The leading blockchain Virtual Reality (VR) Metaverse platform Dvision Network is set to migrate to the Binance Smart Chain network through the cross-chain bridge. Dvision Network has changed the blockchain space by offering users an ecosystem that encompasses NFTs and virtual reality. The migration to Binance Smart Chain could prove to be a masterstroke by the cutting-edge NFT Metaverse platform.
Binance Smart Chain Offers Wide Range of Possibilities
Dvision has already announced their readiness to launch on BSC in their blog post and also started a countdown in their website, which pinpoints to the official launch of the bridge on 20th May.
Currently, Dvision Network is based on the Ethereum network, and despite the popularity of Ethereum, it has been plagued by significant problems. Ethereum current architecture is not readily scalable, which has led to congestion on its network leading to high transaction fees.
This problem is quite crucial for Dvision Network, set to launch an NFT marketplace in 2021. Binance Smart Chain has emerged as an alternative to Ethereum and has attracted the crypto community since its launch in the second half of 2020.
Binance Smart Chain is designed to be scalable and crucially offers low transaction fees with the same efficiency as Ethereum. BSC has overtaken Ethereum to become the largest ecosystem in the blockchain industry and outpaces its rival transaction volume. Also, BSC is compatible with the popular Ethereum Virtual Machine, making it easy to migrate projects from Ethereum to Binance.
Several ethereum projects have begun to migrate to BSC. Dvision Network is seeking to expand its ecosystem with the migration to Binance Smart Chain.
Dvision Network to Offer BEP-20 DVI Token
One of the major ways that Dvision Network wants to leverage the Binance Smart Chain is by launching a BEP-20 version of DVI Token. The token will have similar functionality to the current ERC20 token and allow users to access features within the BSC ecosystem. DVI holders will be able to stake the BEP-20 tokens to earn yields and make swaps on popular BSC exchange PancakeSwap.
The highly scalable nature of BSC means that Dvision can build Dapps and other products within a blockchain that has quick confirmation times and low transaction fees. BSC community will also be able to access a decentralized virtual reality world and enjoy the benefits of purchasing virtual space using the DVI BEP-20 Tokens.
To further ensure interoperability between the two blockchain networks, Dvision Network has built a cross-chain bridge in cooperation with Curvegrid. The Bridge is built on Cuvergrid’s MultiBaas blockchain allowing smooth and convenient swaps of DVI from BEP20 to ERC20 and vice-versa.
With this Bridge, it will be easy for DVI holders to swap their tokens between the blockchains to take advantage of features. The cross-chain Bridge is intuitive and allows anyone to swap between the two tokens within a few steps.
More Developments for Dvision Network
Dvision Network team is still working on a number of products that are expected to be launched during the Q2-Q3 2021. One of these products is the highly anticipated NFT exchange system expected to herald the development of NFTs on its platform.
Dvision is regarded as one of the innovative blockchain platforms and recently auctioned a limited release of NFT characters. Its native token DVI has also been listed on top platforms like Bithumb and Coinone in recent months.
The migration to the BSC ecosystem could prove to be a major game-changer for the platform in its quest for adoption.