Avalanche Bridge Adds Native Bitcoin Bridging Functionality – crypto.news - BitcoinEthereumNews.com
Bitcoin cryptoAng Avalanche Bridge ay Nagdaragdag ng Native Bitcoin Bridging Functionality – crypto.news06 / 24 / 2022Balita ng Ethereum ng Bitcoin Avalanche has anounced that its cross-chain bridge will now support native bitcoin. In a blog post that came out on Wednesday, the smart contract platform said that the Avalanche Bridge now has the ability to bridge native bitcoin (BTC). The new feature was added because Avalanche wanted to unlock more than $500 billion worth of assets on the Bitcoin network. The bitcoin bridge will make it possible for people who own BTC to invest in major DeFi protocols on Avalanche while still keeping their BTC. The bridge also makes it easy for users to access essential Avalanche tools like the Wallet and Explorer. The Avalanche Bridge was launched in August 2021 to replace the older Avalanche-Ethereum bridge. It enables the fast and secure transfer of ERC20 tokens between Avalanche and the Ethereum network, much like the old bridge. However, Avalanche Bridge is five times less expensive than the old Avalance-Ethereum bridge and offers a better user experience. Since it started, Avalanche Bridge has handled transactions worth more than $50 billion, which has helped the Avalanche DeFi ecosystem grow. The Avalanche ecosystem currently has a total value