Zilliqa is one of the many projects that is best known for its blockchain efforts. Recognition of these efforts now comes in the form of future BUSD support, as well as TikTok exposure.
TikTok Wants you to buy ZIL
Social networks will always have their role to play in the world of cryptocurrency. Whether that is good or bad, will be a matter of point of view and expectations. Recent exposure for altcoins on TikTok is a remarkable, albeit also worrisome trend.
As the world has seen from TikTok, it is partially responsible for the recent Dogecoin price surge. Now that this uptrend is slowly coming to a halt, influencers are shifting their attention to Zilliqa. Bringing more exposure to this crypto asset never hurts, although no one should take financial advice from TikTokers.
What is remarkable is how primarily younger people are promoting crypto on this social media. The video platform and its short clips lend themselves well to creating interesting content. Promoting specific coins through social media is always risky. A lot of people will lose money, as there is no such thing as free advice.
Despite the influence of TikTok, other factors are at play as well. Zilliqa has built up a very solid reputation as a blockchain platform. That aspect is not going by unnoticed either.
BUSD is Coming to Zilliqa
As the stablecoin competition continues to heat up, interesting things are bound to happen. Binance, the world’s leading crypto exchange, has its own digital dollar. Known as BUSD or Binance USD, the stablecoin will be issued on the Zilliqa blockchain later this year.
This venture is made possible thanks to a partnership between Zilliqa and Switcheo. Building a bridge between Ethereum and Zilliqa’s ecosystem will result in ZRC-2-BUSD being created in Q4 2020.
To achieve this goal, an interoperability bridge needs to be built. It is somewhat similar to what Syscoin has built, at least in terms of bringing ERC-20 tokens to a different blockchain.
Paxos will mint ERC-20 BUSD on Ethereum, Binance will take care of trading, and Switcheo builds the bridge.
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