Logo
Cardano Ecosystem

Coinnewsspan

07/07/2022

·

448 views


New Scalability Solution Cardano EVM Sidechain By IOHK

Input Out Global has introduced the Cardano EVM Sidechain, a fully decentralized scalability solution that will be the first sidechain to be built and released by Input-Output Global. The plan is to release many more sidechains to complement the...

New Scalability Solution Cardano EVM Sidechain By IOHK

Input Out Global has introduced the Cardano EVM Sidechain, a fully decentralized scalability solution that will be the first sidechain to be built and released by Input-Output Global. The plan is to release many more sidechains to complement the growth of the blockchain ecosystem.

A family of sidechains is, therefore, in the pipeline already. A set of unique features has been drawn out by the builder to highlight the specialty of the Cardano EVM Sidechain. Ethereum compatibility will remain at the core of its functioning.

It will include a bracket of pointers like:-

  • Developer tool compatibility
  • Hard fork compatibility
  • Web3.js wallet compatibility

Interoperability is possible only if the upgrades are compatible with the hard fork. The same supports applications and tools built on the network, and the EVM sidechain will retain the pointer to ensure continuing interoperability.

Users will have anonymity and data protection through the integration of Web3.js Wallet. Both elements are the grounds for Web3 technology and its adoption. Control over data is another factor to be pitched in while no third party gets involved in any of the earlier mentioned sections.

EVM Sidechain users will have access to the developer tools of Ethereum. The tools are known for enabling the storage of assets, reading the state of the ledger, and monitoring analytics, to mention a few. Overall, EVM Sidechain lowers the entry barrier for Solidity developers looking to build a product on Cardano.

The Cardano EVM Sidechain will adopt a permissionless approach to minimize fraudulent activities and strengthen the trust in the digital economy. All the members are invited to participate in the activities of a blockchain when it goes completely permissionless, standing to the reputation of a permissionless blockchain.

Security features will include state observation where nodes have readable access to the ADA stake delegation distribution from the mainchain. Another key security feature is introducing a reselection process to ensure that existing validators are reviewed regularly.

It will be led by stake pool operators responsible for selecting new validators to replace the previous group of validators.

Upgrade introduced by Input Output Global replaces the proof-of-work consensus algorithm with the OBFT consensus protocol, which is short for Ouroboros Byzantine Fault Tolerance.

A roadmap has been drawn to state that the development will be iterative, just like every other product launch. The final implementation will be phased in four stages: Standalone Testnet, Passive Sidechain, Active Sidechain, and Mainchain Deployment.

Standalone Testnet, the first stage, will allow developers to connect their EVMs to the testnet via RPC methods. It will be followed by a Passive Sidechain where the bridge will be connected, allowing the node to read the state from the testnet.

The active sidechain will be key in observing the functionalities before Mainchain Deployment is executed in the fourth stage.

AD

World’s First Multi-Token ISPO — By Genius X - Starts on 12th of September, epoch 363!

Genius X, a revolutionary launchpad and business accelerator helping Web3 startups attain speed, scale, and edge, is thrilled to announce the world’s first Multi-Token ISPO.I WANT TO KNOW MORE!


Read Original Article on Coinnewsspan

ORIGINAL SOURCE

https://www.coinnewsspan.com/new-scalabi...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


More from Coinnewsspan

See more
Cardano (ADA) Appears Bullish After an Intense Price Plunge
Coinnewsspan
Cardano (ADA) Appears Bullish After an Intense Price Plunge

09/19/2021

·

511 views

Related News

See more
WingRiders Governance Token

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)
Bringing Fixed Assets (CNFT & CNT) Lending & Borrowing to CardanoWorld’s First Multi-Token ISPO — By Genius X