Bondly, a portable swap protocol, has announced the launch of a new Ethereum-to-Cardano bridge that is aimed at providing non-fungible token (NFT) creators with eco-friendly options.
Given the drastic increase in usage in recent months, the energy consumption issue that makes users to pay abnormal gas fees on the Ethereum network is becoming a norm. Although developers are working to correct this major issue, users will have to wait patiently for the launch of Ethereum 2.0, which would not play out until 2022.
For now, a proof-of-work (PoW) consensus algorithm that needs a large amount of energy for transactions, is still in use on the Ethereum network.
Ethereum-to-Cardano Bridge for Eco-friendly Options
Due to the unsolved issues with the Ethereum network, Bondly introduced a new solution for NFT creators that are calling for more sustainable and eco-friendly options for their works. Without losing their already minted NFTs on the Ethereum blockchain.
As announced by Bondly, the newly introduced Ethereum-to-Cardano bridge will give creators the ability to choose a more eco-friendly blockchain for their NFT creations. The bridge will enable creators to move their NFTs from Ethereum blockchain to Cardano blockchain.
As affirmed by Charles Hoskinson some time ago, Cardano blockchain is four million times more energy-efficient than Bitcoin (BTC) and Ethereum (ETH), which makes it a greener and eco-friendly blockchain for NFT creators that are concerned about the environmental impact of blockchain technology.
According to Bondly, the partnership with Input Output Global (IOG) will provide a means for NFT creators to seamlessly transfer their minted NFT from Ethereum to Cardano without the risk of paying high transaction fees.
Reacting to the new development, CEO of Bondly, Harry Liu, said:
“The creation of a cross-chain NFT bridge between Ethereum and Cardano marks a pivotal moment in the transition from legacy blockchain technology to one of the most hotly anticipated ‘third generation’ networks. As one of the pioneers of the NFT movement, we continue to play a key role in building the infrastructure that will herald the next phase of NFT evolution.”
Charles Hoskinson, the creator of Cardano, also said:
“We built Cardano with energy efficiency in mind, which is why this partnership with Bondly is so crucial. We believe that blockchain will only achieve mass adoption when end users have a seamless experience, regardless of which blockchain they are using, which is what bridges like this will achieve.”