Automated conversions have been added to the Evmos blockchain’s latest update.
Evmos, a Cosmos ecosystem Blockchain with native support for Ethereum apps and tokens, is called Evmos. Its goal: to bring these two blockchain ecosystems together and to allow tokens to flow freely between them.
On Jan. 5, the latest version 10.0 update added automated conversions. Sending a token from the Cosmos ecosystem will convert it to an Ethereum-compatible token. It can then be used immediately on Evmos or sent to Ethereums-compatible blockchains. It is intended to streamline the use of the blockchain and move between Cosmos/Ethernet.
“Users will no longer need to convert their Cosmos. Assets into their respective [Ethereum Virtual Machine] Asset types and vice versa Users will see this under the hood! Evmos stated this on Twitter.
Users will be able to transfer Ethereum-based tokens from Evmos to other Cosmos Blockchains in one transaction, without having to swap the tokens manually.
This will only apply for token pairings — the Ethereum and Cosmos versions of the tokens — that have been associated together through Evmos’ governance system. This will not apply to tokens that aren’t mapped in this manner.
IBC is an important feature of the Cosmos eco-system. It allows blockchains to easily send tokens each other (a function that is difficult in the blockchain world). It could make it easier to swap Ethereum tokens for Cosmos compatible tokens, which can be sent via IBC. This would allow for more communication between Cosmos-based and Ethereum-based blockchains.
The upgrade also includes support for Ledger’s crypto hardware wallet and bug fixes.