By Mark L - Cryptocurrency expert - 30-07-2021
According to a news release, Avalanche (AVAX) is addressing its outdated Avalanche-Ethereum Bridge, or AEB, and replacing it with the suitably titled Avalanche Bridge, or AB. The latest bridge update is reportedly designed to be five times more affordable, faster, and more secure than before. As stated by the corporation, the bridge is made to run as a "growth engine" for additional growth and innovation. It will serve as a development strategy for the project's development.
Reportedly, the AB is now available to users and consumers. All prior assets from the AEB should migrate. The recent upgrade will be working with the network's wallet, and explorer upgrades, to help deliver “next-generation advancements” to all network elements.
If you buy Ethereum (ETH) and want to use the crypto coin within the decentralized applications on the Avalanche platform, you can lock WETH (wrapped ETH) in a contract with ChainBridge, which will then trigger a token of equal value to be minted. Buy Ether with BC Bitcoin here.
"Wardens" are users who operate an audited, up-to-date version of the bridge, comparable to nodes in a conventional blockchain, and will monitor and ensure the AB launch runs effectively and without issue.
Ava Labs, the organization behind the Avalanche Bridge, requests that developers begin preparing their DApps for updated standards as soon as possible.
Emin Gün Sirer, CEO of Ava Labs, stated that the new bridge update "will be a growth engine for the next phase of growth on Avalanche”, and believes that this will create a “new standard for secure and efficient cross-chain interoperability."
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.
2. **Continued Operation Outside the UK:**Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.
3. **Withdrawal of Assets:**For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.
4. **Conversion of Assets:**To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing email@example.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.
5. **Withdrawal Procedure:**To initiate a withdrawal, please email your request to firstname.lastname@example.org from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at email@example.com Kind Regards