Bancor is an open-source blockchain protocol capable of converting tokens directly and instantly without going through an exchange platform.

Founded in August 2016, the Bancor protocol is a standard used to create cryptocurrencies with prebuilt convertibility with their smart contracts. This feature is also known as Smart Tokens. The Bancor Network is one of the first DEX (Decentralized Exchanges) which surfaced in the cryptocurrency arena. Bancor is an entirely decentralized platform that enables users to make instant trades without a third-party.