Blockchain interoperability is key to boosting technology adoption and growth for the entire space. Blockchain solutions should be accessible for everyone, regardless of the chosen protocol. However, speed of transaction processing, security properties, and scalability are critical to satisfying the needs of the crypto community. The ERC20 converter – a tool developed by IO Global – addresses these needs offering extended opportunities in terms of deploying solutions on Cardano using Ethereum-based tokens.
SingularityNET is our first partner to offer the migration of ERC20 SingularityNET (AGIX) tokens to Cardano and back to the source network.
In this initial testnet version, users can assess the AGIX ERC20 converter functionality testing the migration of tokens and benefit from a higher capacity of transaction processing, lower fees, and increased security guaranteed by the Ouroboros proof-of-stake consensus protocol. This means that token users, DeFi investors, and application developers can all enjoy the benefits of Cardano’s solid and secure ecosystem while being given the opportunity to send, receive, and build applications using Ethereum-based AGIX tokens.