Evening
Leading Ethereum wallet application, MyEtherWallet has announced the launch of a bridge to integrate with Binance Smart Chain. The bridge would allow MyEtherWallet users to move their asset across the two blockchains(Ethereum and Binance Smart Chain) and enjoy best of the both worlds.
Kosala Hemachandra, the founder and CEO of MyEtherWallet said:
More ways to interact with your digital assets is how the Ethereum ecosystem grows. For us, although we began as the original wallet interface for Ethereum, we view multi-chain development as an important way to increase accessibility to the rich ecosystem of Ether and DeFi.
Thousand of new decentralized finance (DeFi) applications are surfacing on the Binance Smart Chain, offering customers variety of financial services like borrowing, staking, yield farming etc., much more economically and faster than Ethereum. Ethereum's skyrocketing gas fees and network congestion makes is unsuitable for a variety of defi transactions. Although the upcoming Eth 2.0 promises to solve the issue, but until than it seems Binance Smart Chain is going be the go to chain for the defi world.
And it seems MyEtherWallet doesn't wanna miss out on the fun and hence linkage to Binance Smart Chain. Bridging will allow MyEtherWallet users to quickly swap assets to Binance Smart Chain and have access to BSC's diverse and fast growing defi world.
