SingularityNET to Launch Its ERC-20 Converter Bridge on #Cardano Mainnet

SingularityNET has announced that its AGIX ERC-20 Converter Bridge between Ethereum and Cardano blockchain will be launching on Cardano’s mainnet on April 18, 2022. 

The company noted that it is taking important steps following the completion of an intensive testing that lasted for more than three months. 

In addition, SingularityNET stated that the AGIX ERC-20 Converter Bridge has passed all relevant security audits, a significant development that confirms the project’s transparency and commitment to protect users from malefactors. 

“Exciting news! The security audit for the ERC-20 Converter for Cardano [is complete] and no critical or major issues have been detected. We are good to go live on the mainnet on April 18!,” SingularityNET said in the announcement. 

Exciting news!

The security audit is in for the ERC-20 Converter for Cardano (@InputOutputHK) and no critical or major issues have been detected. We are good to go live on mainnet on April 18! 🔥🚀#CardanoCommunity #BuildingOnCardano #SingularityNET #Cardano

— SingularityNET (@singularity_net) April 8, 2022

Users to Convert Their ERC-20 at Low Cost

The move was applauded mainly by Cardano enthusiasts who have been having issues transacting their ERC-20 tokens due to the massive gas fees on the Ethereum network. 

With the AGIX ERC-20 Converter Bridge tipped to go live on April 18 2022, holders of Ethereum-based tokens will not be required to pay the outrageous fees on the world’s second-largest network. Conversion will be done easily with only a few clicks. 

SingularityNET’s AGIX ERC-20 Converter Testnet

On December 7, 2021, SingularityNET announced the launch of the public testnet of the AGIX ERC-20 Converter Bridge. 

The company noted that the AGIX ERC-20 testnet launch will give users early access to the converter tool, to enable them to familiarize themselves with the platform for its upcoming debut on mainnet. 

In addition, users were requested to submit the necessary feedback to the SingularityNET team to facilitate the launch of the converter solution. 

Meanwhile, SingularityNET is not the only company focused on developing a cross-chain bridge between Ethereum and Cardano blockchains. 

Last month, Milkomeda announced the launch of the Milkomeda C1, an initiative allowing Cardano enthusiasts to use Ethereum-based applications.

   
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