Thanks to new features added to the Bytecoin platform, users will now be able to launch their own BCN based gateways to their blockchains. The foundation of this initiative was laid out by the launch of the“Amethyst” v.3.4.0 Beta in December 2018, in which users were given the option of using auditable wallets.
This technology, unique for CryptoNote-based cryptocurrencies, could potentially open a realm of benefits for anyone looking to bridge BCN with another blockchain.
So what Blockchain bridging?
This is a process that lets the digital assets with veritable new dimension of capabilities. For this, a bridge is made that is immutably linking a set amount of one asset to equivalent amount of another asset on different blockchain.
This link is made through smart contract which maintains units of two assets share an original base value. At the same time, it allows for establishment of gateway interface.
This opens doors for new asset and in the end of this transfiguration of one asset in another form on another blcokchain.
So what does this mean for the Bytecoin community?
This will not only induce growth via cross chain expansion and augmentation of presence but also trading convenience.
January 25, 2019
| Bytecoin News