exeno, a pioneer in both the crypto commerce (“c-commerce”) and DeFi technology space, is launching a new feature within their exeno finance ecosystem – its bridge. A true DeFi innovation, exeno finance is taking the best of the decentralized financial world, crypto payments, and other Web3 solutions while creating a faster, simpler, and more effective way for everyday usage.
Exeno finance’s bridge wants to stand out from the multitude of bridging solutions, making speed, transparency and ease of use its key benefits for the users and aims to be the bridge of 2023.
“The average bridge processing takes around 20 to 30 minutes in the traditional decentralized solutions, and the process can prolong if blockchain response is slow. Knowing this, we started looking for a solution that can significantly limit the time a user has to wait, in many cases stressed by the prolonged processing. Decentralization and transparency are our inevitable pillars. Speeding up the process without adversely affecting these elements was the next challenge we set for ourselves. We have focused on what we can do differently with the bridge structure to make transactions faster and simpler. Unlike other decentralized bridges, exeno’s bridge treats every operation individually, which is one of the factors that impact the speed of processing”, says Tom Babiak, exeno’s founder & CEO.
To fuel this approach, the company has developed a unique to the industry framework embracing innovative smart contract architecture with the speed of a cloud-based infrastructure. In other words, any predefined business logic is hosted in the cloud that collaborates with smart contracts. This approach allows the bridge to keep its complete transparency, similar to decentralized solutions, yet keeps the fast pace of processing offered by centralized products. As an outcome, exeno finance’s users can enjoy bridging as low as under one minute*, a huge step forward in smart contract efficiency.
Yet speed and transparency are not the only benefits for the users.
“Traditionally, a crypto-owner who wants to bridge between different blockchains has to make two different gas fee payments- on the input and output blockchains. Exeno finance’s bridge allows them to do it only once, as the cloud infrastructure automates the gas fee payment. This drives a significant change in the ease of use, especially for the less advanced crypto users, and can significantly build the spread of DeFi and crypto in general”, concludes Tom Babiak.
The company’s primary focus lies on consumer services, however, it is strengthening its position as DeFi accelerator for other blockchain projects. As explained by Gary Szlatiner, exeno’s CGO “it’s been a tough year for the industry, but we are still here, and we are ready to help other projects establish their capabilities within the DeFi sphere. We believe that by setting up synergistic collaborations, we can foster crypto adoption and market growth faster and more effectively. We are happy to collaborate with projects that share the same vision”.
*based on the lowest actual time achieved; however, actual use and speed are subject to certain conditions being met. Exeno Finance cannot guarantee this speed as it relies on third-party platforms (i.e. blockchains) to operate, which influences its performance.
About exeno: Exeno is a global company aiming to deliver new tech solutions for a rapidly growing blockchain & cryptocurrency market. The company was created by experts interested in developing an entire ecosystem of innovative digital solutions for cryptocurrency owners. Launching the first global online store with real-time safe crypto payments was just the beginning for them. The critical thing for people at Exeno is to create a healthy crypto environment based on transparent rules.