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So simplest way to explain Bancor is to call them a Bank? Has reserves, liquidates over the counter & centralized control (for better or worse).
by laktek 9y ago
So simplest way to explain Bancor is to call them a Bank? Has reserves, liquidates over the counter & centralized control (for better or worse).
- dmix 9y agoThe analogy to banks is helpful but products should: A) explain what problem they are solving (what pain point they address) B) have an obvious target user. In this case: Why do I need a bank when using Ethereum? Is it a bank in the context of retail bank consumers as a storage/transfer mechanism or a bank for businesses? If I'm a business building a decentralized service building on top of Ethereum can I use Bancor to address a set of particular problems that are common among decentralized services? There's more to this than choosing a generic analogy.
- tylersmith 9y agoHow do you think it came to be called Bancor? It's a smart contract banker.