First ERC-20 Converter Goes Live On Cardano Testnet

Cardano has marked the launch of its first-ever ERC-20 converter. The project which had been in the works had finally reached its launch milestone with help from IOG, the developer behind Cardano. With the converter, the network will be able to support the migration of ERC-20 tokens from Ethereum to the Cardano blockchain. Development on the blockchain has been ramping up since the launch of smart contracts capability. The network has seen the first signs of DeFi as developers begin to test out their DApps with help from the foundation. This has inspired even more development with the community waiting with bated breaths for the day they can finally access DeFi services on Cardano. Related Reading | Here’s What Cardano Founder Charles Hoskinson Wants For Christmas AGIX ERC-20 Converter SingularityNET brings this anticipated capability to the Cardano blockchain. It tested the converter with its AGIX token. Presently, the converter is live on the testnet and users are able to move AGIX tokens from Cardano to Ethereum and vice versa using the AGIX ERC-20 Converter. This will allow for AGIX transactions on a network with a much higher transaction capacity and cheaper fees. Cardano has always been big on interoperability and this converter helps push it towards its goal of complete interoperability with other blockchains. Founder Charles Hoskinson has voiced this sentiment in the past where he explained that there would not be...