Zap Protocol implements a cross-chain bridge for Binance Smart Chain and Ethereum
Zap Protocol is ecstatic to announce they have partnered with Multichain (previously Anyswap) to provide cross-chain services to ZAP token holders.
Zap Protocol decided to partner with Multichain, a trustless blockchain bridge, in order to preserve the ethos of decentralization. Using a bridge can garner reliance upon a centralized entity but Multichain is a bridge solution that employs an SMPC network that is composed of different organizations, institutions, and individuals that are independent and incentivized to validate transactions, just like a blockchain.
“The revolution will not be centralized” -Nick Spanos
Blockchains present a double-edged sword with their nature as closed networks. Despite being fluid and somewhat efficient as single entities, each blockchain has limitations due to its narrow scope. This commonly leads to high gas fees and congested networks.
A cross-chain bridge connects two independent blockchains and allows users to send crypto from one chain to another which helps solve one of the problems that those limitations cause. This works by locking the token in a smart contract and in return the user will receive an equal amount of the token they want to transfer it to.
In essence, the partnership will offer its users the ability to transfer ZAP between the Ethereum and Binance Smart Chain networks, seamlessly.
Zap Protocol desires to provide its users with the least amount of friction possible when navigating their ecosystem. They look forward to the future opportunities and mutually beneficial relationship that the partnership with Multichain will bring.
Official Social Channels
Medium: The Zap Project
GitHub: The Zap Project