By Mark L - Cryptocurrency expert - 30-07-2021
According to a news release, Avalanche (AVAX) is addressing its outdated Avalanche-Ethereum Bridge, or AEB, and replacing it with the suitably titled Avalanche Bridge, or AB. The latest bridge update is reportedly designed to be five times more affordable, faster, and more secure than before. As stated by the corporation, the bridge is made to run as a "growth engine" for additional growth and innovation. It will serve as a development strategy for the project's development.
Reportedly, the AB is now available to users and consumers. All prior assets from the AEB should migrate. The recent upgrade will be working with the network's wallet, and explorer upgrades, to help deliver “next-generation advancements” to all network elements.
If you buy Ethereum (ETH) and want to use the crypto coin within the decentralized applications on the Avalanche platform, you can lock WETH (wrapped ETH) in a contract with ChainBridge, which will then trigger a token of equal value to be minted. Buy Ether with BC Bitcoin here.
"Wardens" are users who operate an audited, up-to-date version of the bridge, comparable to nodes in a conventional blockchain, and will monitor and ensure the AB launch runs effectively and without issue.
Ava Labs, the organization behind the Avalanche Bridge, requests that developers begin preparing their DApps for updated standards as soon as possible.
Emin Gün Sirer, CEO of Ava Labs, stated that the new bridge update "will be a growth engine for the next phase of growth on Avalanche”, and believes that this will create a “new standard for secure and efficient cross-chain interoperability."