pNetwork has announced a new partnership with Binance to connect the Binance Smart Chain (BSC) to Ethereum.
In fact, pNetwork is a cross-chain platform that allows assets and non-Fungible-Tokens (NFTs) to move freely between blockchains, and thanks to this collaboration it will be possible to bring NFTs on the Binance Smart Chain.
BSC will support both Ethereum-based NFTs and ERC-20 tokens that are 1:1 anchored to the underlying native versions of major cryptocurrencies, making them transparently transferable from one blockchain to another.
pNetwork powers many cross-chain connections in the crypto industry, enabling for example the tokenization and transfer of major cryptocurrencies within the DeFi ecosystem. BSC, on the other hand, is an Ethereum Virtual Machine (EVM)-compatible smart contract blockchain, creating a fast and cost-effective environment for developing high-performance decentralized applications.
These BSC-based dApps will extend their usability and accessibility to cryptocurrencies supported by pNetwork, such as BTC, LTC, DOGE, and many ERC-20 tokens, as well as opening up to the burgeoning NFT ecosystem.
The goal is to support the growth and development of dApps such as lending platforms, games, decentralized exchanges and more.
pNetwork on Binance Smart Chain from February
The first application of the new collaboration will be operational in February, and will be implemented to enable the frictionless transfer of Ethereum-based NFTs on Binance Smart Chain.
The CEO of Binance, Changpeng CZ Zhao, said:
“The Binance Smart Chain brings a number of leading features to the blockchain space, being optimized for high-throughput as well as providing smart contract functionalities. pNetwork has created a valuable, frictionless, and secure bridge for the Binance Smart Chain to connect with other blockchains. In line with our goal of building an ecosystem where powerful decentralized dApps can flourish, we are collaborating with pNetwork to embrace the trend of digital economies becoming more interconnected”.
The Project Lead at pNetwork, Thomas Bertani, added:
“We aim to advance the blockchain industry by connecting innovative dApps with the entire market”.