SingularityNET Begins Phase 2 Of The Move To Cardano

SingularityNET, a decentralized platform for artificial intelligence applications, took the vote. It was held after a Phase 2 proposal was made to the AGI token holder community to define a number of things, including moving from Ethereum to Cardano in order to achieve new network features.

SingularityNET CEO Ben Goertzel said the proposal was successfully accepted. As a result of voting, it received more than 90% (187 794 269 members) of the community votes. SingularityNET first announced its intention to move to Cardano in October 2020, citing the speed and cost issues of the Ethereum blockchain as a motivating factor.

SingularityNET will now focus on full scale expansion to the Cardano platform and issuing AGI-ADA tokens in line with the distribution model outlined in the Phase 2 whitepaper. Once the migration is complete, users will be able to switch between AGI ERC-20 and AGI-ADA.

Image: Medium