The NFT contests platform Lucky Block made the announcement today that the Ethereum bridge solution for traveling between the Ethereum (V2) and BNB Smart Chain (V1) versions of the currency will go live on October 3, 2022. This will let users to move between the two versions of the coin more easily.
Since the LBLOCK V2 token was first traded on the LBank platform on July 27, 2022, the active Lucky Block community has been patiently waiting for the debut of the currency.
In the time since then, LBLOCK V2 has been listed on the centralized exchanges MEXC and Gate.io (CEXs).
The team anticipates that the bridge audit will be finished within the next two weeks, at which time it will go through Testnet testing, according to our sources, which we have.
The bridge code has been subjected to an audit by CertiK, and the penetration testing is still in progress.
Hackers are able to target bridges because of the large sums of wealth that they transmit between blockchains that would not otherwise be able to communicate with one another and the somewhat complicated structure of the programming that is involved in the process.
A Smooth Transition from LBLOCK V1 to V2
With the launch of the bridge, transitioning between LBLOCK V1 and V2 will be a smooth one, and it is anticipated that the price gap between the two iterations of the currency will begin to close as a result.
Users are able to add funds to one side of the Lucky Block Ethereum Bridge, which enables the bridge to function properly. This is accomplished by the user unlocking the supply on the chain that the funds are being deposited to and the user locking the supply on the chain that the funds are being transferred from.
Due to the challenges involved in listing the original BEP20 currency on CEXs, the Lucky Block team decided to produce LBLOCK V2.
The fact that the V1 version, which operates on decentralized exchanges like PancakeSwap, imposes a fee of 12% on sales brought about the challenges that were encountered.
LBLOCK V2 does not have any taxes, which makes it an excellent choice for CEXs and traders. On the other hand, the holders of LBLOCK V2 do not have the utility advantage of being eligible for prizes from the daily prize draw jackpot.
Additionally, you are unable to utilize LBLOCK V2 to purchase entry tickets for the daily jackpot. It is hoped that in the not-too-distant future, the jackpot product would be run by its customers in the form of a decentralized autonomous organization (DAO).
Lucky Block NFT Competitions Is Live Now! Win $1 Million Worth of Bitcoins
To participate in the NFT competitions hosted on the Lucky Block platform, consumers only have to make a purchase of an NFT from the collection that was minted particularly for the prize in question.
The holders of the NFT not only have the opportunity to win the prize, but they also continue to get benefits from the transaction fee pool for as long as they continue to own the NFT. The NFT also includes original jpeg art in its package.
There are currently a variety of prizes up for grabs all of which are worth 1 million dollars. Some of them are bitcoins, a Lamborghini, a Bored Ape Yacht Club NFT, a house and a five-star vacation (to participate in this draw, you will need to purchase a Lucky Block Platinum Rollers Club NFT).
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