The next big Cardano news shows that the 2020 roadmap after the hard fork scheduled on 29 July, the platform will implement an ERC20 converter that will allow the migration of the tokens from the Ethereum network to Cardano, as we are reading more in the Cardano coin news today.
Cardano will launch an ERC20 converter that will allow the migration of the tokens from the Ethereum network to Cardano and the interoperability other blockchains such as Litecoin or Ethereum should be extended so that the transactions from Litecoin will be executed on Cardano. ADA is on schedule so the hard fork is still on. All of the Stake Pool Operators and Pioneers will migrate to the Shelley Mainnet and will start producing blocks. This is one of the most important steps so Charles Hoskinson, CEO of IOHK, is making the date as important as the milestone in his latest video update.
Hoskinson added that further listings at the exchanges will follow in August which will bring fresh capital to the market but to Cardano as well. This could lead to an increase in the ADA price as the IOHK CEO has commissioned an external company to program the ERC20 converter which will be used to migrate tokens from the ETH network to the Cardano network. The other big Cardano news include the monitoring of the interoperability until the “Native Asset Standard” is ready for deployment. The new standard corresponds with the ERC20 standard and enables the launch of the tokens on the blockchain.
Hoskinson explained that the test phase will start in September once when the infrastructure will be finished as a solid foundation. By December, developers will be able to create and execute smart contracts. The teams work according to the “ACID” motto which was designed especially for the event, and the slogan stands for “Adoption”, “Collaboration”, “Incentives” and “Deployment.” Hoskinson already announced that he could leave Cardano at some point in order to allow the ecosystem to function in a decentralized way.
By the end of the year, interoperability with other blockchains will be increased so that the transactions from Litecoin and Ethereum will be transferred without problems to ADA. This will be made possible by intelligent clients which are still under development. Cardano created a new team for the purpose which is solely concerned with the development of cross-chain communication between different ecosystems.
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