With so many different cryptocurrencies and blockchains in existence, a rather uneasy situation is created. While every individual ecosystem has the right to exist, it is evident communication between all of these projects is something worth pursuing as well. This is why BridgeCoin was created, as it will bridge the gap between various cryptocurrencies. Moreover, the native BridgeCoin currency will help realize the blockchain revolution so many people are waiting for.
Why Does BridgeCoin Exist?
Even though there is seemingly no issue with liquidity in most cryptocurrency markets, things can always improve. BridgeCoin aims to bridge the gap between currencies in terms of liquidity, scaling, price discovery, and even arbitrage. With its own native currency and platform, this project aims to make a major impact on the cryptocurrency industry in the future. Doing so is not as easy as one may think, though.
There are several advantages to using the BridgeCoin platform. First of all, there is a strong focus on community-building and skillful coding. Even though the same can be said for most major cryptocurrencies, coding sometimes leaves something to be desired. Moreover, the communities behind some currencies are pretty fractured right now, which is something BridgeCoin wants to address as well.
The project comes with its own decentralized exchange, high liquidity, convertibility, and price discovery. Furthermore, the focus on arbitrage is something a lot of cryptocurrency price speculators will enjoy. Right now, there are a lot of arbitrage opportunities in the cryptocurrency world, yet few people can take advantage of them due to certain restrictions. It will be interesting to see how BridgeCoin plans to tackle that problem.
Moreover, the team is confident they can provide scaling solutions and multi-platform support in the future. Combined with fast transaction confirmations, it quickly becomes evident BridgeCoin has some very ambitious plans. Translating all of these fancy words into working code will be something else entirely, though. There’s still a lot of work to be done, even though the CryptoBridge decentralized exchange went live a few months ago.
What is the BridgeCoin Currency?
The BridgeCoin currency is a scrypt-based mineable currency which was created to fund the development of the CryptoBridge decentralized exchange. Once the platform comes out of beta, 50% of all profits generated by this decentralized exchange will be distributed to participating BridgeCoin holders. Therefore, owning this currency is, in fact, an investment in the future of this decentralized exchange first and foremost. Profits are calculated weekly and distributed evenly to users who stake their BCO on the exchange.
What Comes Next?
For now, the focus is entirely on the CryptoBridge decentralized exchange. We can expect support for CryptoNote-based coins as well as a multisignature federated protocol. Decentralized margin trading will be enabled next month, with a decentralized bond market to follow in August of this year. BridgeCoin itself will not undergo any major changes, as the mining process is still ongoing and staking coins on CryptoBridge is still possible as of right now.