Over the past decade, blockchain and Defi have become increasingly popular, with disruptive use cases in almost every domain. To reach its full potential, the cryptocurrency community must find solutions to certain persistent problems:
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Scalability
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Interoperability
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Inter-chain communication
Because different blockchain cannot communicate, users cannot fully enjoy the benefits of ledger technology. Just like cryptocurrencies are hard to swap from one chain to another. This frustration makes it imperative that “cross-chain” technologies allow users to exchange value and information easily and quickly. Therefore, we need a strong, trust-minimized cross-chain ecosystem to connect the players in the public chain. Realizing this, Silicoin started exploring technology to cross-chain.
In coincidence, we found that Futures Foundation is now working to build a cross-chain ecosystem that fits our strategic development needs. FuturesCash, the foundation’s product, will launch an IBO (Initial Bridge Offering) mechanism.
Thus, Silicoin has decided to work with FuturesCash. Both users can take advantage of the IBO mechanism on FuturesCash and enjoy the benefits of low gas costs and convenience, making the comples cross-chain process very simple.
What are the benefits of cross-chain for Silicoin networks?
Firstly, lower the threshold of entry for users. Silicoin is known to be an independent public chain based on Chia technology and mining equipment is a basic requirement to join in Silicoin network. Therefore, the vast majority of beginner of users, or users without mining equipment are excluded. This is a very important bottleneck for the long-term development of a public chain.
Secondly, reduce the technical difficulty of ecological development. Silicoin’s blockchain performance will take time to settle compared to Ethereum and BSC (Binance Smart Chain) due to its innovative technology. But we know very well how important it is to develop ecology for a public chain. However, due to technical limitations, many talented programmers have not been able to join the Chia blockchain ecosystem. In view of this, we believe that by cross-chain, we can get more programmers to join Silicoin’s ecology and they can do more development on the BSC without being limited by the common chain itself. For example, contributors can develop GameFi on the BSC, creat LP pools, set up NFT platforms, or open leveraged trading pairs, ect. All of this is difficult to land before the implementation of cross-chain, but after the cross-chain, all become possible.
About SIT on Binance Smart Contract
SIT Smart Contract Address: 0x27db5261Dd23Aca86000bBAf4Cb120b5DD5DD569
Silicoin NFT Contract Address: 0xbCCB20A7CFc41552D8E6B3f181352E14c4C70dE4
Silicoin DAPP Link: https://nft.sitnetwork.org
About FuturesCash
Finally, let’s briefly introduce our partner, FuturesCash cross-chain Wallet has a wider range of applications, better cryptocurrency circulation, and as always, a user-friendly interface. With upcoming new features, it will provide users with a unique experience.
FuturesCash, FC Multi-chain Wallet, focuses on the financial management function of cryptocurrency, and its three features are popular among 500,000 users around the world:
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Mobile phone number opens an account in one minute
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Ultra-low commission directly connected to DeFi trading platform
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Support USDT-TRC20, BNB and other dozens of hot assets
About the Futures of foundation and FuturesCash, olease see the official account below for more information: https://futuresfoundation.medium.com/
Download
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Search for “FuturesCash” in App Store or Google Play
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Open the official website with a browser on an Android phone https://futures.cash
How to transfer your SIT to BSC
https://support.futures.cash/hc/en-us/articles/4852343607065-How-to-make-a-cross-chain-transfer