A new EOS protocol, called EOS21, allows the Ethereum and EOS blockchains to communicate with each, and “teleport” Ethereum tokens to the EOS blockchain without any loss in functionality.
Announcing the #EOS21 Protocol: Teleport Your ERC20 Tokens to #EOS. A step toward #blockchain interoperability. https://t.co/DLpo1dbg4l @EOS_io @ethereum #developers #dapp #blockproducer #womeninblockchain
— shEOS (sheos21sheos) (@sheos_org) October 11, 2018
The protocol has been developed by Spanish software company shEOS, which is dedicated to EOS development. The team believes that interoperability is a key requirement in blockchain development.
The team said in a blog post:
How empowering would it be for developers to have freedom to move their tokens to any chain they wanted to? To any chain they felt best addresses the needs of their particular project. It’s widely known that each blockchain offers certain qualities that make it more appealing depending on the needs of the dApp developer.
How the EOS21 Protocol Works
The protocol functions by destroying Ethereum tokens and subsequently creating them on the EOS blockchain. Once teleported to the destination chain, the token will no longer exist in a fungible form on the source chain.
Under consideration for future development are also bi-directional travel of tokens and transfer of token between EOS sister chains. The team is encouraging developers to customize, review and fork the code. The EOS21 protocol’s GitHub page offers more details.
Blockchain interoperability is one of the many fundamental features that are an absolute requirements for the growth of the industry. If distributed ledgers are intended to create flexible, free-flowing and highly organic economies, then the ability of the ledgers to communicate with each other has a very important role, allowing these independent ecosystems to cooperate with each other, instead of competing.
However, whether or not the ability to migrate tokens between EOS and Ethereum will help or hinder either platform is indeterminable. The development is still far too early to make such a conclusion.
shEOS is an a largely female blockchain development team, standing out in a space that is still, for the most part, dominated by men.
As the company vision states:
We are committed to ending the gender gap for women in finance and technology. It is at the core of our mission to increase the amount of women in the EOS community. We are dedicated to educating and encouraging women to become developers and to build in the EOS platform.
Women have been making efforts to ensure that the innovation is not determined by men alone, with the Women in Blockchain Global conference and Women on the Block giving them the space to make their own mark on the future.