Bringing the Ethereum-Cardano bridge online

Lagoon, the platform of cloud computing decentralized had announced at the end of April the migration of ether (ETH), the cryptocurrency, to Cardano. This is a version testnet beta used for the purpose of promoting interoperability. It is a completely new solution for investors and users.

Launch of the Ethereum-Cardano bridge

It is now possible for users to link their Ethereum tokens to Cardano with Iagon Token Bridge and Milkomeda. To do this, you must have at least 4 IAG tokens in your wallet. If they don’t have enough tokens, the user can transfer ADAs to an EVM wallet and obtain IAGs. Once the tokens are available, the user can access the bridge page. Then he can connect his Cardano wallet to the Nami and Flint wallets. Then, he can select Milkomeda C1 and send the ADAs to the address indicated.

Although Iagon Token Bridge is in beta test, it allows the conversion of IAG tokens on the Ethereum and Cardano blockchain. It is a solution that allows the exchange of IAG ERC-20 into CNT IAG tokens in order to improve interoperability between different blockchains.

This is made possible thanks to the Milkomeda sidechain. The Milkomeda Foundation announced at the end of March the launch of Milkomedia C1 or Cardano C1. It is a second-layer EVM-enabled sidechain that enables the deployment of Ethereum decentralized applications in the Cardano ecosystem. After that, ADA-AGIX went live. It is a converter that allows singularityNET’s native AGIX token to become interoperable with the Cardano ADA asset.

The next launch of hard fork Vasil by Cardano

Cardano’s parent company IOHK has announced the launch of the closed public testnet phase for the end of May. The Cardano Vasi testnet launch will take place in early June. In addition, the hard fork proposal deadline on the mainnet is scheduled for June 29, 2022.

In its next update, the Vasil hard fork will introduce four different CIPs. CIP-31 or Reference Inputs, CIP-32 or Inline Datums, CIP-33 or Reference Scripts and CIP-40 or Collateral Outputs. The Vasil project honors its ambassador Vasil Dabov and must be activated between June 9-12, 2022.

Conclusion

Lagoon Token Bridge, Milkomeda and Vasil Hard Fork are solutions that aim to improve the blockchain. While the first two are bridges to facilitate the transaction between EthereumCardano, the latest aims to significantly improve the performance of Cardano. All of these updates also aim to develop connections between ecosystems and the interoperability of blockchains. Especially since in terms of percentage, Cardano is starting to have more users than the Ethereum blockchain.

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Emile Stantina

Interested in investment and financial markets after a business school in Chambéry, the passion for cryptocurrencies was obvious. The blockchain is surely the universal tool of tomorrow.

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