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Timestabloid

06/12/2022

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Cardano: IOG Launches Its New Permissionless Ethereum Virtual Machine (EVM) Sidechain Alpha on Testnet

Input Output Global (IOG), the software firm behind development in the Cardano ecosystem, has recently announced the launch of its permissionless Ethereum Virtual Machine (EVM) sidechain alpha on the testnet. The new development was announced a couple of hours...

Cardano: IOG Launches Its New Permissionless Ethereum Virtual Machine (EVM) Sidechain Alpha on Testnet

Input Output Global (IOG), the software firm behind development in the Cardano ecosystem, has recently announced the launch of its permissionless Ethereum Virtual Machine (EVM) sidechain alpha on the testnet.

The new development was announced a couple of hours ago via IOG’s official Twitter handle.

Read Also: Cardano Creator: Terra (LUNA) Collapse Has Prompted a Change in Cardano’s Vasil Upgrade

IOG tweeted, “We’re releasing the Ethereum Virtual Machine (EVM) sidechain alpha! (Now on testnet.) Build your Solidity-based applications on Cardano – a decentralized, permissionless, sustainable blockchain. The future is interoperable.”

We’re releasing the Ethereum Virtual Machine (EVM) sidechain alpha! (Now on testnet.)

Build your Solidity-based applications on #Cardano – a decentralized, permissionless, sustainable blockchain.

The future is interoperable. pic.twitter.com/sCK9XIuFll

— Input Output (@InputOutputHK) June 12, 2022

It can be recalled that IOG published a blog post on the 28th of April 2022, titled, “Interoperability is key to blockchain growth”, in which about five Cardano sidechains were discussed.

The blog post, which describes the newly released alpha version of permissionless Ethereum Virtual Machine (EVM) sidechain, reads in part as follows:

IOG is planning to release a new permissionless EVM sidechain this year. This sidechain will allow developers to write Solidity smart contracts on Cardano, create EVM compatible DApps, and ERC20-compatible tokens (and in time, their own sidechains) while gaining many of the benefits of Cardano. That means users will benefit from far lower fees and faster settlement times on a more environmentally sustainable blockchain.

The key features of the EVM sidechain will be full compatibility with Ethereum upgrades and tools, Web3 wallet compatibility, the use of the proof-of-stake Ouroboros Byzantine Fault Tolerance consensus protocol, and, of course, its ability to inherit security from the Cardano main chain.

Read Also: Hoskinson to Critics: Cardano Developers Write Code Carefully To Protect Investments worth Billions of Dollars

Also on the 11th of June, IOG shared a tweet and captioned the video that explained how Solidity developers could “apply for access to the EVM sidechain alpha release.”

Captioning the video, IOG wrote, We believe in an interoperable future built on multiple blockchains. That’s why we’re releasing the Ethereum Virtual Machine (EVM) sidechain alpha! We welcome the Ethereum community of users & devs to freely engage with the best of what Cardano has to offer.”

We believe in an interoperable future built on multiple blockchains.

That’s why we’re releasing the Ethereum Virtual Machine (EVM) sidechain alpha!

We welcome the #Ethereum community of users & devs to freely engage with the best of what #Cardano has to offer. pic.twitter.com/L56ArPZ4bA

— Input Output (@InputOutputHK) June 11, 2022


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