Cardano Rolls Out EVM Sidechain On Its Testnet: Report
Cardano rolls out EVM sidechain on its testnet which will be fully compatible with the Ethereum tools and upgrades while bringing more security from the Cardano mainnet so let’s read more today in our latest Cardano ADA news. The...
Cardano rolls out EVM sidechain on its testnet which will be fully compatible with the Ethereum tools and upgrades while bringing more security from the Cardano mainnet so let’s read more today in our latest Cardano ADA news.
The company behind Cardano, Input-Output announced the launch of an EVM sidechain alpha on the testnet but the layer-1 blockchain didn’t specify if such EVM compatibility will be deployed to the mainnet one day. IOHK tweeted that the initiative will enable the developers to build a solidety-based app on the Cardano network which means that Dapps developed on the ETH network can be seamlessly transferred to Cardano.
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
The Senior Content Editor at Input Output Global Eric Czuleger said the community believes in the interoperable future which allows different blockchains to communicate with each other and in regards to the latest deployment of the EVM Sidechain, he sees an opportunity to onboard new users outside of the Cardano community while not adding more complexity to the mainnet.
The growing number of layer-1 blockchains rendered the issue of cross-chain communication exceptionally crucial. As Cardano rolls out the EVM sidechain, it’s important to know that it is a decentralized computation engine that will allow smart contracts from multiple sources to interact with each other. Cardano aside, major Ethereum competitors like Avalanche, BSC, and Fantom all have their networks compatible with EVM.
In a blog post dubbed Interoperability is key to blockchain growth, IGO stated that the sidechain will enable developers to create ERC-20 compatible tokens as the users can enjoy the benefits of the low fees and the faster settlement times. According to the post, Milkomeda as a sidechain protocol supporting Cardano allows EVM-compatible smart contracts to be deployed on the C1 Sidechain connected to the Cardano main chain, and in addition, the sidechain aims to expand the interoperability between Cardano and Solana.
Charles Hoskinson is known for his views on blockchain interoperability and despite his embrace of the EVM deployment, he criticized ethereum in the past for the sole focus on smart contracts. Hoskinson argued that Cardano can do that with governance and operate with metadata and automated regulation. He called Cardano a collection of protocols that can offer economic support to billions of people in poor regions and he claimed the blockchain’s anticipated upgrade to 2.0 caused the demise of the whole network.
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