3 months ago 2 min read

Evmos Now Allows ERC20 and Cosmos Chains To Use Autoconversion Features


The Evmos blockchain launched an update on January 4, 2023, which includes automatic conversions for token exchanges into and out of its ecosystem.

Ethereum apps and currencies have built-in support in the Cosmos ecosystem blockchain Evmos. Tokens will be able to flow between the two blockchain ecosystems more readily as the two ecosystems are brought together.

The most recent version 10.0 upgrade introduced automated conversions on January 4. When delivered to Evmos, native Cosmos tokens will automatically be converted into Ethereum-compatible tokens so they may be used on the platform right away and sent to Ethereum-compatible blockchains. The goal is to make transitioning between Cosmos and Ethereum and using the blockchain easier.

Users won't have to translate their Cosmos assets into the appropriate [Ethereum Virtual Machine] asset categories, and vice versa, anymore. For users, this will be completed behind the scenes!

Posted on Twitter by Evmos

The ability to transfer Ethereum-based tokens from Evmos to other Cosmos blockchains in a single transaction without manually transferring the tokens will also be available to users.

This only applies to token combinations that have been connected via the governance structure of Evmos, such as the Ethereum and Cosmos versions of the tokens. For tokens that have not been mapped in this way, there won't be an automated conversion.

A key part of the Cosmos ecosystem is IBC, a communication protocol that makes it much simpler for blockchains to send tokens to one another (a process that isn't very simple in the blockchain world). If it is made easier to exchange Ethereum tokens for tokens that are compatible with Cosmos and can be sent through IBC, there may be more interaction between the Ethereum and Cosmos-based blockchains.

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