A blockchain bridge is a connection that allows the transfer of coins and tokens from one chain or network to another. Blockchain Bridge enables connectivity and interoperability between two different blockchains that operate under different consensus mechanisms. All coins have their blockchain. However, tokens are built on another chain’s blockchain. Bridges are needed so that people can easily access networks and interact with another chain’s decentralized applications.
XcelDefi (XLD) was first launched on Etherum Blockchain as an ERC-20 token but was later moved to the Binance Smart Chain as a BEP-20 token due to the high gas fee charged by the ethereum network. Also, in the Etherum network, the token that is bought is native to the ethereum network. It means if you buy a token on the Etherum network they give you the Etherum version of a token instead of the true version of the token.
Many users simply want to move digital assets from one chain to another and use dapps and other services more efficiently. So, XcelLab has launched XcelDefi Token Bridge.
Benefits of XcelDefi Token Bridge to the Users
XcelDefi Token Bridge will help holders of XcelDefi to reap the benefits of both Etherum and Binance Smart Chain.
The users from the Etherum network can access the data and resources available on the Binance Smart Chain network and vice versa.
Users can shift from an Etherum blockchain that charges high fees to a blockchain with lower fees for transactions.
Users can easily and securely execute dapps across both Etherum and Binance Smart Chain Blockchain.
The XcelDefi Bridge connects Ethereum blockchain to Binance Smart Chain. XcelDefi token holders can swap XcelDefi tokens across Ethereum and Binance Smart Chain network with ease using the XcelDefi Token Bridge. If you want to exchange the XLD ERC-20 token for the XLD BEP-20 token, here is the guide to lead you.
XcelDefi is appealing to the crypto community and has great future potential. Now is the best time to invest in and hold XcelDefi. Follow XcelDefi on Twitter, Medium, Facebook, Discord, LinkedIn, Telegram, and other social platforms.
Stay updated about different XcelDefi features and plans that are on the way!