The blockchain platform, Avalanche, deals with allegations of leveraging the law to take down its competitors. In a world that is already so divided, crypto enthusiasts are finding it difficult to transfer their assets between different blockchains and experience the benefits of all platforms. The emergence of cross-chain bridge platforms like Supontis begs the question, why should blockchain technology be kept in isolation?
What Is A Blockchain Platform?
A blockchain platform is a ledger for all cryptocurrency transactions on a peer-to-peer network. Fully decentralised, with no governing body, blockchain platforms allow users to confirm transactions without the presence and an intermediary.
The Avalanche Scandal Explained
This cryptocurrency and blockchain platform was created as a rival to Ethereum. Avalanche can provide quick transaction finalities and very low fees for its users. For this reason, it is very popular among crypto-holders, especially those who do not like Ethereum.
However, recently this blockchain platform has fallen under hot water. In August of 2022, crypto whistleblower Crypto Leaks released a paper with some defamatory accusations against Ava Labs, a developer of Avalanche.
According to the allegations, Ava Labs had made some suspicious arrangements with a law firm to misuse the legal system against other competitors. The law firm was tasked with investigating any competitors to gather dirt on them and then charge class-action lawsuits against them. The legal firms were supposedly meant to be paid a significant amount of AVAK tokens in compensation.
Both the CEO of Ava Labs and the legal firm have denied any truth to the leaks, and so far, no more news has come out of this.
What Is A Cross-Chain Bridge Blockchain Platform?
A cross-chain bridge blockchain platform, like Supontis, facilitates the cross-chain transfer of assets between different blockchain platforms (typically the most widely used one e.g Ethereum, Binance, Tron and Fantom).
Because blockchains are built in isolation with varying consensus mechanisms and rules, most cannot communicate nor transfer their tokens freely. A cross-chain bridge allows crypto holders to experience the different perks of blockchains and boost their capabilities.
Unlike Avalanche, Supontis Makes Connections
The word Supontis stems from the English word super and the Latin word pontis which translates as ‘bridge’. Currently in round 2 of its presale, Supontis is a DAO platform built on the BNB Smart Chain, enabling the cross-chain bridging of assets. And in an attitude very different to Avalanche, developers of Supontis dream of establishing peak connectivity between the users of blockchain technology.
If you wish to buy the native token of Avalanche (PON), you can do so during the presale. The initial price of 1 PON will be $0.0056. Currently, Avalanche is offering a 10% bonus to anyone who registers and makes their first purchase. There are 3 billion PON coins available for presale. However, the stages are moving fast as the demand for cross-chain bridge platforms is high among crypto-enthusiasts.
Supontis highlights a general direction the crypto market is moving in. Blockchain technology has offered the world so much potential. Unfortunately, some crypto companies want to dominate the market at all costs. It is no wonder crypto holders want a straightforward way to transfer their assets between blockchains with platforms like Supontis.
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