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Coordinator of Binance Smart Chain ecosystem Xiaoguang Zhang has commented on the development.
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He pointed out that the feature will bring “seamless UX together for crypto users to access DeFi and Dapps in BSC and other blockchains.”
BAT now available as a Wrapped token on BSC
As a result of the partnership, the BAT token is now available as a wrapped token on BSC. The token is natively built on the Ethereum blockchain and has continued to circulate on the chain. As a result of the partnership, users can exchange the previous BAT tokens for an equivalent of the BSC-based BAT token.
BAT holders are also able to utilize the token along with different BSC-based apps like Beefy Finance and Pancake Swap.
A decision born out of Ethereum’s high fees
The high level of Ethereum transaction fees has been a major stumbling block for most users on the Ethereum (ETH) network.
The decision by both companies seems to be motivated by the desire to do away with Ethereum’s high transaction fees.
Chief Executive Officer of Brave Brendan Eich reveals that the company is looking forward to the collaboration and integration with Binance Chain. He added that the exchange’s scalability and low transaction fees were the main attraction for the partnership. He also indicated that the partnership will help Brave explore BSC s a means to manage peer tipping.
The due date for the feature to go live is not known yet, but the built-in wallet of the Brave browser already offers support for both BSC and Ethereum. The announcement stated that the platform will add more support later this year.