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What is a Cross-Blockchain Conversion?

The Bancor Network operates its liquidity network and token conversion mechanism across multiple blockchains. This means that Bancor Wallet users can convert between any two tokens on the network — including tokens based on two different blockchains. A conversion of tokens across two different blockchains is referred to as a "Cross-Blockchain Conversion".

When initiating a Cross-Blockchain conversion, the user generates two separate transactions that will execute the conversion as follows:

 

First Transaction: Convert OriginatingToken to BNT and trigger a xTransfer transaction to move the BNT from your OriginatingBlockchain to the DestinationBlockchain.

 

Second Transaction: Convert from BNT to DestinationToken.

Both transactions need to be signed and executed in your Bancor wallet by you. Bancor transmits transactions in the order of execution and in a timely manner.

 

Potential issue:

Due to the time delay in transferring BNT across blockchains and the fact that every transaction is protected with a minimum return limit, there is a small chance that your second transaction will fail when attempting to execute. (i.e., when converting from BNT to DestinationToken.)

This means you will end up with the BNT value of the tokens you are trying to transfer. If this occurs you will be able to convert the BNT to any token on any blockchain that is part of the Bancor Network.

 

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Disclaimer: When reading this article, please keep in mind the following: (1) Important to notice that wherever referring to any sensitive information of yours, including private keys, key-pairs or other account information, that information is yours. We can only make limited suggestions to how such information may be treated and protected, but the responsibility is yours. You should always make sure your information is protected and kept private, in the best available way; (2) that the information contained herein is a simplified extract of detailed information and sources generally available on the internet. This basic information was collected and displayed in attempt to provide you with better understanding of certain processes and aspects which relate to content and applications on Bancor’s site. Although we do our best to keep this information up-to-date, we cannot always guaranty that. This is since the information originates from third parties or relates to third party services, applications and technologies (such as Metamask, Scatter, EOSToolkit, or EOS), which are unrelated or unaffiliated with Bancor. These third parties’ applications, services and technologies are available on the internet, and may be subjected to applicable terms and conditions. Accordingly, though the said information and third applications, services and technologies (“Third Parties Content”) are believed to be reliable, Bancor provides no warranties regarding them (including their accuracy or completeness). IN NO EVENT WILL BANCOR BE LIABLE FOR ANY SPECIAL, INDIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGES, INCLUDING, WITHOUT LIMITATION, LOST REVENUES, LOST PROFITS OR LOSS OF PROSPECTIVE ECONOMIC ADVANTAGE RESULTING FROM THE USE OF THE THIRD PARTIES CONTENT EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, OR FOR ANY CLAIM BY ANOTHER PARTY.

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