Blockchain-oriented educational platform LABEL Foundation announced that it will be transferring to the Binance Smart Chain. The bridge, built on Ethereum Mainnet, will enable new applications through the platform. This is to improve interoperability.
Curvegrid has developed MultiBaas Middleware, which will link the Ethereum Mainnet to the Binance smart chain. This will permit LBL tokens free movement between both blockchains. This integration will enable advanced smart contracts capabilities and massive computations for the LABEL Foundation, allowing for more secure, sustainable, and scalable performance for their users.
LABEL also revealed that two IDOs will be conducted on RedKite, NFTb and 17th December. This allows early stage users to buy LBL tokens in the public sale.
The Bridge has many benefits
The high fees involved in transactions on Ethereum Blockchain are a major problem for those who use it. DeFi’s home, the blockchain has experienced increased network activity as a result. Due to the fees, users are finding it increasingly difficult to transact small amounts and move assets on the blockchain such as NFTs.
The network’s high transaction fees have forced DApps to search for lower-cost alternatives. Binance Smart Chain is the clear choice.
The BSC bridge will allow the LABEL Foundation to reduce fees and improve throughput efficiency. The Binance Smart Chain has a reputation for being fast and decentralized, with high transactions per second. This is what the LABEL Foundation will take advantage of.
Blockchain allows projects like LABEL Foundation with a long-term view to solve problems that LBL token holders might face by using the DApp multichain.
LABEL Foundation Buildings for the Future
MultiBaas Middleware allows LBL tokens, which are based on multichain technology, to seamlessly move from BEP-20 (or vice versa) to ERC-20. It aids in LABEL Foundation’s expansion which has already crossed the blockchain and education industry.
LABEL Foundation recently partnered up with OPENTRACK, a leading platform for music education, which is operated by Clession. The collaboration allows LABEL Foundation to attract world-class teachers into its ecosystem in order to deliver best-in-class content through its platform.
LABEL Foundation brings artists like Docskim and Mark Lettieri to the platform in order for them to NFTize IP rights. NFT Market makes it possible to embed IP rights in NFTs. This allows them to be easily transacted. This can be achieved through a Global Value Chain that is initiated by a virtuous loop from LABEL Foundation.
The migration and bridging to the Binance Smart Chain will also enable LABEL Foundation to leverage the blockchain’s many features in order to bring the very best experience to users through their App.
Last but not the least, LABEL Foundation’s incubation program will allow it to foster world-class talent by bridging with the BSC. Through system integration, profit sharing will be equitable.
LABEL Foundation has also revealed that Solanium will join the project as a strategic consultant to expand its ecosystem.