ERC-20 tokens have been going places for some time now. However, at this point in time, they’re a step closer to going native on Cardano. At press time, the sixth-biggest blockchain by market cap had some big news to share, courtesy of its developer arm IOHK.
Cardano founder Charles Hoskinson revealed that an ERC-20 converter testnet is now up and ready for the community to try. Using the AI service provider SingularityNET and its AGIX token, testnet users can make the most of a permissioned bridge to transfer these tokens between Ethereum and Cardano.
The statement from IOHK highlighted the need for blockchain interoperability. It added,
“We are currently building out and collaborating on multiple bridges to connect Cardano to other blockchains, and this first converter is a vital artery in this system. The more these connections grow, the higher the network effect to boost the flow of liquidity within the Cardano ecosystem.”
