Iagon said it has migrated from Ethereum to the Cardano network.
Iagon, a leading cloud computing platform, has announced its migration from the Ethereum blockchain to Cardano.
The leading cloud computing platform that offers access to a decentralized IAG-powered shared storage economy made the announcement known in a recent Twitter post.
Following the project’s migration to Cardano, Iagon noted that it has bridged more than 50% of its token supply from Ethereum to the Cardano network.
“Officially migrated to #Cardano! Today, we bridged over 50% of our token supply from Ethereum . Loving the support from the CardanoCommunity. Onwards & Upwards,” Iagon said in the announcement.
Officially migrated to #Cardano! Today we bridged over 50% of our token supply from #ethereum . Loving the support from the #CardanoCommunity. Onwards & Upwardshttps://t.co/8waztKNeks
— Iagon (@IagonOfficial) April 21, 2022
Iagon Prior Plans to Migrate to Cardano
The move may not come as a shock to many Cardano enthusiasts because Iagon has been showing signs of a possible migration to the blockchain since last year.
Recall that in September 2021, Iagon donated 10,000 units of ADA tokens to VeriTree as part of efforts to support Cardano’s Global Impact Challenge, which would contribute to the planting of one million trees globally.
Commenting on its donation at the time, Iagon said on Twitter:
“Iagon is excited to support the Cardano Global Impact Challenge! We have donated 10k ADA to support #1MillionTrees. Proof and Nominees are coming soon. Together we can build the first decentralized storage/computing platform on Cardano.”
@IagonOfficial is excited to support @Cardano #GlobalImpactChallenge!
We have donated 10k ADA to support #1MillionTrees. Proof and Nominees coming soon 🙂
Together we can build a first decentralized storage/computing platform on Cardano. #CardanoForest #CardanoSummit2021
— Iagon (@IagonOfficial) September 26, 2021
While Iagon did not clearly disclose the main reason for its migration from Ethereum to Cardano, it is evident that the latter’s use of a Proof-of-Stake (PoS) algorithm and its ability to process transactions relatively fast and at a low cost are part of the reason for the migration.
User Migration Will Occur in Two Weeks
At the moment, Iagon users cannot immediately migrate to the new platform, as the team behind the project said it is developing a “front-facing bridge” that will be available between the next one and two weeks.
However, Iagon said tech-savvy users can find their way around the migration process.
“If you are tech-savvy, you might find a way yourself, but for everyone else, we are creating a front-facing bridge for users. ETA 1-2 weeks,” Iagon added.
Cardano’s Dream Come True?
It has been the dream of the Cardano team to build the network to the point that projects will be forced to migrate from other blockchains to the network, and that dream seems to be coming to fruition.
Developers using Ethereum have complained severally about the cost of using the network, which is mostly accompanied by slower transactions and network congestion.
Interestingly, Cardano has been up and running for over five years, with the project’s developers still considering releasing more upgrades that will make the network more scalable.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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