On Monday, September 9th, Travala conducted an ask me anything (AMA) on its sub-Reddit to answer questions surrounding its recent announcement to migrate to the Binance Chain. Participants were able to propose two questions per post, which received responses from Travala within 48 hours of the beginning of the AMA. At the time of press, the AMA thread is locked.
Many participants sought to learn the reasoning behind migrating to the Binance Chain. A Travala representative, “cryptokyle,” responded, “we first considered moving to another chain after the series of reliability issues from the NEO blockchain.” He went on to say, “we have been looking into the Binance Chain before the NEO investment.” Referring to the EcoFund investment Travala accepted from NEO Global Development (NGD) this past July.
Travala states it had decided to move to the Binance Chain to “maximize [AVA] token economics, usability, security, and speed.” Further, the team states it sought to “align with an industry leader that [it believes] will help Travala.com on its mission to allow people to book travel with cryptocurrencies.”
One participant asked, “how are smart contracts going to be implemented on Binance chain after dropping NEO?” Travala acknowledged that Binance Chain does not currently support Turing-complete smart contracts onchain. However, the team aims to utilize Cosmos’ Inter Blockchain Communication (ICB) protocol for future smart contract functionality. Further, Travala aims to port what it has built on the NEO blockchain to Tendermint BFT and ICB.
Regarding a token swap following the migration, Travala states “there will be a very long runway” to swap NEP-5 AVA for the BEP2 token standard. The team aims to publish a “clear guide” on the initial partial migration to Binance Chain, as well as when the full migration occurs.
Note: NEP-5 AVA that is not swapped “within the defined timeline” will be burned if users do not migrate.
The full AMA can be found at the link below: https://www.reddit.com/r/Travala/comments/czx2vo/24_hour_ama_monday_9th_september_2019_at_0900_utc/