Ethereum Based Platform 'Dvision Network', Migrates to Binance Smart Chain
Evening
Ethereum based VR content ecosystem Dvision has announced migration to Binance Smart Chain(BSC) using a cross chain bridge on May, 20th. The asset portal bridge called 'Looking Glass' developed on top of Curvegrid’s MultiBaas blockchain middleware will enable smooth cross chain swaps of DVI's(Dvision's native token) ERC-20 and BEP-20 versions.
Dvision's decision to partially migrate stems from BSC ability to offer high scalability, compatibility and with minimal transaction fees in comparison to Ethereum. This will allow Dvision to leverage advanced smart contract functionalities and immense computation on top of BSC, allowing it to develop Dapps and other functionalities offered at a fractional cost.
Instead of complete transfer to BCS, Ethereum side of Dvision will also be retained. Apparently, Dvision is taking a more cautious approach, as it want's to test BCS waters before permanently saying goodbye to Ethereum.
BSC has been a huge success so far, putting aside the recent hacks and rug pulls. It might be the largest blockchain ecosystem, with it highest daily no of transactions reaching 9 million, eclipsing Ethereum's 1.5 million transactions. And the transaction cost remained just a few cents even on peak network load.
However, there have been apprehensions about BSC being centralized and less secure as it utilizes 21 daily selected validators in contrast to huge validators on Ethereum. Regardless of the centralization and security concerns, plethora of new platforms have been emerging and many existing platforms are gearing up for migration to BSC. Last week, DeFi Oracle Umbrella Network and Tron based protocol Centric also announced migration to BSC.
Fingers Crossed!!!
Posted Using LeoFinance Beta