With the boom of DeFi and the growth of the capital scale of each public chain, the cross-chain demand is increasingly unnoticeable. Recently, Effect Network and pNetwork reached a strategic partnership to launch the first pNetwork-powered bridge between EOS and Coinan smartchain and officially launch the EFX token.
Effect Network, a global community building the future of work ecosystem on blockchain
Effect Network is the world’s first blockchain-based future of work ecosystem that matches companies with a global, on-demand, 24×7 scalable freelance workforce. The primary goal of Effect Network is to create a platform that encourages automation and provides paid work opportunities for people around the world, and its combination of artificial intelligence, blockchain and machine learning will help lead the fourth industrial revolution.
Effect Network, the most used decentralized application on the EOS mainnet, has completed over 7 million paid tasks to date. Freelancers on the platform are mainly engaged in projects such as translation, captioning, social media interaction, and even refugee art NFT missions with the United Nations and World Vision, using organizations that even include Kraft Heinz, PricewaterhouseCoopers (PwC), Linus Tech Tips, the United Nations, and Akon.
The release of the first bridge between EOS and the BSC means that users can seamlessly migrate from EOS to BSC, and for Effect users and EFX token holders, it also means that EFX tokens can be moved across the chain across the blockchain.
On the bridging side, pNetwork is a trusted partner. pNetwork is the infrastructure for pTokens, pToken is a cross-chain system that enables assets to move smoothly from one blockchain to another, and pNetwork Portals powers cross-chain interoperability between smart contracts.
Currently, pNetwork already supports EOS and BSC, and through this collaboration, assists in deploying a bridge system for both chains, launching a new EOS-BSC direct bridge. This joint effort made Effect Network the first project where this connection started.
pNetwork developed the bridge setup and integration in the pTokens decentralized application, enabling Effect Network and its dApp to connect to the BSC. Effect Network also developed the custom bridge interface for exchanging EFX to pToken. With the pNetwork-powered bridge, the community can enjoy DeFi on the BSC by ensuring smooth and easy transactions from one chain to another with Effect’s technology.
In addition, on May 21 Effect Network has established a liquidity pool on the Coin Smartchain, enabling users to exchange BNB-EFX directly on PancakeSwap. The contract address is 0xc51ef828319b131b595b7ec4b28210ecf4d05ad0.
Jesse – CTO of Effect Network specifically mentioned: “We are comfortable working with such an experienced partner to create the foundation of the EFX token bridge. pTokens has established itself as a very professional and user-friendly solution that uses trusted computing to make their network extremely secure. As we plan to build our technology across multiple chains, this is quite an important collaboration.
Thomas Bertani – pNetwork Project Lead also responded: “We are pleased to be the solution chosen by Effect for their cross-chain scaling initiative. The pNetwork is designed to enable frictionless movement of assets between networks so that the community can seize opportunities and grow their projects.
Official website: https://effect.network/
WeChat: Effect Network
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/effect-network-and-pnetwork-enter-into-a-strategic-partnership-to-build-the-first-bridge-from-eos-to-bsc-2/
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