Bondly has announced a new Cardano blockchain functionality aimed at creators. Energy consumption has been a major issue on the Ethereum network, particularly given the increased usage of the blockchain in recent months. New Ethereum-to-Cardano bridge will provide NFT creators eco-friendly options. The project’s developers have been working on transitioning the network to proof of stake, but that will take another year.
In the meantime, the Ethereum blockchain still employs a proof of work mechanism, which necessitates a significant amount of energy in order for transactions to be confirmed on the network. As a result, Bondly has introduced a new solution for NFT creators who are looking for more sustainable and environmentally friendly options for their creations. However, they do not want to lose the NFTs that they have already minted on the Ethereum blockchain.
Bridging Two Worlds
Bondly claims in its announcement that its official Ethereum to Cardano bridge will allow creators to select a more environmentally friendly blockchain for their NFTs. New Ethereum-to-Cardano bridge will provide NFT creators eco-friendly options. Using this bridge, creators can move their NFT creations from the Ethereum blockchain to the Cardano blockchain.
The Cardano blockchain is four million times more efficient than Bitcoin in terms of energy efficiency. Ethereum is said to consume the energy equivalent of Columbia, whereas Cardano consumes the energy equivalent of a family home. As a result, creators who are concerned about the environmental impact of blockchain use will benefit from a greener and more eco-friendly network.
Bondly announced that through this collaboration with IOG, it will be able to provide NFT creators with a simple way to transfer NFTs minted on the Ethereum blockchain to Cardano without the risk of losing a transaction or paying high transfer fees.
Cheaper On Cardano
Creators do not have to worry about the high fees that the Ethereum network has become known for, in addition to having their work on an eco-friendly blockchain. With Ethereum hosting the majority of NFT minting, network fees have skyrocketed, leaving smaller creators who cannot afford these high fees high and dry. Cardano, on the other hand, is not in this category.
The network boasts of low transaction fees for all blockchain transactions. Furthermore; the network provides NFT creators with price predictability and stable transaction costs; which eliminates the fear of lost transactions due to not having enough gas fees to cover a transaction.
Bondly will release a special series of eco-friendly NFT on the network in celebration of the bridge’s launch in 2022. Harry Liu, CEO of Bondly, 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.”
Liu is not the only one excited about the bridge. Founder of Cardano, Charles Hoskinson, expressed support for the project. “We built Cardano with energy efficiency in mind, which is why this partnership with Bondly is so crucial,” said Hoskinson. “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.”
The founder has always believed that interoperability will be the future of the blockchain industryand the new partnership with Bondly reinforces this belief.
Source: newsbtc
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