BOLT Among First To Migrate to Binance Chain – Details
A cryptocurrency project, BOLT, that aims to become the world’s “largest mobile wallet” that is “powered by content,” is migrating to Binance Chain.
BOLT’s developers will “migrate the trading circulating supply” of BOLT tokens to the Binance Chain Evolution Protocol (BEP-2) standard, “while locking a portion” of BOLT (taken from our foundation’s reserves)” in order “to run on Zilliqa’s smart contract.”
The Binance Chain is “a new blockchain and peer-to-peer distributed system” developed by the Malta-based cryptocurrency exchange operator.
According to Binance’s website, the Binance Chain has “near-instant transaction finality, with one-second block times” – which is significantly faster than most other major blockchain-based networks.
According to a blog post on May 1st, 2019 by Christel Quek, the co-founder at Bolt Global, “BOLT [has entered a] strategic partnership with Binance for the migration and token swap of BOLT’s ERC-20 Token to Binance’s BEP-2 Token.”
The collaboration between Binance and BOLT will reportedly involve “building and delivering” a “unique ecosystem of users, partners, and content creators, where creativity, connections, and discovery can be bonded together.”
Ted Lin, the Chief Growth Officer at Binance, commenting on this said:
“We are delighted to be working with BOLT to help scale their efforts to more markets and users [throughout] the world [by harnessing] the power of the Binance Chain. [It] … will ensure transactions and interactions by BOLT’s users [are] fast, efficient and effortless.”