BlockDAG Takes Over the Market as Beat Vesting Drops and Ethereum–Cardano Leaders Prepare to Join Next Week! CoinCentral
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Cardano community members can now give the Cardano-Ethereum USD Coin (USDC) bridge a try as it’s currently active in the beta test version.
To execute a swap as required by Milkomeda and Iagon Token Bridge, users need to hold at least 4 milkAda tokens in their wallets.
Read Also: New Ethereum to Cardano Bridge Launches as Cardano Advances in Terms of Interoperability
In a case where a user does not have enough or any milkAda tokens in his wallet, ADA can be transferred from any Cardano wallet to Ethereum Virtual Machine (EVM) wallet to get the required number of tokens.
As soon as the required number of tokens is obtained, users can then proceed to the bridge page and connect their Cardano wallet with Nami of Flint wallets. Afterward, they would need to select Milkomeda C1 and send their ADA to the address provided.
Source: iagonIagon Token Bridge Currently in Beta Test Version
As aforementioned, Iagon Token Bridge is now actively functioning, but in the beta test version. However, it’s already achieving the purpose of its creation by wrapping and unwrapping IAG tokens on the Ethereum and Cardano blockchains.
The solution, powered by the Milkomeda sidechain, allows swapping ERC-20 IAG tokens for native tokens from the Cardano to Ethereum and vice versa.
Read Also: “Where Did the ADA Go?” Hoskinson Reacts To User’s Claim of Losing 7,000 Euros after Buying Cardano
Vasil Hard Fork May Go Live On Public Testnet on June 2nd
According to glneto, a developer at Mutant NFTs, a Cardano-based non-fungible token platform, the much-anticipated Vasil Hard Fork may go live on the public testnet on June 2, 2022. While the mainnet launch is estimated to launch on June 29.
glneto tweeted, “Cardano Vasil hard fork will be available on public Testnet on June 2nd (Mainnet planned for June 29th) and here is my take of its benefits from an @epoch_art perspective.”
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Cardano has hit another interoperability milestone as the Iagon Ethereum-Cardano token bridge goes live in beta version.
Iagon Ethereum-Cardano #TokenBridge is launched
We believe that our solution powered by @Milkomeda_com & @nomadxyz_ contributes @Cardano development & growth
Time to try it – https://t.co/y96PfMPbTk#buildingoncardano #CardanoCommunity pic.twitter.com/monHzOOVU4
— Iagon (@IagonOfficial) May 25, 2022
In late April, Iagon, a decentralized cloud computing platform, announced its migration from the Ethereum blockchain to Cardano. Following that, it announced that it had migrated 50% of its token supply from Ethereum to Cardano, totaling 500 million IAG tokens.
As explained by the IAGON team, the purpose-made token bridge was built to enable the conversion of your ERC-20 IAG tokens to CNT IAG tokens, so the tokens on the different blockchains (Ethereum and Cardano) can interact.
Officially migrated to #Cardano! Today we bridged over 50% of our token supply from #ethereum . Loving the support from the #CardanoCommunity. Onwards & Upwardshttps://t.co/8waztKNeks
— Iagon (@IagonOfficial) April 21, 2022
The new bridge relies on solutions provided by Milkomeda, a Layer 2 protocol, and Nomad protocol. Iagon also hinted at a plan to include support for other ERC20 projects, if allowed.
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Cardano reached a pivotal moment in interoperability after the Milkomeda Foundation announced the launch of Milkomeda C1 in late March. Cardano CI is a Layer 2 EVM compatible sidechain that enables Ethereum dApps to be deployed in the Cardano ecosystem. Shortly after this, the ADA-AGIX converter went live, thus enabling singularityNET native token AGIX to become interoperable with Cardano’s first asset, ADA.
Cardano Vasil’s Hard Fork nears
A suggested road map given earlier by Cardano’s parent company, IOHK, indicates the end of May for the closed public testnet phase, while Vasil is expected to launch on the Cardano testnet in early June. Also, the mainnet hard fork proposal deadline has been set for June 29.
The upcoming Vasil update will introduce four different CIPs: CIP-31 (Reference Inputs), CIP-32 (Inline Datums), CIP-33 (Reference Scripts) and CIP-40 (Collateral Outputs).
ADA is trading at $0.48, down nearly 6% in the last 24 hours.
Bondly and IO Global is Launching a Ethereum-Cardano Bridge For NFTs Altcoin Buzz
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The Cardano blockchain also offers price stability and predictability in NFT creations and transfer. According to Cardano price prediction, the development of this bridge is the first step, and it will enable creators of NFTs to move their creation from the energy-consuming Ethereum to the energy-efficient Cardano platform. The blockchain engineering experts at IO Global and Bondly, who also developed the Cardano blockchain, have aimed to decrease the energy consumption in NFT transactions. The cross-chain bridge from Ethereum to Cardano will ensure this. The bridge might be ready for use by 2022.
To get a comparative value, consider this: if the energy consumption of Bitcoin and Ethereum is equivalent to that of Oman and Columbia, then the consumption of Cardano is just about what a family uses. With the price stability and predictability of Cardano, NFT creators can transfer or mint their creations with minimum risk of loss or volatility.
CEO, IO Global Speaks
Charles Hoskinson, the CEO of IO Global, said that the partnership with Bondly is crucial for the long-term goal of energy conservation as the bridge will allow NFT creators to create tokens without environmental impact. Such bridges also enable seamless and inter-operability, which will lead to mass adoption by end-users. IO Global is a product engineering company that builds blockchain products for corporations, institutions, and governments. It is into R&D and committed to upskilling people to ensure the problems faced by their respective countries are resolved. IO Global’s core beliefs are privacy, decentralization, economic identity, and financial empowerment for everyone, and it is opposed to bureaucracy and centralized control.
The BONDLY Perspective
Bondly is invested in the development of new technologies to make blockchain utilization more decentralized. It intends to make NFTs and cryptocurrencies safer and more efficient. Bondly is an end-to-end NFT platform that executes every minute step in the process of bringing authentic digital goods to the market in gaming, collectibles, music, and entertainment. Animoca Brands has acquired a stake of majority in Bondly and is planning to integrate the blockchain technology of Bondly, its NFT bridge, and launchpad into its game products. Bondly is producing a new series of eco-friendly NFTs to celebrate its alliance with Cardano. CEO Harry Liu opines that the much-awaited ‘third generation’ networks would soon be a reality with this bridge. He adds that Bondly plays a pivotal role in the development of the next phase of NFT infrastructure.