Access TeraBlock Bridge: https://bridge.terablock.com/
TeraBlock Bridge: The simple way to move TBC from Ethereum Chain (ETH) to Binance Smart Chain (BSC)
Backed by a team of seasoned developers, TeraBlock aims at pioneering a radically decentralized platform that will define the future of crypto-commerce. The launch of the TeraBlock bridge will mark a significant step in the direction of creating a secure multi-chain interoperable trading platform. Committed to remaining at the helm of global currents in the crypto sphere, we have effectively moved our operations from the Ethereum chain to the Binance Smart Chain. Expansion within the DeFi space has caused immoderate pressure on the Ethereum network causing transaction fees to touch record highs among other issues.
Addressing the Scalability, Stability, and Speed” Trilemma
With the up-gradation of our smart contract on BSC, we will be adequately addressing the prolonged “scalability, stability, and speed” problem on the Ethereum network. Pumping greater liquidity into our BSC contract will allow us to provide sustained value to our users.
The delays in executing transactions on the Ethereum blockchain can be attributed to its inability to scale up to support the high demand.
Further, the growth in the DeFi space has intensified this problem. The increased pressure and congestion on the network have pushed transaction fees to exorbitant highs while also causing dramatic delays.
The Ethereum blockchain is also going through continuous developments such as the switch from the Proof-of-Work (PoW) method to the Proof-of-Stake (PoS) method causing an overall slowdown in the network speed.
The TeraBlock Bridge
The TeraBlock Bridge is the newest addition to our product portfolio and our next big step in the direction of providing a thoroughly simplified trading experience to our users by facilitating multi-chain interoperability. The launch of the bridge will add a layer of utility and functionality to the TeraBlock platform. It leverages “cross-chain routing” technology to facilitate the secure movement of TBC tokens between the Ethereum chain and the Binance Smart Chain.
It allows TBC token holders to conveniently exchange their TBC on ETH to BSC through an intricate burn-and-mint process at the backend. With burn and mint functionality tokens are burned on the Ethereum chain and equivalent amount of tokens are minted on the Binance Smart Chain through a smart contract. To encourage users to move from Ethereum to Binance we have airdropped $20 worth of extra $TBC tokens to holders on Ethereum Chain. TeraBlock will also pay the fees to mint tokens on Binance Smart Chain to make the process as convenient as possible for users.
Whereas initially, the TeraBlock Bridge shall operate only to move ERC-20 tokens to BSC, our development team is constantly working to improve and enhance the functionalities of the tool. Users will soon be able to use the TeraBlock Bridge to move different tokens across multiple chains.
Towards a Radically Decentralized Trading Ecosystem
Our latest release is among a series of other exciting products that we are set to roll out as part of our trading ecosystem. In addition to the aforementioned, we are also about to launch other DeFi product offerings to facilitate yield Farming, NFT purchases, and learning.
We strongly believe that multi-chain token bridging will pave the way for future collaborations with leading projects that will help us secure sustained value for our users. The TeraBlock bridge aligns with our broad vision of creating a secure multi-chain interoperable trading ecosystem.
Whether you have a question about our products or features, you can click on the link below to get in touch with our team on our telegram handle. Telegram Community Chat.