New EOS21 protocol “Teleport” tokens between Ethereum and EOS
A Spanish software development company has successfully created a protocol that serves as a means of communication between Ethereum and EOS blockchain. The EOS21 protocol serves as a bridge between two block chains, which allows you to "teleport" Ethereum ERC 20 tokens to EOS without loss of functionality .
This company has created a protocol that allows communication between Ethereum and EOS. The team explains that they created the code to achieve real transfer of tokens, and not simple cloning of tokens. This process was called “Teletransportation” because this term is very similar to what they want to achieve.
The so-called "Teleportation" is achieved by destroying the tokens of one blockchick, which must be immediately created in another. This avoids the artificial number of tokens on two chains and ensures a satisfactory exchange of a block chain:
“In the EOS21 protocol, we provide another option for ERC20 contracts that do not have a built-in pause / expiration function, but who want to transfer their token to another chain. We call this action: teleportation. In order to teleport a token from one chain to another, it will exist in the destination chain, but no longer exists in interchangeable form in the source chain. ”
The team is confident that the development of this technology can contribute to the growth of both units, acting as an important tool to ensure their interoperability:
“Recently it has become clear to us that one particular development is important, and this is inter-unit communication and interoperability.”
How would empowering developers to be able to move their tokens to any chain they wanted?
In any chain, they best met the needs of their particular project. It is widely known that each blockchain offers certain qualities that make it more attractive depending on the needs of the dApp developer.
The company urges to adapt its technology to other block chains with similar characteristics, such as XRP / XLM.
Site source: https://ethereumworldnews.com
Article translated and published: Leonid Shchekutev, analyst at Freedman Club Crypto News
