- The decentralized AI innovator, the SingularityNET platform, is now interoperable with the leading blockchain network Cardano.
- The two tokens on distinct blockchains, Ethereum and Cardano, can interact via a purpose-made bridge, highlighting the community enthusiasts.
- Cardano and SingularityNET have been partnering since the Quarter four of 2020
Cardano (ADA), the high-performance blockchain and a competitor to many others, receives a two-way token bridge to SingularityNET, the AI innovator and its long-term partner.
SingularityNET’s native token AGIX is now seamlessly interoperable with Cardano’s first asset ADA, as highlighted by the decentralized AI network’s social media channels.
The community advocates elaborated that the two tokens on distinct blockchains, which are Ethereum and Cardano, can interact with each other via a purpose-made bridge.
This newly rolled out bridge has been going through stress tests since December last year. And now it is finally out for the general public to use in Ethereum and Cardano mainnets.
Both of the entities have been partnering since Quarter four of 2020. In fact, SingularityNET also considered ditching Ethereum, which is the largest platform that hosts smart contracts as its technical basis.
The website claims that SingularityNET is the world’s first decentralized AI Platform and Marketplace. It is a blockchain-based marketplace that aims to experiment with artificial intelligence.
The platform is profoundly known for being the most ambitious humanoid product to date as it stays behind the development and maintenance of Sophia the robot. Along with Cardano (ADA), it also promotes and develops Grace. The robotic nurse speaks English and Korean and can be utilized for eldercare and general healthcare.
Cardano is a third-generation blockchain platform that operates by the Proof-of-Stake model and remains a strong competitor to the vast Ethereum network. Its native cryptocurrency ADA is designed to enable the participation of the network’s users in its operations.
A bridge is basically a link that facilitates the transfer of tokens from one chain to another. Cardano has indeed taken a crucial stepping stone towards enhancing its interoperability.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.