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Multichain Bridge Shunned by Binance, Other Crypto Players as Rumors Swirl

Altszn.com by Altszn.com
May 26, 2023
in Blockchain, Crypto, DeFi, Web3
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Multichain Bridge Shunned by Binance, Other Crypto Players as Rumors Swirl
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Like most bridges, Multichain uses a mint-and-lock mechanism to move assets between the 92 blockchains it interacts with. For example, if a holder of USDC stablecoin bridges the asset from Ethereum to Fantom via Multichain, the token gets locked up in a smart contract on Ethereum and then issued anew on Fantom – in this case, as a “wrapped” token called anyUSDC.



Read More: www.coindesk.com

Tags: BinanceBridgeCryptoDeFiMultiChainPlayersrumorsshunnedswirl
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    • bitcoinBitcoin (BTC) $ 110,679.00
    • ethereumEthereum (ETH) $ 2,648.57
    • tetherTether (USDT) $ 0.999972
    • xrpXRP (XRP) $ 2.42
    • bnbBNB (BNB) $ 686.01
    • solanaSolana (SOL) $ 177.81
    • usd-coinUSDC (USDC) $ 0.999802
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    • staked-etherLido Staked Ether (STETH) $ 2,644.94
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    • wethWETH (WETH) $ 2,647.45
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    • wrapped-eethWrapped eETH (WEETH) $ 2,825.13
    • bitget-tokenBitget Token (BGB) $ 5.28
    • pepePepe (PEPE) $ 0.000014
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