Custom-Built Bridge Enables Token Trading Across All Three Blockchains
SINGAPORE / ACCESSWIRE / July 1, 2021 / FINXFLO, the world’s first hybrid DeFi/CeFi liquidity aggregator, announced today that their FXF token is now tradable on the TRON network. FINXFLO’s custom-built bridge will enable holders of the FXF token to trade across BSC, Ethereum and TRON blockchains, effective immediately.
The FXF token is now tradable on TRON network, giving users access to ~95% cheaper gas fees than on ETH.
TRON’s open, decentralized platform and distributed storage technology TRON allows for the creation of decentralized applications (dApps), while simultaneously building a global digital content entertainment system.
‘We’re incredibly excited to offer cross-chain trading access to FXF traders,’ commented James Gillingham, CEO of FINXFLO. ‘TRON is one of the largest blockchain-based operating systems in the world with high-throughput, high-scalability and high-availability. The FXF token deployed on TRON network is fully TRC20-compliant and it is fully compatible with the Ethereum network.’
TRON’s proof-of-stake handles high throughput
Until proof-of-stake upgrades promised in Ethereum 2.0, the Ethereum network is restricted to the proof-of-work consensus model, known for being relatively slow. As traffic has increased on Ethereum, supply and demand have driven gas fees even higher.
In contrast, TRON uses the delegated proof of stake (DPoS) consensus. There are only 27 validators who need to confirm transactions compared to Ethereum’s approximate 9,000 validators daily. Thus, the network can handle far higher throughput with significantly lower fees.
The ETH/TRX bridge enables trading across three blockchains
Having previously built their own custom ETH/BSC bridge, FINXFLO developed the ETH/TRX bridge to transfer FXF tokens. With these two bridges, FINXFLO is now the first to build bridges between Binance Smart Chain, Ethereum and TRON, enabling their tokens to be tradable across all three blockchain networks.
Like the first bridge, the latest in-house solution is based on ‘lock and unlock’, as opposed to the ‘burn and mint’ token function used by many providers. This maintains the control of their token supply without the associated issues of burning and minting new tokens, all while allowing their users fast and inexpensive transactions on the TRON network.
To learn more and explore market pricing, visit: finxflo.com.
Co-founded by leaders in their respective niches, FINXFLO is a platform that focuses on changing the cryptocurrency market through innovation. As the world’s first hybrid DeFi/CeFi liquidity and protocol aggregator, FINXFLO brings a one-stop solution for all cryptocurrency traders and investors. Using only one account with one KYC, our users are now able to utilise liquidity from 25+ CeFi and DeFi platforms through a single user interface. In simple terms, Finxflo blends all the upsides of DeFi and CeFi ecosystems to produce the ultimate product.
TRON is dedicated to accelerating the decentralization of internet through blockchain technology and dApp use cases. Founded in September 2017 by Justin Sun, TRON has since achieved a number of milestones, including MainNet launch in May 2018, network independence in June 2018, and TRON Virtual Machine launch in August 2018. July 2018 also marked the acquisition of BitTorrent, a pioneer in decentralized P2P services boasting approximately 100M monthly active users globally. https://TRON.network/
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