Avalanche (AVAX) is replacing its month-old Avalanche-Ethereum Bridge or AEB with the aptly named Avalanche Bridge or AB, according to a medium post by the company. This newer bridge is reportedly five times cheaper than the previous one and will act as a “growth engine” for the future of the project.
The post points out that the AB is now available to developers and users and that all previous assets should be taken over from the AEB. This upgrade is happening in parallel with the network’s Wallet and Explorer upgrades to “improve” all aspects of the “next generation”.
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Given that 59% of existing decentralized applications or DApps are running on Ethereum, upgrades like this are likely to be required for future interoperability. At this point in time, converting assets from one to another is expensive and time consuming. While Ethereum’s 2.0 upgrade is designed to solve such issues, that shift is likely to be a few years away.
To ensure that the AB launch goes as smoothly as possible, the “wardens” of the ecosystem – users running a validated, up-to-date version of the bridge – are much like nodes on a traditional network. At launch, the Wardens will consist of Avascan, Halborn, Ava Labs and BwareLabs.
The team behind the Avalanche Bridge, Ava Labs, calls on developers to prepare their DApps for new standards. Speaking on the subject, Emin Gün Sirer, CEO of Ava Labs, said:
“The new Avalanche Bridge is a leap forward in bridge technology, but most importantly, it is a dramatic improvement in the experience for users and developers across the Avalanche community. It will be a growth engine for Avalanche’s next growth phase and set a new standard for safe and efficient cross-chain interoperability. “
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While the AB is one of many potential Ethereum bridges looking to upgrade the network, such early technology sometimes confuses newer cryptocurrency traders. Sirer himself is aware of these limitations, although he is “quite optimistic” about the future of the blockchain. Even then, DApps like the yield farming platform DeFi Yield Protocol want to run on Avalanche in the near future.