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Ethereum

New bridge connects Binance Smart Chain tokens and NFTs to Ethereum and Solana

by Miki 10/15/2021
by Miki 10/15/2021 0 comment
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Wormhole, the interoperability protocol that facilitates any type of data to be passed between different networks, announced the addition of Binance Smart Chain (BSC) support to its already existing ETH <> SOL token and NFT bridge. 

Now, with more than $200 million in total value locked (TVL) in the protocol from its Solana and Ethereum token and NFT bridges, Wormhole V2 is expanding the network’s reach to one of the most vibrant DeFi and NFT ecosystems in crypto.

The demand for cross-chain bridges for digital asset swaps and liquidity is at an all-time high, with adoption increasing as DeFi and NFT markets continue to generate revenue in the space, and TVs in the top five blockchains hit $185+ billion. 

To meet these demands, Wormhole previously launched ETH <> SOL support for both token and NFT bridging, with over 100 NFTs locked into the protocol.

Burgeoning BSC network sees a way to Ethereum and Solana

BSC, one of the most robust DeFi ecosystems for retail users, processed ten times the amount of transactions as Ethereum last month. 

With BSC now supported via Wormhole, projects and users in the Solana and Ethereum ecosystems now have the ability to move wrapped tokens seamlessly between all three supported chains, with more networks expected to be onboarding in the coming weeks.

“Interoperability through the Wormhole network benefits users and projects in each ecosystem by providing access to the highest value aspects of all the other supporting ecosystems,” said Hendrik Hofstadt, Director Special Projects at Jump Crypto and former co-founder of Certus One, the lead contributor to Wormhole. 

“The addition of BSC provides access to its large base of users and applications across its DeFi and NFT ecosystems, which will add an exciting element to the Wormhole network,” he added.

Wormhole may be the only interoperability protocol to support multi-directional NFT bridging across ETH <> BSC <> SOL NFT bridge, connecting creators and artists through its multi-directional highway to move NFTs cross-chain between the ecosystems. 

This bridge will give the BSC network’s 470,000 blockchain gamers the ability to create new markets for in-game assets on the native Ethereum blockchain or bring them to Solana NFT marketplaces.

Wormhole’s generic architecture facilitates the passing of any message across the chain allowing for cross-chain governance, liquid staking tokens, and access to oracle data.

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The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

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      12/28/2021

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      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

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      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

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