Ava Labs is testing a solution for moving coins between Ethereum and Avalanche networks

The developers of the Avalanche blockchain, launched by Ava Labs, introduced a solution that allows you to economically move coins from the Etherium blockchain to the Avalanche network and back.
Avalanche-Ethereum Bridge is designed for developers who create decentralized financial applications based on Ethereum. The service is at the final stage of testing. The project management said it was one step closer to the launch of the “bridge,” which will allow faster and cheaper movement of coins between the blockchains of Efirium and Avalanche.
According to Avalanche experts, the main advantage of the network is that it supports the Epherium virtual machine (EVM). This means that Airrium developers will not have to make drastic changes to their software so that it becomes compatible with the Avalanche blockchain.

In its functionality, Avalanche-Ethereum Bridge will be similar to other protocols and services created to move digital assets between blockchains, for example, the Wrapped Bitcoin protocol, which allows you to transfer bitcoins to Ethereum. When an asset is entered into a smart contract from the Epherium blockchain, this contract forms a similar amount in the format of Avalanche blockchain coins.

The transferred coins have the same value, and can be returned at any time. Avalanche-Ethereum Bridge works on the basis of the ChainSafe protocol developed by ChainBridge and provides interaction of blockchains. ChainBridge also took part in the creation of the new Avalanche bridge, using funds received under the Avalanche-X. grant program.

Recall that the main Ava Labs network was launched in September after developers managed to raise $60 million $42.5 million of this amount was collected during the initial coin offer (ICO).

Recently it was reported that hackers withdrew about $20 million from the Pickle Finance project in DAI.