“If you are not networking, you’re not working” -Denis Waitley
Social network has drastically changed political discourse and public engagement, with politicians going where the audience is, while people try to find a balance between filtering and plurality of opinions.
Having a well-established network has become an important part of our lives. The easiest way to expand your network is to build on the relationships with people you know; family, friends, classmates, colleagues and acquaintance’s. Actually, we are all expanding our networks daily.
When businesses use social media channels in a creative and clever ways, they can expect to yield incredibly positive results. Take a look at Medium, a network that is simple to use and share unique content. A new and innovative social platforms are the ones to look out for and assess to see if they are relevant to your audience and business.
Networking brings opportunities, assistance and positive influence.
Social networking establishes interconnected online communities (sometimes known as social graphs) that help people make contacts that would be good for them to know, but that they would be unlikely to have met otherwise.
The Network of Cryptocurrency
Cryptocurrency is digital currency which uses cryptography to create new units of the currency and to secure and manage all transactions. There is one distinct similarity between fiat currencies and cryptocurrencies: Just as fiat currencies can be used as a currency in many cases outside their country of origin, so too, cryptocurrencies can be exchanged in any transaction completely.
There are many other cryptocurrencies besides Bitcoin. They are all created by and used within other computer software platforms that utilize similar blockchain technology. The most notable examples are: Ethereum, Bitcoin Cash and Bancor. Currently there are thousands of active cryptocurrencies and more being created each month.
In the era of Web 2.0, we witnessed how millions of blogs and millions of videos being organized by major social networks like Blogger or YouTube. If Blogger or YouTube were never born, those millions blogs and videos would never exist since no one will ever read or watched them, it is just impossible to do!
The same thing happens to cryptocurrency, which still on it’s early days of development and tech adoption.
In today’s cryptocurrency exchange, we can only trade cryptocurrencies with pair of Bitcoin (BTC), Ethereum (ETH) and Fiat Money. While there are thousands of cryptocurrencies out there, it is still impossible to trade between those currencies.
The Bancor Protocol™ tries to connect all cryptocurrencies in one platform just like what YouTube did with millions of video contents around the world. The Bancor Protocol™ is the method by which a cryptographic token is related to another. The source token is a “Smart Token™” and its related token is called a “Connector”.
A collection of Smart Tokens™ that use the same Connector form a network of tokens. The common Connector can be described as a “Network Token.” Since every token in the network is convertible to and from the Network Token (the common Connector), it is possible to convert between any two other.
Network Tokens can be useful for those who wish to create multiple and related Smart Tokens™ for different purposes (e.g. regional network of community currencies, a video game studio with multiple game credits, a group of independent businesses issuing a joint loyalty program). The Network Token model creates synergetic relationships between the member Smart Tokens™, comparable to the way any single successful Ethereum service can increase the utility and value of the Ethereum protocol itself. An additional Network Token use-case is to interlink a set of Token Relays, each holding the Network Token as one of their Connectors and a second, standard token as the second Connector. This structure would enable converting any token in the network to another. For example, by holding the BNT Network Token as one of the Connectors in each Token Relay in the Bancor Decentralized Liquidity Network, all Token Relays and Connectors (which can be any standard ERC20 token) and all Smart Tokens™ using the BNT Connector are convertible for each other and for BNT at the formulaically determined rates.
By addressing the unsolved problems of liquidity and interoperability in blockchain networks, Bancor allows any token to convert to any other via a transparent, automated formula that increases liquidity and stability.
