The parent company of the Cardano blockchain – Input-Output Hong Kong – recently announced the launch of the sidechain version of Ethereum Virtual Machine (EVM) on June 12, and the sidechain is now available on testnet.
Launching this sidechain will enable developers to build Solidity-based applications on Cardano.
The announcement came less than two months after the company published a blog post, “Interoperability is the Key to Blockchain Development,” where it discussed some of its side chains, including the disallowed EVM sidechain.
“This sidechain will allow developers to write Solidity smart contracts on Cardano and create EVM-compatible DApps, and ERC20-compatible tokens (and, in time, their sidechains) while gaining many of the benefits of this project. That means users benefit from far lower fees and faster settlement times on a more environmentally sustainable blockchain.”
This sidechain is fully compatible with Ethereum tools and upgrades. Ouroboros Byzantine Fault Tolerance Consensus Protocol, web3 wallet compatibility, and Cardano central chain security.
Meanwhile, it also tweeted a video about the EVM sidechain a few days ago, explaining how developers can access the EVM sidechain.
ADA continues to grow
With the number of interoperability upgrades on Cardano increasing, Mikomedia – a sidechain protocol – launched on the network in March.
The Cardano-based protocol allows developers to create EVM-compatible intelligent contracts that are executable on Mikomedia C1.
It is also planning to create side chains that will support interoperability with other networks such as Solana.
In addition, in April, Wanchain announced a two-way cross-chain and non-industrial bridge for Cardano. Wanchain now has bridges to more than 15 L1 and L2 networks.
Interoperability seems to be a significant focus for Cardano as it continues with its development drive. The network setup for the Vasil hard fork is expected at the end of June.
IOHK also revealed that developers are currently building more than 1000 applications on the blockchain.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Cardano launches EVM side chain alpha
The parent company of the Cardano blockchain – Input-Output Hong Kong – recently announced the launch of the sidechain version of Ethereum Virtual Machine (EVM) on June 12, and the sidechain is now available on testnet.
Launching this sidechain will enable developers to build Solidity-based applications on Cardano.
The announcement came less than two months after the company published a blog post, “Interoperability is the Key to Blockchain Development,” where it discussed some of its side chains, including the disallowed EVM sidechain.
“This sidechain will allow developers to write Solidity smart contracts on Cardano and create EVM-compatible DApps, and ERC20-compatible tokens (and, in time, their sidechains) while gaining many of the benefits of this project. That means users benefit from far lower fees and faster settlement times on a more environmentally sustainable blockchain.”
This sidechain is fully compatible with Ethereum tools and upgrades. Ouroboros Byzantine Fault Tolerance Consensus Protocol, web3 wallet compatibility, and Cardano central chain security.
Meanwhile, it also tweeted a video about the EVM sidechain a few days ago, explaining how developers can access the EVM sidechain.
ADA continues to grow
With the number of interoperability upgrades on Cardano increasing, Mikomedia – a sidechain protocol – launched on the network in March.
The Cardano-based protocol allows developers to create EVM-compatible intelligent contracts that are executable on Mikomedia C1.
It is also planning to create side chains that will support interoperability with other networks such as Solana.
In addition, in April, Wanchain announced a two-way cross-chain and non-industrial bridge for Cardano. Wanchain now has bridges to more than 15 L1 and L2 networks.
Interoperability seems to be a significant focus for Cardano as it continues with its development drive. The network setup for the Vasil hard fork is expected at the end of June.
IOHK also revealed that developers are currently building more than 1000 applications on the blockchain.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
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