PYR on BSC will be available for in-game and marketplace transactions
Vulcan Forged is committed to offering its users seamless and low-fee transactions in its marketplace and in-game purchases. We are also aware that the blockchain gaming space spans across multiple chains each with large and loyal communities. Thus, we are enabling PYR on Binance Smart Chain as an additional network to be used within the Vulcan Forged marketplace for NFT settlement fees and in-game transactions.
For current Vulcan Forged users, no extra work will be needed. Due to our wallets being white-labels of Venly, all Vulcan Forged users already have a BSC wallet available in their accounts. What this means though, is that users can now use PYR on the BSC layer in order to complete transactions, opening our doors to a wider community.
Why Binance Smart Chain?
By leveraging the technical advantages and community size of Binance Smart Chain, our userbase and outreach can expand into the multiple GameFi, DeFi and trading opportunities outside of the Ethereum and Polygon networks. There is also the ability to further collaborate with projects already integrated on BSC, including integrations into VulcanDex and partnerships with other NFT and gaming projects. Furthermore, it is no secret that the fees on Ethereum are high, and with BSC, transactions cost as little as 1 cent compared to the $200+ on Ethereum.
ERC20 —BEP20 Bridge
A blockchain bridge is a tool whereby tokens can be crossed from one chain to another. In support of BSC integration, we will provide a cross-chain bridge for transforming the original PYR/ERC20 tokens to their BEP20 counterparts and vice-versa. This bridge will be integrated in both My Forge and VulcanDex to help streamline compatibility with our marketplace and game operations.
About Binance Smart Chain
Binance Smart Chain (BSC) is an independent blockchain that adds the benefits of Smart Contracts and EVM compatibility to the original Binance Chain architecture. It was implemented as a separate chain so as not to affect the high throughput of the original Binance Chain.
Because the two are independent chains, the BSC could run even if the Binance Chain went offline. It was designed as a full-fledged environment for developing high-performance decentralized applications and built for cross-chain compatibility with Binance Chain.