The new Avalanche Ethereum Bridge. It’s good, but …
“5 times faster” than the previous bridge; AEB.xyz was a little painful. The new Avalanche Ethereum bridge is the official highway for ERC20 and ARC20 tokens to spill on either side.
Pulling notoriety from up as high as Emin himself. Intel SGX technology sounds cool too. (Not trying to FUD Intel SGX, but on my short conquest to figure what the hell it even is, I stumbled across this woefully glum article on an “unfixable flaw that can steal crypto keys and more.”.)
Note: I have only skimmed the title. Feel free to explain how this does not apply to Avalanche in the comments section.
On a positive note, you can read more into it below.
The developers set out with 5 core aims for the bridge:
- Make it cost effective
- Make it fast
- Make it transparent
- Make it intuitive
- Make it frictionless
Honestly, they’ve achieved pretty much everything here. And even provide proof of assets. An important source of trust for users, and clarification around movable assets.
Something that a lot of options are lacking. In an easily accessible manner.
Granted, there are some limitations to the bridge. The most obvious: it’s Ethereum <> Avalanche only. And, the number of tokens is tragically low; more on this later.
Competitors, Elk, and Relay, have both built-in cross-chain bridging. With multiple chains integrated. Ethereum included. And Fantom, and Matic, and HECO, and BSC, Abritrate, xDai, Polkadot, Cardano, and many more … Oh, and there’s Ren too.
All of these bridges have low pricing. They’re all really quick. So, who will win? The more “official” Avalanche bridge? Or the cross-chain liquidity networks. I won’t share where my bets are.
On the side of the new Avalanche Ethereum bridge: it does have the official AVAX branding. (It’s more closely affiliated with Avalanche than the others.)
The new AEB does state “Beta” in the top left. My second niggling annoyance is that there are basically no Avalanche native tokens on the bridge … One for the ecosystem? I think not. Hopefully, they will add more AVAX native tokens.
Isn’t Avalanche supposed to be better than Ethereum?