The Dvision Network is bridged to the Binance Smart Chain
Enhancing Blockchain Interoperability and Addressing High Fees on the Ethereum Mainnet
The Dvision Network is an ultimate blockchain-based NFT metaverse platform. Dvision Network establishes a cutting-edge metaverse ecosystem, by utilizing its own VR technology, that helps to lower the entry barriers for all types of users across the globe. Therefore, it allows designers, enterprises and general users to dive into the most advanced metaverse experience.
Dear community members,
We are finally ready to announce that we will enable a bridge between the Ethereum Mainnet and the Binance Smart Chain. From now on, DVI ERC20 Tokens will be enabled in the form of BEP20 Tokens with multichain functionality supported by the bridge built in cooperation with Curvegrid. The Dvision Network will partially migrate to the Binance Smart Chain through the asset portal bridge “Looking Glass,” built on top of Curvegrid’s MultiBaas blockchain middleware. This will allow smooth and convenient cross-chain transfers of DVI as both BEP20 and ERC20 standards.
Why Binance Smart Chain?
Our decision to integrate with the Binance Smart Chain (BSC) is correlated to our vision and belief in BSC as an ecosystem that strives to unlock the next generation of decentralized applications. As you may all already know, the Binance Smart Chain is a highly scalable blockchain that supports smart contracts and Ethereum Virtual Machine programmability, featuring high TPS (transactions per second), and fast decentralized trading with low fees.
This integration will enable advanced smart contract capabilities and massive computation for the Dvision Network on top of the Binance Smart Chain. This will allow users to take advantage of its low fees and high throughput efficiency. In fact, BSC is now considered to be the largest ecosystem in the blockchain space and has outpaced the Ethereum Network in daily transaction volume. BSC recorded 9M daily transactions compared to an all-time high on Ethereum of 1.5M. BSC is destined to expand with the passage of time.
Ethereum and BSC Compatibility
It should be noted that the BEP20 DVI token will not replace the existing ERC20 DVI token. In fact, the two tokens’ smart contracts (BSC and Ethereum Mainnet) will co-exist and will power the interoperable bridge to move the tokens from one end to the other. Thus, Dvision will live on Ethereum as an ERC20 token and on Binance Smart Chain as a BEP20 token. This BSC bridge will open up new use cases for the DVI token (BEP20) and widen its exposure to the large BSC ecosystem.
As a matter of fact, the bridge has been built in close cooperation with the Curvegrid team. The Curvegrid team built an asset portal bridge enabled through Looking Glass, which was built on top of the MultiBaas. It connects the Ethereum mainnet with the Binance Smart Chain and therefore allows a smooth and convenient transfer of DVI tokens across both chains. The above dashboard is the user interface for the ERC20 = BEP20 transfer bridge, which is planned to go live in approximately one week.
Additional guidelines regarding the use cases of DVI on BSC will be shared later, right before the BEP20 = ERC20 DVI Bridge goes live on the Binance Smart Chain. Stay tuned for more news and updates! The new era of Dvision is about to start with the Binance Smart Chain and its ecosystem partners!