NewsBTC
Like a phoenix rising from the ashes, eFIN is back stronger than ever with new services and products that add value to a next-gen, decentralized ecosystem. Among several new use cases and products, eFIN is unveiling a tool that will increase the interoperability capabilities of the eFIN ecosystem, and help it become a one-stop decentralized exchange for all crypto asset trading needs.
eFIN is set to launch eFIN Bridge, a digital bridge between different blockchain networks on September 6, 2021. With this launch, eFIN will come one step closer to achieving true interoperability with low fees and greater rewards. eFIN Bridge, prior to the launch, has generated hype in the community because of its advanced capabilities. Here’s a quick look at what eFIN Bridge offers.
eFIN Bridge
eFIN has developed its native blockchain network on which eFIN operates. eFIN in itself is a custodial multisig solution that has native tokens and its BSC equivalents as WeFIN coins. But to provide the users with ease of use, eFIN has developed a bridge between eFIN native blockchain and Binance Smart Chain, turning the ecosystem into a multi-chain solution.
The eFIN Bridge ensures to-and-fro movement of digital assets between the two blockchains, and helps the users to take advantage of its native Bitcoin features and smart contracts on BSC simultaneously.
Another great use of eFIN Bridge is its scalability, allowing the ecosystem to use the Binance Bridge API to connect to more blockchains in the future with a small fee. Starting with the Ethereum Network, eFIN Bridge will create a 3-protocol token that will help boost its use cases. Besides the Ethereum Network, eFIN Bridge will also link with Bitcoin and Litecoin chains to become a universal bridge.
Upon the launch of eFIN Bridge, the capabilities of the eFIN Mobile wallet will also be optimized, giving the users the ability to store, trade, sell and buy their digital assets residing on different blockchains in a single place.
eFIN Bridge will open up several new use cases for the eFIN ecosystem including the ability to trade eFIN coins in the Binance Smart Chain. Users can simply wrap their eFIN coin to WeFIN coin using the eFIN Bridge, and then trade the WeFIN coins in the Binance Smart Chain.
Using the eFIN DEX will not charge users any cost. However, when users convert eFIN to WeFIN, they have to pay eFIN network fees; and if users convert WeFIN to eFIN, they have to pay gas fees.
Soon, the company will be unveiling its product, the eFIN Bridge, so stay tuned for more details!
eFIN Ecosystem
eFIN is a revolutionary platform that merges the boundaries of centralized finance and decentralized finance’s functionalities. The company achieves this using a focus-driven approach and a network of like-minded partners. eFIN is making the use of cryptocurrencies for daily payments more accessible, and promoting its mass adoption simultaneously.
eFin ecosystem is powered by its robust product set, including eFIN Bridge, eFIN Coin, eFIN DEX, eFIN Swap, eFIN Mobile Wallet and WeFin (Wrapped eFIN Coin).
via NewsBTC