Aeron (ARN) Migrates from Ethereum ERC20 Token Standard to Binance Chain’s BEP2 Standard
Aeron (ARN) development team released an announcement during the weekend stating the ARN token will be migrating to Binance Chain. The migration aims to provide the users of the ARN token with a fast and secure platform to enhance the efficiency of transactions. Since the release of Binance Chain, the number of companies showing interest in joining the BEP2 protocol standards is slowly increasing as the latest mover – Aeron blockchain – shows.
The announcement made on Medium on May 4th, further states that the ERC20 ARN token will be migrated to BEP2 ARN token. Users will be able to trade and interact with the tokens on Binance exchange and the Binance DEX, a decentralized exchange released this spring.
Ethereum’s network is a concern to many blockchain developers as the slow expensive nature is forcing decentralized applications (dApps) to migrate to better alternatives.
The Migration Of Aeron (ARN) To BEP2 Standards
The aviation based token that aims to keep the industry safe and the data in aviation spaces secure and decentralized.
Announcement on the migration to Binance Chain (Twitter)
Once the migration of BEP2 ARN tokens is complete, the tokens will be enabled at the Pilot shop, EOS cross chain swap interface platform and any ARN powered application. The process of migration is expected to take up a year as users are enabled to use both the ERC20 and BEP2 standard token. This means that users of the ERC20 ARN token can continue using the token on ERC20-only platforms such as exchanges and wallets.
“We are excited with this progression of our long term partnership with Binance, and looking forward to continued success and many new milestone achievements together.”
After the addition of Mithril, Red Pulse and other platforms, Aeron becomes the fifth platform to migrate to the Binance Chain as a number of platforms grow. The holders of ARN tokens on Binance will have their tokens migrated to the BEP2 standard automatically. For those with ERC20 ARN tokens on other exchanges, deposit the tokens on Binance and they will automatically be migrated to BEP2 standard tokens when withdrawing.
The Aeron team hope for a wonderful partnership with Binance in the coming future. The Aeron team report further reported they will be working with the Binance team to introduce new products and developments for the developers and users of the ARN token.
However, the news did not affect the price of the ARN token as cryptocurrency markets moved sideways for a second day running after a short bullish spike on Saturday. The token currently trades at $0.398153 USD, a slight 1.77% gain in the past 24 hours. ARN ranks 357th on the Coinmarketcap rankings with a total market capitalization of $7,763,987 USD.
Further announcements are expected on the migration of ARN to BEP2 standards. We will provide the full details on the migration as it unfolds.