Integration of Artificial Intelligence and Blockchain Technology 🤝
In 2023, SingularityNET and World Mobile Token have combined their efforts to incorporate SingularityNET’s advanced artificial intelligence into the blockchain-driven wireless network of World Mobile Token. After several months of focused development, they have announced the completion of the SingularityNET bridge for World Mobile. This article covers all the relevant details.
Partnership Overview Between SingularityNET and World Mobile Token 🌐
In August 2023, SingularityNET and World Mobile Token revealed a strategic partnership dedicated to uniting SingularityNET’s sophisticated artificial intelligence with the blockchain-based network of World Mobile Token. The primary aim of this collaboration was to construct a fluid channel for seamless transactions across various blockchain systems.
This partnership enhances both the functionality and accessibility of the services and tokens provided by SingularityNET and World Mobile. Throughout the following months, both teams diligently collaborated to ensure effective integration of their respective technologies. They proudly announce that the SingularityNET bridge for World Mobile is now fully operational.
This new bridge employs a mint-and-burn methodology to facilitate exchange operations between the Ethereum and Cardano blockchains. The key objective of this bridge is to allow the World Mobile Token (WMTx) to transition effortlessly between both blockchains.
This undertaking includes incorporating the WMTx token into the already established framework of the bridge. Following a rigorous auditing process, the bridge is now available to the community for easy and swift transfer of tokens between different blockchain networks.
The bridge has also been constructed in a modular fashion, which simplifies the integration of additional partners’ tokens into the system. Moreover, it is compatible with several widely-used self-custody wallets, including Metamask, Nami, Eternl, Gero Wallet, and Flint.
Understanding Ethereum and Cardano: A Comparison 🚀
The World Mobile Token (WMTx) serves as the utility token that powers the innovative World Mobile network, a groundbreaking decentralized mobile network in the DePIN sector. World Mobile’s mission is to connect individuals globally by employing blockchain technology and fostering a collaborative economic approach.
By acting as an AirNode operator or participating in token staking, individuals can earn rewards for delivering telecommunications services to users or safeguarding the network’s integrity. The World Mobile network is disrupting the telecommunications industry, which is valued in billions, by creating a more inclusive, sustainable, and privacy-oriented internet for all.
The launch of the SingularityNET bridge for World Mobile signifies a strong commitment to collaboration and interoperability within the industry. It is not merely an expansion of the SingularityNET token bridge; it reflects a synergistic relationship between SingularityNET and World Mobile. A specialized module has been developed for Cardano, allowing World Mobile to effectively manage all bridge transactions.
On the Ethereum front, SingularityNET supplied the smart contract address, which was assigned to World Mobile, designating them as the “Minter.” This designation plays a crucial role in the minting and burning processes, serving as the essential pivot for the bridge’s functionalities.
The backend system from SingularityNET is responsible for overseeing events on both sides of the bridge, carrying out necessary computations and security checks. World Mobile will utilize this backend through API integrations.
Any partner or organization looking to integrate their token into the SingularityNET bridge can do so without complications: they will sign all the necessary transactions and leverage the SingularityNET backend via API calls. This structure assures both security and transparency, benefiting SingularityNET’s partners and their token holders.
Steps for WMTx Transfer Between Ethereum and Cardano 🔄
You may be curious about how the World Mobile Token (WMTx) executes transfers between Ethereum and Cardano using the SingularityNET bridge. The process is designed to be easy to navigate and efficient. Here’s a breakdown of the steps involved:
- First, visit the SingularityNET Bridge website and connect your self-custody wallet, such as Metamask, Nami, Eternl, Gero Wallet, or Flint.
- Ensure your wallet is properly set up to interact with your desired blockchain network, either Ethereum or Cardano.
- Next, choose the appropriate token and network. Select the World Mobile Token (WMTx) from the list and specify your source blockchain (Ethereum or Cardano) along with your target blockchain.
- Indicate the amount of WMTx you wish to transfer, ensuring it meets the minimum and maximum limits defined by the bridge, then approve the transaction.
- Initiate the bridging process by clicking on the “bridge” button. The bridge will manage the minting and burning mechanisms to transfer the tokens between the blockchains. Monitor the status of the transaction through the bridge interface until completion.
- Lastly, verify the staked tokens. Once the transaction finishes, confirm that the WMTx tokens have successfully arrived in your wallet on the destination blockchain.
Following this, you can check the balance of your wallet on the new blockchain to validate the successful transfer of your tokens.
In summary, the collaboration between SingularityNET and World Mobile Token demonstrates the potential of integrating advanced technologies while expanding the capabilities of blockchain networks. With seamless token transfers now possible between Ethereum and Cardano, users can experience greater flexibility and efficiency in managing their digital assets.
Sources:
World Mobile
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