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Harmony Upgrade Enables Two More Cross-Chain Functions

  • Harmony upgraded to enable two more cross-chain functions.
  • The upgrade includes BNB from BSC to Harmony and ONE from Harmony to BSC.
  • Harmony-Binance bridge connects with smart routing.

In a tweet post by Harmony, the upgraded enables two more cross-chain finance functions. First, the BNB from BSC to Harmony protocol, and the second is ONE from Harmony to BSC.

Furthermore, the Harmony-Binance bridge connects with smart routing and with Binance as its trading partner with over 100 BNB assets on this cross-chain decentralized exchange.

Best of all, any external validator can participate by fulfilling bridge transactions. Transferring tokens from Harmony to Binance is done by locking tokens on Harmony Chain via a smart contract, at which point the same number of tokens are minted on Binance Chain.

Unlike other bridges that use a collateral-based system, there is no pre-minting of tokens on this bridge. Alternatively, they are minted and are locked on the Harmony side. Users can buy tokens by burning and unlocking the original tokens on the Harmony Chain.

Moreover, different from other bridge implementations, Harmony doesn’t use block relayers. Instead, the bridge validators act like event relayers that happen on each side. More so, the crypto world continues to innovate and shows no sign of slowing down. For this reason, we can really that cryptocurrency might be the future of the financial world.

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Calev Ford

A Computer Engineering graduate who writes news focuses on cryptocurrency-related and blockchain technology. He is enjoying using his skills to contribute to informing people of the exciting technological advances that happen every day.

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