Today, Gifto just made a big leap as they officially migrated to the Binance chain. With the aim of making Gifto the widely-used token in the world, they finally decided to clear off the boundaries by leaving the Ethereum blockchain for the newly launched Binance.
In a report obtained by the Cryptoninjas, the Gifto has shared that they foresee the Binance chain to create a huge future in the digital community. They further added that this chain offers a faster speed and has smart contract options compared to the other.
An excerpt from the Gifto’s official announcement revealed that they will always have great respect for the Ethereum community. However, their decision to move into a new and better blockchain is something that suits their aggressive plans in the near future. Gifto aims to grow their entire community without having to incur huge fees and transaction charges to the user, which they believe will give a negative impact on their experience.
How Gifto Uses the Binance Chain?
With the recent transfer of Gifto to the Binance chain, they made sure to make the flow of transaction simpler and easier to the mass market. They added that their first step in making the transaction is to support the migration of the Gifto ERC20 tokens to the BEP2 through the Binance website.
Secondly, they also made sure that the Binance chain tokens will be supported in the Gifto wallet. That means, enabling the BEP2 token to be used together with the Gifto ERC20 tokens. With the first two steps elaborated in the recent report from Medium, they also plan to roll out more Gifto wallet across the numbers of third-party applications thereafter.
With this recent implementation of plans, the Gifto revealed that more of their upgrades will happen real soon as users start to use the Binance chain on a large scale. With the millions of gamers, creators and streamers that are buying and playing through the use of virtual currencies, the Gifto is literally heading to becoming the most widely used in the entire world.
How the Migration Process Takes Place?
Gifto has issued an important note to all their users regarding their migration to the Binance chain. According to the report from the Medium, the migration process which takes place recently was totally different from the typical mainnet transfer.
They made sure that the current trading and use of the Gifto tokens will not be affected by the said migration. Once the migration official starts, any user will have an option to choose whether or not to convert their ERC20 GTO tokens into a BEP2 through the website, Binance.com.
Each user will have access to convert their tokens at their most convenient time. On the other hand, ERC20 trading will not get affected by this process. Meanwhile, in just a few weeks from now, users will already gain access if they wish to deposit their ERC20 GTO to the Binance website in order to proceed conversion. As the Gifto leaps forward to mass adoption, they still ensure not to halter any transaction that their platform users will have to make.