• DeFiChain unveiled a new decentralized bridge — DeFiChain Bridge.
• The bridge connects to the BNB Chain of Binance.
• This bridge allows users to instantly swap tokens between chains.

DeFiChain has announced officially the creation of DeFiChain bridge, the cryptocurrency platform that runs on the network. DeFiChain and the BNB Chain of Binance can now be connected using this new decentralized bridge. DeFiChain Bridge allows for fast, safe, and inexpensive transactions between these two chains.

DeFiChain Bridge offers opportunities for arbitrageurs as well as staking optimizers, since it allows users to quickly swap tokens across the various chains. This method eliminates the complexities and irregularities of cross-chain transactions. DeFiChain would be able to gain new capital through the BNB Chain with this key feature. The platform also plans to launch a bridge directly to the BNB Chain in the next few months.

Dr. Daniel Cagara was the Project Owner for DeFiChain Bridge.

The BNB Chain makes it easier than ever to join the DeFiChain community. Now it’s possible for the BNB Chain investors to access DeFiChain’s high rewards and decentralized stocks. This allows you to reap the rewards of both without having to use centralized exchanges or go through the lengthy process of setting up credentials and accounts.

DFI in DeFiChain can be used as a bridge token for assets transfer between both chains. This allows users to secure native DFI from the DeFiChain as well as mint wrapped DFI from the BNB Chain. Wrapped DFIs are able to be converted into BNB, or other assets. The wrapped DFI must be burned by the user to transfer tokens from DeFiChain to BNB Chain and receive native DFI from DeFiChain. Because the whole process is distributed, it’s impossible to control its funds.

DeFiChain does not currently have any wrapped BNB token. It is impossible to swap BNB tokens to dBNB. DeFiChain can make composite swaps, if there are more DeFiChain bridge adoptions. The swap is made possible by the ability to convert BNB to DBNB, and ETH into dETH.

DeFiChain Bridge, in particular, is intended to decrease the vulnerability of potential exploits. Its cryptography is dependent on Binance’s Threshold Signature Scheme, (TSS), that replaces any private keys built on commands with distributed computations. Binance audits the used libraries several times.

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