AdEx Will Support Both NEO and ERC20 Token Standards
Posted by AdEx Network on August 16th, 2017
Yesterday we announced the news of our partnership with NEO and the news got the AdEx community very excited. In this post, we will try to shed a little bit more light on this collaboration.
As we said, we evaluated the NEO ecosystem and concluded that it could be an outstanding alternative to Ethereum. This is why we took the decision for porting the AdEx Core to their blockchain.
However, this does not mean that we have lost trust in Ethereum or that we would be running away from it. The AdEx decentralized app (DApp) will support both the NEO and ERC20 token standards, i.e. it will run on both NEO and Ethereum.
We will ensure that the АDX tokens are seamlessly convertible between the two standards. The seamless NEO to ERC20 and ERC20 to NEO transfer will be carried out through Oracle smart contracts that monitor the token contract in the other blockchain.
The AdEx Core that is based on Ethereum is already live, and the one for the NEO ecosystem will be launched by the end of the year.
AdEx will work on an open-source project for a NEO smart contract that bridges ERC20 tokens with the NEO blockchain. We believe such a bridge will be greatly beneficial to the NEO ecosystem and the Smart Economy.
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