TEAL is the new Smart Blockchain Ecosystem from Europe. TEAL combines the decentralized infrastructure of the Blockchain with a field-proven, associative AI technology, creating a range of new applications for consumers and businesses. TEAL has been part of „Blockchance Family“ since the first Blockchance conference in Hamburg and is convinced that only the adaptation to new processes will ensure a survival in the crypto space. We asked them some interesting questions about the TEAL Token (TEAT) being converted to the BSC (Binance Smart Coin) and got insightful answers.
More and more companies list their token on BSC, why do they do that?
The time has come! The TEAL Token (TEAT) can now be swapped on the Binance Smart Chain (BSC). What does that mean for TEAL and what does Michael Pruban (CMO of TEAL) think about that.
First of all we asked Michael Pruban, why do you even need a bridge from the Ethereum Blockchain to the Binance Smart Chain?
“A bridge and also the TEAL bridge makes it possible to, for example, convert TEAT’s ERC-20 token to a BEP-20 token. This allows you to trade TEAT on the BSC“.
Michael, what are the advantages for the users to convert the TEAT to the BSC?
“As the holder of TEAL token you now have the possibility to swap the token on the BSC without having to pay incredible fees and you can access the Binance Network and benefit from our vast and growing worldwide community. We are convinced that this is a further step to bring the different types of blockchains together which supports the interoperability in the crypto space. We are looking forward to being a part of this development.”
And how is that supposed to work with the TEAT and what does the user have to do?
“If you are the owner of some TEAL Token (TEAT) you will have now the possibility to exchange them into TEAT on the Binance smart chain. How does this work?
First you need some TEAT, you can buy it for example on the Probit exchange. Than you need to have an online wallet like metamask so that you can connect with your online wallet to our Ethereum/ BSC Network Bridge to convert your TEAT into BSC Token. In this process the TEAT leave your wallet and after the exchange they come back as BSC Token.”
Thank you Michael for your answers and good luck at the BSC.
TEAL participated in the BLOCKCHANCE EUROPE conference in 2019, sharing experience and valuable insights with our community. You want to be part of the community too? Join the coming BLOCKCHANCE EUROPE 2021 conference. Get your tickets here, win an impression of some of our speakers on our YouTube or join us on Telegram, Twitter or LinkedIn to stay up to date.