Iagon, a Cloud Computing Platform offering access to a decentralized IAG-powered Shared Storage Economy, made this new development known in a tweet on the 25th of May 2022. The report says that the firm aims to boost the growth and development of the Cardano ecosystem.

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Iagon tweeted, “Iagon Ethereum-Cardano #TokenBridge is launched. We believe that our solution powered by @Milkomeda_com & @nomadxyz_ contributes @Cardano development & growth.”

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

Back in April 21st, Iagon announced its migration from the Ethereum to Cardano blockchain. Around that time, it also announced that it had moved 500 million IAG tokens to Cardano, representing 50% of IAG’s total supply.

According to the Iagon team, the purpose-made token bridge was built to enable the conversion of ERC-20 IAG tokens to CNT IAG tokens, to make tokens on both Cardano and Ethereum blockchains interact.

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It’s also said that the new bridge will be powered by solutions provided by Milkomeda, a layer-2 protocol. The platform also plans to include support for other ERC20 projects.

In late March 2022, Cardano saw notable progress in its advancement in terms of interoperability after the Milkomeda Foundation announced the launch of Milkomeda C1.

Cardano CI is a Layer 2 Ethereum Virtual Machine (EVM) compatible sidechain that enables the deployment of Ethereum decentralized applications (DApps) to the Cardano blockchain.

After this development, the ADA-AGIX converter was also launched. This enabled SingularityNET token AGIX to become interoperable with the ADA, the native token of the Cardano blockchain.

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The post New Ethereum to Cardano Bridge Launches as Cardano Advances in Terms of Interoperability appeared first on Times Tabloid.

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.

Read Also: Charles Hoskinson: Lots of New Technologies Will Be rolled out on Cardano in the Next 3 to 9 Months

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.

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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.”

Read Also: Benjamin Cowen: Cardano (ADA) Could Exhibit the Same Trend of November 2020 to Breakout

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.”

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The post A New Ethereum to Cardano Bridge Launches to Provide NFT Creators with Eco-Friendly Options appeared first on Times Tabloid.