FortKnoxster was developed on the foundation of the blockchain to provide extremely private end-to-end encryption techniques—all of these solutions are available in a unique communication platform, where users can communicate privately and safely, be it through the inbox, chat, phone/video calls, file-storage, etc.
FortKnoxster eliminates the risk of hacks, cyber-threats, and centralized government surveillance. However, there is more to it—FortKnoxster will also create a complete ecosystem with the help of FKX tokens and smart contracts on the Ethereum blockchain. These components are used to facilitate secure transactions of subscription services and incentives to participants.
Leading up to the public token generation event, starting 5/2–18, we have some exciting news, relevant to all users who want to take part in the FKX token sale: with help from the Bancor Protocol FortKnoxster will be able to provide continuous liquidity for its tokens.
What does this mean? By connecting to the Bancor Network, owners of the FKX Ethereum token will have the option to convert it to any other token in the network, with no counter-party, at an automatically calculated price, with the help of a simple web wallet. The Bancor-compliant Token Relay™ will launch within a week of the successful completion of the token sale, and hold up to 5% of circulating supply—allowing users to easily buy and sell FKX with numerous other tokens, directly through popular Web3 wallets.
Until the development of Bancor, this issue had significant impacts on the crypto market—due to the actual regulatory landscape, the delay between token generation and active listing on the traditional exchanges was continuously increasing. Indeed, progress in decentralized input exchanges is not at all to be neglected. However, the requirement for a counter-party with whom to trade still exists. And unfortunately, in many emerging community economies, these obstacles often can lead to illiquid markets.
Learn more about Bancor Protocol and Smart Tokens™
In addition to the information above, it is important to mention that the Bancor Protocol is a new standard for cryptocurrencies called Smart Tokens—tokens that are autonomously and continuously convertible to each other at algorithmically calculated rates.
The protocol standardizes the use of a "connector token," held as a balance in the Smart Token's smart contract, and used as a variable in the protocol's price setting formula.
The many advantages of implementing Bancor in different networks
Without a doubt, the significant benefit of using Bancor Protocolis the technical upgrade that permits tokens to be converted without matching two parties with opposite wants. Whatever the trade volume or the exchange listings are at a certain point, continuous liquidity is obtained—to reach this outcome, a simple formula that takes into consideration both buys and sells is used; in this way, every token in the network maintains a formulaic relationship to others. Let's have a quick look at the summarized benefits of using Bancor:
● Compatible with all tokens, regardless of their market value or trade volume