elastos: News of Elastos (ELA) - July 2024 Price Update - 7.15% Breakout Crypto News and Analysis

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The post Chainge partners with Elastos to enhance Cross-Chain Interoperability with New Integration appeared first on Coinpedia Fintech News In a significant advancement for the Web3 financial ecosystem, Elastos has been integrated with Chainge, allowing users to swap assets like ETH, USDC, and USDT from over 14 blockchain networks into ELA on the Elastos Smart Chain (ESC) or Ethereum (ETH) and back. This integration eliminates previous barriers, fostering a unified and efficient financial ecosystem. This integration addresses long-standing bridging challenges within the Elastos ecosystem, unlocking seamless asset transfers and enhancing liquidity across multiple blockchains. By enabling cross-chain interoperability, the partnership breaks down silos, reduces transaction costs, and broadens user access, similar to how efficient transportation systems boost economic growth.

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The team is pleased to announce the recent integration between Elastos and Chainge Finance, enabling users to swap assets like ETH, USDC, and USDT from over 14 blockchain networks into ELA on the Elastos Smart Chain (ESC) or Ethereum (ETH) and back. This integration breaks down barriers and fosters a unified financial ecosystem in Web3. Use here now! Elastos has long struggled with bridging issues, which affects ecosystem growth. Users on exchanges like Coinbase faced difficulties accessing Elastos as only ELA on Ethereum was available. Previous solutions, such as Glide Finance’s high-fee shadow token bridge and ELK Finance‘s complex swaps, frustrated the community. Just as airports facilitate international travel and business, cross-chain interoperability is vital for a cohesive DeFi ecosystem, reducing costs, enhancing tourism, and promoting overall business.

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They nnounce the recent integration between Elastos and Chainge Finance, enabling users to swap assets like ETH, USDC, and USDT from over 14 blockchain networks into ELA on the Elastos Smart Chain (ESC) or Ethereum (ETH) and back. This integration breaks down barriers and fosters a unified financial ecosystem in Web3.

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Elastos, founded in 2017 and building on a vision from 2000, is a blockchain-powered internet version. Its recent breakthrough is the introduction of BeL2, a Layer 2 solution leveraging SmartWeb technology to revolutionize Bitcoin transactions. Elastos is using SmartWeb technology to build the Bitcoin second-layer network BeL2, which extends the efficiency and scalability of the Bitcoin network through smart contracts. This endeavor will enable Bitcoin to power a smart economy and effectively release the liquidity of hundreds of billions of dollars in staked Bitcoin assets. With over 50% of Bitcoin's hash power protecting it through merged mining, ELA boasts extremely high security and credibility in its network, earning it the esteemed title of "BTC Queen" within the community.

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Exciting news! Elastos is now interoperable with 14+ blockchains after the seamless integration with Chainge. This integration addresses long-standing friction point in our ecosystem, enhancing Elastos' connectivity within the broader blockchain space .

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