1.Bitcoin Smart Contract Platform RSK Is Now Interoperable with Ethereum
2.Binance Futures Set to Launch BNB Futures Contracts with 50X Max Leverage
1.Bitcoin Smart Contract Platform RSK Is Now Interoperable with Ethereum
The Bitcoin-based platform RSK, which is a second layer solution that encourages smart contracts and tokens on the Bitcoin (BTC) blockchain, has announced the creation of Token Bridge, which facilitates interoperability with Ethereum (ETH). The announcement for the creation of Token Bridge is published via RSK official site. The announcement is also published via blog post
Ethereum/RSK Bridge permits to move ERC20 tokens between one chain and the other. This way the client or the contract creator can decided to cross tokens to another network.
Users will presently have the option to cross RSK assets and Ethereum (ETH) based assets. This will make it simpler RSK for projects to work on both the Bitcoin (BTC) and Ethereum (ETH) blockchain, with dApps being able to access a broader base of users.
The bridge works through locking the original tokens in a smart contract when a user moves tokens, and then an equivalent amount of tokens is minted on the destination blockchain. Using the system, ether-based tokens can be transformed into RSK’s ERC20 tokens, which on the other hand can be transformed into ethereum ERC777 tokens.
As of now RSK has a two way bridge with BTC permitting bitcoiners to cross their BTC and use them in RSK to interact with smart contracts. The token bridge allows to cross tokens from Ethereum to RSK. bitcoiners could move their BTC to RSK and buy the crossed tokens from Ethereum.
This interoperability bridge between Bitcoin (BTC) and Ethereum (ETH) can possibly to expand the capacities of dApps, and to make the Bitcoin (BTC) and Ethereum (ETH) economies more connected.
Another advantage of the token bridge is the possibility to have the similar token on few networks. Layer 2 solutions like SWARM or Oraclize and numerous others could get a similar token as payment in many networks.
Next step to decentralisation-
The token bridge in its first version is united, but this isn’t its final form. The bridge contract was worked as an upgradable contract using open zeppelin sdk. RSK is anticipating on changing the token bridge to be trustless and completely decentralised.
2. Binance Futures Set to Launch BNB Futures Contracts with 50X Max Leverage
Binance,”The world’s biggest cryptocurrency exchange by trading volume” has announced to launch BNB/USDT contracts with 50x max leverage on its Binance Futures trading platform. The announcement is published via binance blog post on Feb 07, 2020.
Binance expresses that the BNB is the 17th digital assets on the future’s platform.The futures contract of BNB against USDT will be open for users at 8:00 am (UTC) on Feb 10, 2020.
BNB will be accessible for trading with 50X max leverage from early next week.
Aaron Gong, Director of Binance Futures said,
“After the success of our initial BTC contract, we have focused on bringing Binance’s signature trading experience to all newly added pairs” . “We’ve introduced 16 altcoins to our platform as of today and have seen excellent growth in our altcoin trading volume, with some pairs quickly taking the number one spot in the futures market. The BNB contract has been a highly-demanded product and will continue to grow the industry impact of Binance Futures trading platform.”
According to Binance futures, they hit a peak of USD$3.46 billion day by day trading volume on January 14, 2020.
Prior this week. Binance Future has launched Zcash (ZEC)– Tether (USDT) perpetual contract with a maximum leverage of up to 50x. This new contribution goes ahead the heels of releasing Zcash (ZEC) futures trading .
About BNB
BNB is the local resource on Binance Chain. The BNB token has in excess of 180 use cases worldwide and powers the Binance Ecosystem as its fundamental gas. More than 2.5 million crypto users are holding BNB on Binance.com. By launching BNB contracts, Binance Futures allows token holders to trade the asset in a more adaptable way.
