What Makes Cardano the Most Anticipated Smart Contract Platform in the Blockchain Space

Tobi Loba — Sun, 28 Nov 2021 07:54:55 +0000

Robert Tran, the COO of Bondly Finance that signed a partnership with Cardano a couple of weeks ago, has stated that Cardano (ADA), the largest proof-of-stake (PoS) blockchain, is literally the most anticipated smart contract platform in the blockchain space.

The partnership was signed last month to build a cross-chain bridge between the network and Ethereum, as entertainment companies work to mitigate the environmental impact of blockchain, which is their primary criteria for choosing a network.

Describing the energy consumption of Ethereum, Robert Tran said:

“One transaction on Ethereum literally uses as much power as the conventional hospital uses in a day and a half. It’s simply just not sustainable.”

Cardano Could Be a Lasting Solution

Tran also described how Cardano cross-chain could help in easing the energy consumption concerns. He said, “The bridge has the potential to literally divert a significant portion of these transactions that are happening underneath onto the Cardano chain and that’s massive.”

According to the COO of Bondly Finance, there are other factors that are attracting projects to build on top of the Cardano blockchain.

Robert Tran noted:

“Environmental concerns and the speed of transactions we feel will be key drivers in onboarding major consumer brands in the future. The other one is you know our view as a company but the future of blockchain is interoperability.”

Tran further added that “Bondly has been built as an interoperable transparent portable swap protocol and we feel that this is the future of NFTs and Cardano is literally the most anticipated smart contract platform in the blockchain space.”

Cardano’s NFT Maker Has Made over a Hundred Thousand NFTs

During a recent Cardano 360 session, Josh Miller, Cardano’s commercial NFT lead, highlighted the various achievement recorded in relation to NFT on Cardano since the launch of Alonzo on the mainnet.

According to Miller, Cardano’s NFT maker has already made over a hundred thousand NFTs, most of which are built on Marketplaces native to the Cardano blockchain. The biggest of these marketplaces is CNFT, which is already a big rival to Ethereum.

Miller said, “We’re seeing a lot of tech come online… we’re seeing explosive growth in the CNFT community.”

He said CNFT recently attained a hundred thousand registrations in the Cardano community, including the minting of 1.7 million NFTs and 1.5 million of ADA traded within the ecosystem. These serve as an indication that the ecosystem is growing rapidly.

Miller also pointed out that the one major reason behind the growth of Cardano NFT products is the diminishing of Ethereum’s role in the sector.

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The post What Makes Cardano the Most Anticipated Smart Contract Platform in the Blockchain Space appeared first on Times Tabloid.

A New Ethereum to Cardano Bridge Launches to Provide NFT Creators with Eco-Friendly Options

Tobi Loba — Tue, 26 Oct 2021 02:26:04 +0000

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.”