public Service”.

At the upcoming #AbujaBlockchain2019, attendees will discover how Blockchain, Artificial Intelligence (AI), IoT, Big Data and Virtual Financial Assets are altering and disrupting incumbents and creating new opportunities for forwarding-thinking individuals, nations and organizations. As for government agencies, they will also discover how different countries are already utilizing the blockchain trust-architecture to increase public service delivery and improve citizen participation in governance.

Some of the expected Keynotes and Special Guest include Hon Femi Gbajabiamila (Speaker HoR Nigeria), Hon Solomon Adaelu, Member HoR, Chairman of Bi-Partisan Blockchain Group at the National Assembly, Dr. Isa Pantami, Hon Minister of Communications, Kashifu Inuwa Abdullahi, DG NITDA, Rakiya S. Mohammed- Director, Information Technology Department Central Bank of Nigeria (CBN), and Joshua Hawley, founder Blockchain Advisory Mauritius/ Co-Founder of Mauritius Ethereum Alliance.

Blockchain Nigeria User Group

The conference has three tracks consisting of Panel discussions, Innovative Tech product Exhibitions, and Blockchain4Good Hackathon, The hackathon is being supported by RadikalHub, IBM and Vite Labs. The event sponsors include Quanta, Kudi-Exchange, Jelurida Africa DLT, Bitfxt, Naija Crypto, Swipe and BFC International.

About 1000 participants are expected to be at the two-day event.

More information about the event is available at the event website: https://blockchainnigeria.group/

Disclaimer: Readers should do their own due diligence before taking any actions related to the company, product or service. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release.

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