B2BinPay v20 Introduces TRX Staking and New Blockchains

B2BinPay, one of the leading blockchain platform, has just become even better. The latest version introduces TRX staking and expands blockchain support, offering clients greater flexibility and efficiency. Here is a review of how these new features enhance the experience with B2BinPay.

TRX Staking – Earn Passive Income!

A key highlight of B2BinPay v20 is the introduction of TRX Staking, built on the TRON community’s advanced Stake 2.0 mechanism. This new approach surpasses the previous Stake 1.0 by offering greater flexibility, simplified user interactions, and enhanced efficiency in resource delegation and utilisation.

TRX staking allows B2BinPay clients to stake any amount of TRX and earn a passive annual yield of 3-5% (subject to network conditions). Additionally, staking TRX can significantly reduce transaction fees on the TRON network by converting staked TRX into Bandwidth and Energy, two essential resources.

Bandwidth is utilised for transaction processing capacity, while Energy powers smart contract operations. By staking TRX and acquiring these resources, businesses and individuals can optimise their transaction efficiency and lower operational costs, gaining a distinct competitive advantage in the digital asset landscape.

TRX Staking through B2BinPay is a simple process:

• Firstly, convert your TRX into either Bandwidth or Energy, depending on the particular processing requirements of your selected asset type.
• Following this, allocate your votes, which are converted from Bandwidth or Energy to SR.

Extended Blockchain Support with Optimism, Arbitrum, and Base

Expanding upon the prior integration of Polygon and Avalanche, B2BinPay v20 broadens its blockchain support by introducing Optimism, Arbitrum, and Base. These additions are particularly noteworthy as they provide native support for stablecoins.

Optimism

Optimism is a Layer 2 solution that boosts the scalability of the Ethereum main network through transaction batching. By collecting transaction data from the Ethereum blockchain, consolidating it into batches, and then validating it on the Ethereum mainnet, Optimism significantly reduces fees, which are typically one-tenth of Ethereum’s base level. Since its inception in 2021, Optimism has enabled users to save over $1 billion in gas payments, establishing itself as one of the most cost-effective blockchain solutions available.

Arbitrum

Arbitrum is an Ethereum scaling solution designed to enable greater transaction throughput at reduced costs. Leveraging the same tooling as Ethereum, it offers developers a seamless and secure environment for swiftly deploying DApps on the Arbitrum network. This integration is particularly advantageous for stablecoin users, as it broadens available options.

Base

Crafted by Coinbase, Base utilises Optimism’s OP Stack to bolster compatibility with EVM. This open-source rollup facilitates the support of stablecoins and streamlines code deployment across Ethereum and compatible blockchains.

The Significance of Expanded Blockchain Support for Clients

With the integration of more blockchains into B2BinPay, clients gain a broader array of choices for their transactions, aligning their business needs with the appropriate technology. 

Specifically, B2BinPay now supports:

• USDT on 7 networks: Ethereum, Binance Smart Chain, Tron, Avalanche, Polygon, Optimism, and Arbitrum.
• USDC on 8 networks: Ethereum, Binance Smart Chain, Tron, Avalanche, Polygon, Optimism, Arbitrum, and Base.
• Bridged USDC on 4 networks: Avalanche, Polygon, Optimism, and Arbitrum.

Here are several other use cases demonstrating how the expansion of blockchain support can benefit clients.

Facilitating Withdrawals for End-Users

When an end-user necessitates withdrawal in a currency that is not readily accessible, B2BinPay can promptly convert assets into the required currency and manage any associated transaction expenses. This ensures efficient fulfillment of your end-user’s withdrawal requirements.

Minimising Blockchain Transaction Fees

For clients seeking to diminish USDT transaction costs, B2BinPay presents an efficient solution by permitting the aggregation of USDT from diverse blockchains, including Ethereum or Optimism, into a unified swap wallet. From this point, clients can withdraw funds employing any available blockchain, thereby reducing expenses.

Guaranteeing Liquidity for Trading Platforms

In scenarios where significant cryptocurrency funds are held and urgent requirements arise, such as stopouts on trading platforms, businesses can rely on B2BinPay’s extensive blockchain support for swift conversion of assets into the required currency for deposit. This feature facilitates rapid responses to market demands and aids in maintaining liquidity.

Conclusion

In summary, B2BinPay’s journey continues with ongoing developments. The upcoming release is set to introduce Algorand and Solana, expanding the total number of supported blockchains for stablecoin transactions to ten. These additions complement existing platforms, which include Tron, Ethereum, Binance Smart Chain, Avalanche, Polygon, Optimism, Arbitrum, and Base.

The post B2BinPay v20 Introduces TRX Staking and New Blockchains appeared first on BeInCrypto.