Another piece of good news for the Cardano community (ADA) when it is reported that the ERC20 converter or known as ‘ERC20 converter’ will be launched on testnet next week.
For the record, the establishment of the ERC20 converter was announced last May.
The technology introduced is intended to facilitate users and token issuers.
The ERC20 converter allows them to transfer Ethereum -based tokens to Cardano, as well as remove tokens from the network.
Cardano founder Charles Hoskinson has previously revealed more than 100 companies are ready to switch from Ethereum to Cardano when the network is fully launched.
After this also the ERC20 token can be implemented in Cardano as a native token.
For now, they are still monitoring the network situation ahead of the launch of smart contracts scheduled for September 12.
At the time of writing, the ADA posted a trading value of $ 2.58, down more than 4% in 24 hours.
