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Cardano Launches Converter Testnet for Project by AI Pioneer Behind Robot Sophia

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Tue, 12/07/2021 - 16:19
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Alex Dovbnya
The AGIX ERC20 converter has been launched in testnet mode
Cardano Launches Converter Testnet for Project by AI Pioneer Behind Robot Sophia
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Holders of SingularityNET's AGIX token can now ditch Ethereum and migrate to the Cardano blockchain.

According to a Dec. 7 announcement made by Input Output, its AGIX ERC20 converter has now launched in testnet mode.

ERC20 tokens can be converted into the new format and transferred to ‎EMURGO's Yoroi or Input Output's Daedalus.

SingularityNET functions as a blockchain-powered artificial intelligence marketplace that aims to enable seamless monetization of various AI services.

Its utility token was initially launched on the Ethereum blockchain under the AGI ticker. In May, it was revamped to Cardano-compatible AGIX.

SingularityNET is helmed by AI trailblazer Ben Goertzel, who is famous for working on humanoid robot Sophia while he was the chief scientist at Hong Kong-based firm Hanson Robotics.

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Goertzel said that migrating to Cardano will allow the project to add new functions:

The importance of this port for SingularityNET and the whole blockchain and AI ecosystems cannot be overestimated – it will yield not only a far faster and more economical AI network but also a massively superior foundation for adding advanced new functions to SingularityNET and moving toward realizing our vision of decentralized AGI.

The partnership between SingularityNET and Cardano was announced last September. The AI project, however, is not completely giving up on Ethereum: its users will have to pick the preferred platform.

In September, the Cardano blockchain was integrated into Grace, the SingularityNET humanoid robot nurse that aims to disrupt eldercare.

Input Output is also working on allowing users of other blockchains to migrate their tokens to Cardano.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.