Cardano-Ethereum USDC Bridge Goes Live – Here’s What You Need to Know
Milkomeda comes to the rescue by allowing investors to transfer USDC from Ethereum to the Cardano Blockchain.
USDC may be converted from Ethereum to Milkomeda, which can then be converted to Cardano as a Cardano Native Asset.
To perform a trade, users must hold at least four milkAda tokens in their wallets, as Milkomeda and Iagon Token Bridge require. If a user's wallet does not have enough or any milkAda tokens, they can send ADA from any Cardano wallet to the EVM wallet and obtain their tokens.
JUST IN: #Cardano-#Ethereum USDC bridge is live.
— Watcher.Guru (@WatcherGuru) May 29, 2022
In its current state, the Cardano-Ethereum USDC bridge satisfies the function.
Despite the fact that four milkAda are required to complete the exchange, the smart contract only requires one milkAda as a charge. The milkAda will be stored in the EVM wallet for the time being.
Users can go to the bridge page and link their Cardano wallet after they have the appropriate tokens for the trade. Their Name or Flint wallets may be used for this. After selecting Milkomeda C1, consumers will be able to submit their ADA to the address provided.
The Lagon Token Bridge is currently undergoing beta testing. However, the state is already used to convert tokens on the Cardano and Ethereum blockchains. Users can trade ERC-20 IAG tokens for native Cardano tokens in both ways on the platform. The bridge is powered by the Milkomeda sidechain.
Cardano's ecosystem has gone a long way since its debut in 2015. After the Alonzo hard fork, which permitted the creation of dApps and smart contracts, it became a major participant in the DeFi business.
As the next hard fork approaches, Cardano's development effort has reached unprecedented heights. The index had dropped dramatically in early May, but it began to rise again as the Vasil Hard Fork event approached.
Vasil is expected to significantly improve network capacity, block transmission delay in Plutus smart contract languages, and the blockchain's "diffusion pipelining."