Lucky Block, the NFT competition platform, announced today that the Ethereum Bridge solution will be upgraded from the Ethereum version (V2) to the BNB Smart Chain (V1) version of the live coin from October 3, 2022.
Lucky Block’s vibrant community has been waiting for the introduction of the coin since the launch of LBLOCK V2 on the LBank exchange on July 27, 2022.
Since then, LBLOCK V2 has been listed on the centralized exchanges (CEX) MEXC and Gate.io.
According to our sources, the team expects the inspection of the bridge to be completed within the next two weeks, after which it will undergo testnet testing.
Certik has audited the bridge code and penetration testing is underway.
Hackers are prone to attacking bridges because of the amounts of value they transfer between non-interoperable blockchains, and the relatively complex nature of the code involved.
The transition between LBLOCK V1 and V2 will be fluid
With the introduction of the bridge, the movement between V1 and V2 will be smooth and the price gap between the two versions of the coin should be narrow.
Lucky Block Ethereum Bridge works by allowing users to add funds to one side of the bridge by unlocking supply on the chain they have deposited to and locking supply on the chain the user makes the transfer to.
The Lucky Block team developed LBLOCK V2 due to the difficulties in obtaining the original BEP20 token (BNB Smart Chain compliant) listed on CEX.
The difficulties arose because of the 12% sales tax of the V1 version that works on decentralized exchanges like PancakeSwap.
Although the V2 version of LBLOCK has no taxes, making it well suited for CEXs and traders, it lacks the utilitarian advantage of allowing its holders to enjoy the rewards of the daily lottery prize pool. LBLOCK V2s cannot be used to purchase jackpot tickets either.
It is intended that its users will manage the proceeds of the jackpot in the form of a decentralized autonomous organization (DAO).
Win $1 million in bitcoins! Lucky Block NFT Competition Platform is Now Live
To participate in NFT competitions on the Lucky Block platform, all you have to do is buy NFT from the pledge collection specifically for each prize.
In addition to the chance to win the prize, NFT holders receive rewards from the pool of transaction fees for as long as they own the NFT. The NFT also comes with a unique jpg drawing.
Some of the prizes currently available include $1 million worth of Bitcoin, a $1 million house, a Lamborghini (you must purchase an NFT from the Lucky Block Platinum Rollers Club to enter this raffle), a five-star vacation and a Yacht Club Bored Ape NFT .