MyEtherWallet (MEW) integrates with Binance Smart Chain
In a significant development, MyEtherWallet (MEW) has announced the launch of a bridge that would help the users of the MEW wallet to move their funds to Binance Smart Chain and vice versa,
This would help the developers and the users not only to move funds but to develop on either of the blockchain networks and the users and the developers would be able to enjoy the best of both worlds. For a long, we have been advocating that the blockchain networks should seriously think about cross-chain adaptability and not let the crypto ecosystem get distributed across multiple blockchain networks that don’t adapt or not to each other.
“More ways to interact with your digital assets is how the Ethereum ecosystem grows,” said Kosala Hemachandra, Founder and CEO of MEW. “For us, although we began as the original wallet interface for Ethereum, we view multi-chain development as an important way to increase accessibility to the rich ecosystem of Ether and DeFi.”
With the option to move funds across ETH and BSC chains, the user can now choose the network that offers the lower fees for transactions and this would likely improve the usage of the MEW wallet in the long run as the integration of the bridge is within the wallet app on Android.
MEW was one of the first wallets for the ETH ecosystem and has been around for a long. While the website version recently upgraded for version 6.0, the wallet app is expected to upgrade to 2.0 in the coming months which would take into account that Ethereum would be scaling to a very large extent when its own Version 2.0 releases next year.
“To provide an easy channel to blockchain and crypto is one of the critical missions for the BSC, as it will minimize the barriers for non-crypto users to participate in fruitful and innovative decentralized Dapps. MEW supporting BSC will introduce very user-friendly tools to support cross-chain bridging and access close to thousands of Ethereum and BSC eco-system seamlessly. We also believe this collaboration will inspire more adoptions and new opportunities on the cross-chain and multi-chain DeFi Legos .” Said Samy, BSC Eco-system Coordinator.
It is indeed great for the crypto ecosystem that there are many projects underway that looks to bridge the different blockchains. Recently, we reported that Neon had introduced an EVM for Solana so that the Dapps could be ported over into eitherr blockchain which basically brings in multi-chain adaptability between Solana and Ethereum.