It’s great news that MyEtherWallet revealed support for 2 of the most popular blockchains, Polygon and Binance Smart Chain. The announcement calls both new additions Ethereum scalability solutions.
It can be considered the most significant upgrade to MEW after the mobile app launch in March 2020. Like numerous other applications and services, MEW has decided to support BSC and Polygon due to the fact that of fast and low gas charge transactions. The brand-new update might solve the huge difficulties some users had in transacting within the Ethereum network.
Giving Comprehensive Solutions for Transactions
There are various crypto wallets in the market, each one with particular advantages and disadvantages. MyEtherWallet or MEW is among the most well-known and earliest wallets offered for Ethereum users. It has remained in the marketplace for quite a while and has helped many users and designers.
Managing Ethereum properties and negotiating inside the blockchain has constantly been easy in MEW. But the high gas costs that periodically happen in this blockchain have resulted in some issues for users. It’s the reason we see different options emerge for this issue in the market. Layer 2 solutions or multichain support blockchains are here to resolve them.
Binance Smart Chain and Polygon are two options for Ethereum users –– and the crypto industry as a whole –– for faster and lower charge deals. MEW chose to support these two services to offer more comprehensive services to users. From yesterday, these 2 networks are available to select from for MEW users.
After the other day’s updates, MEW can be considered a multichain wallet. Users can move their funds in between supported networks and select the very best viable choices while sending and getting cash. The team explains the brand-new choice in a post:
“Network scalability and interoperability are the secrets to broad adoption of cryptocurrencies. They are specifically important for Ethereum as it supports the bulk of DeFi and DApp activity. Now, MEW brings the best and most trustworthy Ethereum scalability services to your mobile wallet, with a lot more updates to come as the community develops.”
Although it’s great to have a multichain wallet, working with these wallets always needs more understanding and accuracy while making transactions. People must choose their deal network carefully to prevent losing their funds in between networks. It sometimes happens for newcomers, and services like MEW can play a terrific function in educating those users. They can even embrace some info-based UX designs to assist users to avoid losses, too.