The recent Twitter announcement by Blockmason has some exciting news in store. The company has announced that there will be the launch of Blockmason Credit Protocol Token- BCPT on Binance Chain and Binance Decentralized Exchange (DEX). This will be done in partnership with Binance. The token is a token which is used for making the storing of data via the Credit Protocol, possible.
Blockmason has always been trying to push the boundaries of the envelope. With the launch of BCPT on Binance Chain, it is a good opportunity to discover newer blockchain places, get a better working knowledge of cross-blockchain functions, the probable potential, and scalability. Further, in the blog, team Blockmason mentioned that there would be a directly proportionate effect of Binance Chain’s growth on the Credit Protocol and BCPT growth. This will, in turn, provide and open up new avenues of possibilities for both the developer community as well as the user community.
One can say that Binance DEX is an advanced platform that offers the best qualities of Binance as a platform when it comes to decentralized features, offering a secure environment, a thorough control over the private keys and money by the customer, along with many other benefits of a DEX. This feature-rich setting has the potential of providing a ‘peer to peer trading’ opportunity.
On the other hand, once the Binance Chain main-net will be launched, the conversion of BCPT from ERC20 to BEP2 will get initiated. This migration from ERC20 to BEP2 will take around twelve hours to get completed. During this time window, there will be no deposits and withdrawals of BCPT allowed. After the successful completion of the migration, the users then can easily withdraw the BCPT to their wallets which are compatible with BEP2. Further, in the blog, the company has announced that- “ERC20 BCPT held in private wallets or on other exchanges will not be impacted.”