Bondly has introduced a new creator-focused feature for the Cardano blockchain. Energy consumption has been a significant issue for the Ethereum network, particularly in light of the blockchain's growing use during the last few of months. The project's developers have been working on transitioning the network to proof of stake, but that will take another year.
Meanwhile, the Ethereum blockchain continues to employ a proof of work technique, which needs a significant amount of energy to validate transactions on the network. As a result, Bondly has provided a new alternative for NFT designers seeking more sustainable and environmentally friendly solutions for their works. However, they do not want to forfeit the NFTs already generated on the Ethereum network.
Bringing Two Worlds Together
Bondly claims in its release that its official Ethereum to Cardano bridge would let developers to use a more environmentally friendly blockchain for their NFTs. This bridge enables creators to transfer their NFT projects from the Ethereum blockchain to the Cardano blockchain.
Cardano's blockchain is four million times more energy efficient than Bitcoin. Ethereum is reported to use the energy equivalent of Columbia, while Cardano consumes the energy equivalent of a single family home. As a result, innovators concerned about the environmental effect of blockchain usage will benefit from a more green and eco-friendly network.
Bondly stated that its cooperation with IOG would enable NFT developers to easily move NFTs produced on the Ethereum blockchain to Cardano without the danger of a transaction being lost or incurring excessive transfer costs.
Cardano Is More Affordable
Additionally to working on an eco-friendly blockchain, artists avoid the exorbitant costs associated with the Ethereum network. With the bulk of NFT minting taking place on Ethereum, network costs have skyrocketed, leaving smaller producers out in the cold. This is not the case, however, with Cardano.
The network touts very reduced transaction costs for all blockchain-based transactions. Additionally, the network provides pricing predictability and steady transaction prices to NFT developers, which eliminates rising fees and the risk of missing transactions owing to insufficient gas fees to fund a transaction.
Bondly will offer a unique series of eco-friendly NFT on the network in commemoration of the bridge's inauguration in 2022. "The establishment of a cross-chain NFT bridge between Ethereum and Cardano represents a watershed point in the shift from legacy blockchain technology to one of the most eagerly awaited 'third generation' networks," stated Harry Liu, CEO of Bondly. As a pioneer of the NFT movement, we continue to play a critical role in laying the groundwork for the next phase of NFT advancement."
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