wXDN Specifications
Offering cross Chain interoperability between XDN and BSC
What is wXDN?
The Native XDN chain is built on the Satoshi Core protocol and is similar to Bitcoin. The Binance Smart Chain is built using the same tools as the Etherium network and is EVM compatible, (Etherium Virtual Machine) and is becoming one of the most popular chains to runs DApps and trade tokens on DEX, (Decentralised Exchanges.) The opportunity of moving your XDN to the BSC smart chain will give you even more opportunites to use your XDN and features that are offerd by BSC such as:
- Fast block times less than ~5 seconds
- Low transaction fees via the bridge.
- Transparrancy
- More wallets
- Exposure to the Defi markets
- Greater flexibility
The original XDN chain is not going to be replaced rather this is offering you the ability to move your XDN between XDN and BSC when you choose.
How will it work?
The wrapping process is really simple. We are going to use a wrapping service that wraps your XDN onto the Binance Smart Chain as wXDN.
XDN to wXDN
- Cross-Chain Instruction: Once you initate the wrap request at (enter address here), the system will register the request for your wrapping instructions and notify you to send XDN to a nominated address.(enter address here)
- Bridge: As soon as you send the requested amount of XDN to the nominated address, the wrapping service will lock your XDN coins and immediatley mint the exact number of new wXDN tokens on BSC. The Bridge is a two-way trustless bridge between XDN and BSC. Typically this process takes ~10 seconds
wXDN to XDN
You will need an extra step in this process. You will need to secure some BNB to pay the small transaction fee for the swap from wXDN to XDN.
- Cross-Chain Instruction: Once you initate the wrap request at (enter address here), the system will register the request for your wrapping instructions and notify you to send wXDN to a nominated address.
- Bridge: As soon as you send the requested amount of wXDN to the nominated address, the wrapping service will burn your wXDN and release the exact amount of XDN to you nominated XDN address. Typically this process takes ~10 seconds
