In 2023, SingularityNET and World Mobile Token joined forces to integrate SingularityNET’s artificial intelligence into World Mobile Token’s blockchain-based wireless network.
Today, they finally announced that the SingularityNET bridge for World Mobile has been completed after several months of dedicated development. In this article, we see all the details.
The collaboration between SingularityNET and World Mobile Token
As mentioned, in the month of August 2023, SingularityNET and World Mobile Token announced a partnership aimed at combining the advanced artificial intelligence technology of SingularityNET with the blockchain-based wireless network of World Mobile Token.
The main goal of this collaboration was to create a seamless bridge to facilitate transactions between different blockchain networks.
Improving thus the overall functionality and accessibility of the tokens and services of SingularityNET and World Mobile.
During the following months, both teams worked tirelessly to ensure the successful integration of their technologies. Today, they are proud to announce that the SingularityNET bridge for World Mobile has been completed.
The SingularityNET bridge uses a mint and burn method to facilitate transactions between the Ethereum and Cardano blockchains.
The main goal of the bridge is to integrate the World Mobile Token (WMTx) into the SingularityNET bridge, allowing the seamless transfer of the WMTx token between Cardano and Ethereum.
This process includes the addition of the WMTx token to the existing infrastructure of the bridge.
The bridge has undergone an auditing and is ready to be used by the community that wishes to quickly and easily transfer their tokens from one blockchain to another.
It has also been developed in a modular way to allow multiple partners to easily integrate their own tokens.
Not only that, it also integrates with several of the most popular self-custody wallets, including Metamask, Nami, Eternl, Gero Wallet, and Flint.
Cardano and Ethereum: some differences in functionality
The World Mobile Token (WMTx) is the utility token that powers the World Mobile network, a cutting-edge decentralized mobile network in the DePIN space. World Mobile aims to connect the world by leveraging blockchain technology and a collaborative economy.
By becoming an AirNode operator or a token staker, anyone can earn rewards by providing telecommunications services to customers or ensuring the security of the network.
The World Mobile network is revolutionizing the telecommunications industry worth billions of dollars and is creating a more inclusive, sustainable, and privacy-respecting internet for everyone.
The completion of the SingularityNET bridge for World Mobile is therefore a testament to the commitment towards collaboration and interoperability in the sector.
It is not just a new addition to the SingularityNET token bridge, but it represents a synergy between SingularityNET and World Mobile. For the blockchain Cardano, a specific module has been developed to allow World Mobile to sign all the transactions of the bridge.
On the Ethereum side, SingularityNET provided the smart contract address to World Mobile, which then assigned the role of “Minter.” This role allows the minting and burning of tokens, essentially the fulcrum of the functionalities of the bridge.
The backend product of SingularityNET manages events on both sides of the bridge, performing necessary calculations and security checks. World Mobile will use this backend through API calls.
Every partner and organization that wishes to integrate their own token into the SingularityNET bridge is able to do so easily: the partner will sign all the bridge transactions and use the SingularityNET backend through API calls.
This infrastructure guarantees security and transparency not only for the partners of SingularityNET, but also for the token holders.
Bridge of WMTx between Ethereum and Cardano: all the steps
But how is the bridge of the World Mobile Token (WMTx) carried out between the blockchains of Ethereum and Cardano using the SingularityNET bridge?
It is emphasized that it is a direct process designed to be user-friendly and efficient. Shall we look at the steps below?
On the SingularityNET Bridge website, the first thing to do is connect your supported self-custody wallet such as Metamask, Nami, Eternl, Gero Wallet, or Flint.
Then, it is necessary to ensure that the portfolio is configured correctly to interact with the desired blockchain network (Ethereum or Cardano).
Subsequently, select the token and the network. Choose the World Mobile Token (WMTx) from the list of supported tokens. Select the source blockchain (Ethereum or Cardano) and the destination blockchain to which you wish to.
Then, it is necessary to specify the amount of WMTx you wish to ensure that it falls within the minimum and maximum limits allowed by the bridge. Then, the transaction must be approved.
Subsequently start the bridge process by clicking on the “ponte” button. The bridge will manage the minting and burning mechanism to transfer the tokens between the blockchains. Wait for the process to complete and you can monitor the status through the bridge interface.
Finally, verify the staked tokens. Once the process is completed, check that the WMTx tokens have been successfully transferred to the wallet on the destination blockchain.
Then, you can check the balance of the portfolio on the new blockchain network to confirm the success of the bridge of your tokens.
Read the full article here
