Skip to content
Herald Sheets

Herald Sheets

Live Cryptocurrency News

Follow Herald Sheets on Twitter, Facebook, Telegram, Please Read Our Disclaimer

  • Homepage
  • Start Trading
  • Guide
  • Crypto News
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Ripple (XRP)
    • Dogecoin (DOGE)
    • Cardano (ADA)
    • Litecoin (LTC)
  • Analysis
  • Blockchain
  • Mining
  • Reviews
    • Brokers
    • Exchanges
  • Regulation
  • Press Release
  • About Us
    • Contact Us
    • Privacy Policy
    • Submit Press Release
  • Disclaimer
  • Blockchain
  • News

Cardano (ADA) ERC-20 Converter on the Verge of Entering Testnet Phase

Tobi Loba May 18, 2021 2 min read
Yahoo Finance Highlights How Cardano Is Impacting Everyday Life

On a daily basis, Cardano (ADA) moves closer to the much-awaited era when smart contracts functionality will be deployed on the network.

Before this phase finally arrives, the ERC-20 converter, a token migration bridge, has to advance into the testing phase. This token migration testnet is nearing deployment as confirmed by the project manager at Input Output Global (IOG), the software firm behind the development of Cardano (ADA).


trade now

Read Also: Important Factors That Will Contribute to the Success of Cardano (ADA) in Africa

Going by a blog post published on IOG official website on 17th May 2021, Landino pointed out that the ERC-20 converter tool will make the migration of Ethereum-based tokens to the Cardano blockchain seamless. The ERC-20 converter will be deployed officially on the network after the Alonzo hard fork, which is expected to bring smart contracts functionality to Cardano.

In the blog post, Landino noted:

“The ERC20 converter testnet is now in the final stages of quality assurance testing before the public launch. This stage will allow us to test the user journey and improve their experience along with fixing any occurring issues…

Read Also: Charles Hoskinson: Over 10,000 Tokens on Cardano Will Go Commercial Once We Turn On Smart Contracts

“Once deployed, users of supported Ethereum tokens will be able to bring them over from Ethereum’s congested network and take advantage of Cardano’s transaction capacity and lower fees, while enjoying enhanced security, reduced cost, and interoperability.”

According to the IOG product manager, the token migration tool is an integral part of the plan to utilize the advantage that Cardano currently has over Ethereum in terms of scalability and transaction costs.

With the ERC-20 token converter, crypto projects will be able to move their native tokens to the Cardano chain seamlessly. The blog post also pointed out that the Cardano analog will possess the same value as the Ethereum-based coin. The process is also designed to be reversible via the baked-in two-way convertibility.

Read Also: Cardano (ADA) Flawlessly Beats Bitcoin, Gold, and Banking System In Terms Of Energy Efficiency

Going by the announcement, SingularityNET will be the first crypto project to use the token migration tool and the new asset will have an AGIX ticker.


Follow us on Twitter, Facebook, Telegram, and Download Our Android App

Trade Now

HeraldSheets.com produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us easily with Herald Sheets Facebook Messenger App. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

Continue Reading

Previous: Elon Musk Loses World’s Second-Richest Position after losing $3.16 Billion in A Day
Next: Julian Michaels to Mark Cuban: Dogecoin Over Cardano (ADA) Is Like Choosing a Porn Star over Sophia Lauren

Related Stories

DeFiLlama is Facing an Internal Disagreement on the Matter of Forking the Blockchain Project
3 min read
  • Blockchain
  • Cryptocurrency
  • DeFi (Decentralized Finance)
  • News

DeFiLlama is Facing an Internal Disagreement on the Matter of Forking the Blockchain Project

March 30, 2023
Goldman Sachs Names Bitcoin the Best Performing Asset as Per Year-to-Date Evaluation
3 min read
  • Bitcoin (BTC)
  • Cryptocurrency
  • News
  • On-chain Data & Analysis
  • Price Analysis

Goldman Sachs Names Bitcoin the Best Performing Asset as Per Year-to-Date Evaluation

March 30, 2023
Cardano’s Rising TVL Value Fails to Pump ADA Price
3 min read
  • Altcoins
  • Blockchain
  • Cardano (ADA)
  • Cryptocurrency
  • DeFi (Decentralized Finance)
  • News
  • On-chain Data & Analysis
  • Price Analysis

