Avalanche expressed: The next generation Avalanche Bridge (AB) is coming–seamlessly bridging Avalanche and Ethereum. AB will be 10x faster and 5x cheaper than the Avalanche-Ethereum Bridge (AEB).
Emin Sun Sirer, in the past, stated: "It is the season for Bridges. And maybe Tunnels. And Hyperspace Bypasses. The team that brought you the biggest technological breakthrough in the last 10 years is bringing new things.”
For clarity, The Avalanche-Ethereum Bridge (AEB) was launched in early 2021, thus creating the first step in facilitating a channel to move native Ethereum ERC-20-based assets to the Avalanche ecosystem.
The next generation Avalanche Bridge (AB) is set to replace the existing AEB to provide for a significantly better user experience and more robust security, faster finality, and dramatically lower fees.
The expectation is that the next-gen AB will be 10x faster and 5x cheaper than AEB, with improved user experience than any bridge launched to date.
When the new bridge gets launched, existing assets in the AEB will be migrated to the new AB. After the launch, all the assets that cross over the AEB will also use the AB to bridge back to Ethereum. Thus, the economic and performance improvements of AB will also be extended to assets on AEB. More information is yet to come, particularly technical details.
Why are bridges important? Bridges are essential because the bridge will permit users of DeFi tools to comfortably transfer their assets (different types of digital assets) between the two diverse ecosystems. The creation of a bridge also means the developers of DeFi projects on Ethereum will provide users with an alternative platform on which they can transact for yield farming or other purposes.
Emin Gün Sirer, chief executive and co-founder of Ava Labs, expressed, "Bridges play a vital role in enabling DeFi to grow beyond the borders of one network to complementary ecosystems. This bridge will open the floodgates for hundreds of Ethereum assets, including cornerstone DeFi assets like WBTC, AAVE, and others to flow into Avalanche, fuelling applications like decentralized exchanges, lending protocols, and prediction markets.”
Community response: Please, keep building bridges so users can enjoy the scalability that Avalanche is providing. How much more trustless and decentralized is it?
If this will indeed prove to be a game-changer, as suggested, I will move all my ETH (760,000 ETH) onto the AVAX network to show my support. This project is implemented very professionally and has a clear development plan. Without any doubt, this is one of the best projects.
Further, another user stated, If you do that, I will move all of my ETH (760,001 ETH) onto the AVAX network to show my even stronger support. This will exactly help Avalanche go to the next level.
This change is definitely needed, because the current bridge is slow and makes me think there will be an error that will cost me all my funds.
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