Despite hurdles and criticisms, Cardano (ADA), the largest proof-of-stake (PoS) blockchain, continues to develop in its drive to compete with the industry’s most powerful blockchains, particularly Ethereum (ETH), the largest smart contract platform.
In the ecology, a new development has emerged. The first Cardano ERC-20 converter is now operational on the testnet. According to a post shared on Twitter by Input Output Global (IOG) on December 7th, 2021, AGIX tokens will be the first to benefit from decreased fees and other amazing features on the Cardano blockchain.
“OUT Currently: Our first ERC-20 converter is now live on testnet!” IOG tweeted. SingularityNet AGIX tokens will be among the first to benefit from Cardano’s decreased costs, increased transaction capacity, and improved security.”
SingularityNET, a decentralised Artificial Intelligence (AI) economic platform, similarly defined the new development as the start of a fast-expanding multi-chain decentralised AI ecosystem.
“I’m extremely excited by the emergence of the AGIX-ADA/AGIX-ETH converter onto Cardano testnet, and soon after that onto mainnet. Every revolution is carried out one step at a time, and this is the first in a series of steps whose result will be the portion of the full SingularityNET decentralized AI platform onto Cardano.”
“The importance of this port for SingularityNET and the whole blockchain and AI ecosystems cannot be overestimated – it will yield not only a far faster and more economical AI network but also a massively superior foundation for adding advanced new functions to SingularityNET and moving toward realizing our vision of decentralized AGI.”