How time intensive will porting ethereum smart contracts to Cardano be? This is one of the main value propositions of Cardano, but the difficulty isn’t clear to me.
For a simple contract this is easy, if a ICO Ethereum contract has xxx supply of contracts (tokens) and would like to port all tokens to the Cardano Platform what is the process? copy paste of the contract code that had been written in solidity simply begins a new token on Cardano but does not port the existing Ethereum tokens of the contract to Cardano, what is the process to move all Ethereum tokens of specific smart contracts to Cardano and how should the Ethereum contracts be burned?
That’s a good point, I never thought of that. I guess if the tokens have already been distributed on Ethereum, you’d need to have the users create a Cardano address and register it somehow so the tokens can be redistributed to the same people.
There is a technical process, I was hoping you knew how it was done so I could better understand it, my understanding as of now is that Ethereum contract (token) holders would need to send the Eth tokens to a intermediate address along with an address where they would receive the balance of their Eth tokens in Cardano platform dApps.
It will be very interesting to see the same ticker symbol on Ethereum and Cardano as smart contracts port to Cardano and some users decide not to move their tokens from Ethereum to Cardano which potentially will put them at odds with one another as part of the same network.
I look forward to watch the transition of tokens to Cardano as the Mining algorithm is not as sustainable as the POS algorithm of Cardano.
Is there any material from IOHK/Emurgo on what the process would be? Traxia have issued their token on Ethereum, so they must have something worked out for porting it over. I couldn’t find any details on that though.
some users decide not to move their tokens from Ethereum to Cardano which potentially will put them at odds with one another as part of the same network.
That would be interesting. I would think that if the tokens on the Ethereum network were abandoned by the creators they should lose their value.
It would be needed a migration, I think this is what they will do with Traxia
They would move the whole thing to Cardano
I don’t understand how Traxia would be useful for this.
No one knows yet AFAIK, as Cardano blockchain CL isnt ready so there is no info!
I mentioned Traxia because is a project that Emurgo would do the Migration from Etherium to Cardano CL Blockchain and will be useful for any other project on etherium that may be interested in Cardano CL Blockchain, it may serve as comparative, data, info …
I see. I just looked at their white paper and didn’t see any tech dev that would indicate that capacity.
They’ve said it since the beginning, Emurgo will use Traxia as a showcase example of porting from Etherium to Cardano. No particular tech dev required, just that it’s an ERC20 token, all the relevant dev is on the Cardano side.