The latest upgrades from Beldex integrates cross-chain interoperability with the Binance Smart Chain to allow users to leverage the BSC ecosystem with Wrapped BDX (WBDX).
— The Beldex team, led by Chairman Mr. Afanddy Bin Hushni, announces the launch of the first cross-chain integration on the Beldex chain. The Beldex blockchain is bridged bidirectionally to the Binance Smart Chain network, an ecosystem that supports 180 different blockchain projects. BDX is now available as WBDX, a BEP20 token on the Binance Smart Chain network. By bridging to the Binance chain ecosystem, Beldex aims to provide faster on-chain transactions to its users. WBDX transactions will be faster as they leverage the 3 second block time of the BSC network.
To celebrate the launch of the Beldex-Binance Smart Chain bridge, the Beldex team has announced giveaways worth 2500 WBDX on Twitter. 5 lucky users who follow @Beldexcoin, retweet this post, and tag their favorite crypto influencer will each get 500 WBDX as rewards.
“This upgrade helps the blockchain ecosystems connect with each other and develop as a whole. Users can now swap BDX for WBDX with the Beldex-Binance Bridge. This bidirectional swap enables the two-way migration of tokens,” says their CTO who goes by the alias codeman-crypto. The team also says that this upgrade gives BDX users greater flexibility and exposure to platforms on the BSC eco. The WBDX tokens will be generated on a 1:1 ratio, which means for every WBDX token, there will exist an equivalent BDX coin. Though WBDX won’t retain the privacy features of BDX, it will gain increased utility on BSC platforms.
Beldex Chairman Afanddy Bin Hushni says that the Binance Chain offers “flexibility, scalability, interoperability, and a huge community to Beldex. Though Binance Smart Chain is not the only chain Beldex will be bridging to, it is one of the most significant in the industry right now. Beldex plans to bridge to other ecosystems soon, as multi-chain integration has become a necessity.”
Blockchain interoperability is becoming vital across the industry more than before, a trend spurred by self-sustaining decentralized protocols. The future of the industry starkly depends on independent and decentralized blockchains working together, to collaborate and share information. Thus, centralized ecosystems also look towards decentralization in an effort to stay true to the decentralized ethos of the blockchain.
With the Beldex-Binance bridge, the Binance Smart Chain community is exposed to Beldex (BDX) while the Beldex community can leverage the many platforms on the Binance Smart Chain network with WBDX. In addition, users get to experience decentralized swaps, as the team says that WBDX will be listed on PancakeSwap soon. WBDX can be store on Binance Smart Chain Wallet, Metamask, Trustwallet, and any wallet that supports BEP20 tokens.
Beldex International Inc. is a Seychelles-based company with the sole vision to develop user-friendly private DApps for the next generation of the internet. The Beldex chain allows the peer-to-peer anonymous transfer of the BDX using a POW consensus algorithm. The Beldex team is reportedly migrating the network to a full proof-of-stake (POS) consensus algorithm, and the POS testnet will be launch by Q2, 2021. To provide cross-chain interoperability, the team has also announced bridging the Beldex (BDX) network to the Ethereum and Polkadot chains, in its roadmap.
About Binance Smart Chain
Binance Smart Chain is one of the two parallel blockchains along with the Binance Chain that is decentralizing and securing other blockchain projects, in essence, creating a vast ecosystem for users to engage with, in a safe manner.
Release ID: 89021178