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Avalanche-Ethereum Bridge(s) the Gap

There are major improvements on Avalanche that are already live and available to users, which have eased out their experience and will only get better with the expected arrival of Avalanche-Ethereum Bridge shortly.

Avalanche has made major ongoing improvements, including minting NFTs in its wallet. Avalanche is making concerted efforts to make the user-experience flawless on its decentralized apps. Next month will announce the launch of Avalanche-Ethereum Bridge on its mainnet, which is a result of an incredible effort between DeFi or Decentralized Finance ecosystems through Ethereum and Avalanche. It has ensured that the user can move back and forth from Ethereum and Avalanche by launching WAVAX or Wrapped AVAX on both Avalanche and Ethereum. It will improve the experience for both the users and developers. WAVAX will upsurge AVAX exposure all over Ethereum and allow liquidity to interoperate between various ecosystems. The ERC-20 compatible WAVAX or Wrapped AVAX for the AVAX token. AVAX is treated on Avalanche’s C-Chain akin to regular ETH on Ethereum. It reflects that AVAX does not have a standardized interface that can afford the ERC-20 tokens to be interchangeable.

WAWAX works around the problem by depositing 1 ERC-20 token each time deposit of AVAX takes place. It makes WAVAX exchangeable for the same amount of AVAX. The fork contract is similar to that of WETH’s and resembles the Gnosis WETH implementation’s security features. The audited contract has been circulating for many years. Avalanche has made it possible for users to transfer X-Chain or Exchange Chain and C-Chain or Contract Chain through its Avalanche wallet. It will allow users to leverage the transaction amount of X-Chain, while they benefit from C-Chain, the decentralized application, or the DApp ecosystem. To top the advantage, the NFTs or the non-fungible tokens abilities have expanded with the NFT Studio on Avalanche within the Avalanche Wallet. Any entity with a free Avalanche Wallet can promote their series of NFTs effortlessly with just a few clicks, experiencing the best interaction of NFT on crypto. C-Chain belonging to Avalanche is currently running on EVM or Ethereum Virtual Machine. Therefore, all protocol structures, including rules present on Ethereum, are also available on C-Chain. The Ethereum based ERC-20 standard is a common standard for exchanging interchangeable assets or fungible assets. The decentralized apps require to have the standard to exchange one token for another. Avalanche’s native token AVAX does not match the ERC-20 standard. It is technically permissible but poses a problem for traders and developers to permit the transfer. WAVAX will help to simplify this problem.

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