Cardano’s Rising TVL Value Fails to Pump ADA Price

March 29, 2023

Top 10 Crypto

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$28,441.00
4.16%
ethereum
Ethereum (ETH)
$1,796.38
1.14%
tether
Tether (USDT)
$1.00
-0.02%
binancecoin
BNB (BNB)
$314.56
0.29%
usd-coin
USD Coin (USDC)
$1.00
0.03%
ripple
XRP (XRP)
$0.55
4.59%
cardano
Cardano (ADA)
$0.380997
3.32%
dogecoin
Dogecoin (DOGE)
$0.075791
2.61%
binance-usd
Binance USD (BUSD)
$1.00
0.10%
polkadot
Polkadot (DOT)
$6.20
2.22%

Recent Posts

  • DeFiLlama is Facing an Internal Disagreement on the Matter of Forking the Blockchain Project
  • Goldman Sachs Names Bitcoin the Best Performing Asset as Per Year-to-Date Evaluation
  • Cardano’s Rising TVL Value Fails to Pump ADA Price
  • Congressional Hearing On Cryptocurrency Policy Puts SEC Chief Gary Gensler On the Hot Seat
  • DWF Labs Invests $40 Million In Fetch.ai To Deploy Decentralized Machine Learning
  • Hydra Ventures DAO Fund Raises $10M In New Funding Round
  • FTX’s $45M Bankruptcy Asset Sale Delays Embed Divestment Process
  • MetaMask Warns Users Of Fake Airdrop Rumors
  • Microsoft is Testing a Built-in Crypto Wallet for its Edge Web Browser
  • YouTube Influencers to Face Class Action Lawsuit for Promoting FTX
  • Singaporean Women Outperforms Men In Crypto Gains – Survey
  • Modification Of Crypto Banking Rules Possible If Market Reacts Strongly – Basel Committee Chair
  • Irene Zhao’s Crypto Social App Announces Fresh Fund Raise Of $4.5 Million 
  • What is a Network Effect and How Does It Work?
  • Circle Plans To Introduce Its USDC Stablecoin On The Cosmos Blockchain Network

Categories

You may have missed

DeFiLlama is Facing an Internal Disagreement on the Matter of Forking the Blockchain Project
3 min read
  • Blockchain
  • Cryptocurrency
  • DeFi (Decentralized Finance)
  • News

DeFiLlama is Facing an Internal Disagreement on the Matter of Forking the Blockchain Project

March 30, 2023
Goldman Sachs Names Bitcoin the Best Performing Asset as Per Year-to-Date Evaluation
3 min read
  • Bitcoin (BTC)
  • Cryptocurrency
  • News
  • On-chain Data & Analysis
  • Price Analysis

Goldman Sachs Names Bitcoin the Best Performing Asset as Per Year-to-Date Evaluation

March 30, 2023
Cardano’s Rising TVL Value Fails to Pump ADA Price
3 min read
  • Altcoins
  • Blockchain
  • Cardano (ADA)
  • Cryptocurrency
  • DeFi (Decentralized Finance)
  • News
  • On-chain Data & Analysis
  • Price Analysis

Cardano’s Rising TVL Value Fails to Pump ADA Price

March 29, 2023
Congressional Hearing On Cryptocurrency Policy Puts SEC Chief Gary Gensler On the Hot Seat
3 min read
  • Binance
  • Blockchain
  • Crypto Trading
  • Cryptocurrency
  • Decentralized Cryptocurrency Exchange (DEX)
  • News
  • Regulation

Congressional Hearing On Cryptocurrency Policy Puts SEC Chief Gary Gensler On the Hot Seat

March 29, 2023
Copyright © All rights reserved. | DarkNews by AF themes.
  • RelevantRelevant(REL)$0.825.35%
  • TadpoleTadpole(TAD)$7.32-1.74%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184213-2.11%
  • SakeTokenSakeToken(SAKE)$0.0127135.28%
  • WTF TokenWTF Token(WTF)$0.0113500.17%
  • BNSD FinanceBNSD Finance(BNSD)$0.005461-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%