World Mobile launches Ethereum and BNB Chain bridges, strengthening multichain strategy World Mobile launches Ethereum and BNB Chain bridges, strengthening multichain strategy
The project hopes that the Ethereum and BNB Chain cross-chain bridges will incentivize both networks' users to join the emerging WMT ecosystem.
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Updated: Aug. 3, 2023 at 6:06 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
World Mobile (WMT), a global mobile network based on blockchain, has launched dedicated cross-chain bridges for Ethereum (ETH) and BNB Chain networks.
According to an Aug. 3 statement, the newly launched cross-chain bridges align with World Mobile’s multichain strategy of exposing the crypto community to its growing ecosystem, as the bridges would allow users to seamlessly move their WMT tokens between Cardano (ADA) and the other blockchain networks.
Speed and scalability
World Mobile underscored the importance of the scalability and speed offered by both networks, which were key factors in their inclusion.
By incorporating these networks into its operations, World Mobile aims to realize its vision of connecting global communities and fostering a more inclusive mobile ecosystem.
Zachary Vann, the Head of Development at World Mobile Token, further highlighted the dominance and influence of the two blockchain networks within the crypto space. Vann added:
“This is a significant step forward for our multichain strategy, as it will enable our token to access the rich and diverse ecosystems on both chains.”
Additionally, the Ethereum and BNB Chain cross-chain bridges will offer users of the two networks a chance to join the emerging WMT ecosystem. BNB Chain and Ethereum are two of the most used smart contract networks, with both networks having more than 200 million unique addresses, respectively.
WMT eyes liquidity
In addition to its primary objective, the initiative is set to bolster WMT liquidity. Compared to its native Cardano network, Ethereum and BNB Chain currently demonstrate higher levels of liquidity.
Notably, the World Mobile sidechain AyA will see seamless integration with these two prominent networks, further enhancing its potential and accessibility.
With the creation of the new bridges, WMT now has three cross-chain bridges connecting it to other networks. The third bridge connects World Mobile to Conflux (CFX) blockchain.
Despite a slight drop of 0.93% in the last 24 hours, WMT’s price holds steady at $0.11489, as per the data from CryptoSlate.
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Cardano
$0.97421
Cardano is a decentralized public blockchain and cryptocurrency project and is fully open source.
