The recent integration of Wrapped Smart Contracts (WSC) into the Milkomeda platform has dramatically expanded the possibilities for Cardano wallet holders. Now, users can seamlessly engage with a host of Ethereum Virtual Machine (EVM) compatible decentralized applications (DApps) available in the Milkomeda ecosystem, ranging from decentralized finance (DeFi) to gaming, NFTs, and more. This all brings a better user experience allowing Cardano users to interact with Milkomeda DApps natively with their Cardano wallet and help support the Cardano ecosystem in a unique and innovative way.
The Need for Wrapped Smart Contracts in Blockchain Interoperability
Prior to the WSC rollout, transferring assets between a Layer 1 blockchain like Cardano and a Layer 2 solution like Milkomeda was a complex task. The procedure often involved wrapping or bridging assets, multiple wallet management, and several other cumbersome steps.
Wrapped Smart Contracts by Milkomeda elegantly resolves these issues by facilitating a simplified, unified user journey between Layer 1 and Layer 2 chains.
How Wrapped Smart Contracts Work
WSC employs smart contracts that are deployed on Milkomeda’s Layer 2 chain but are uniquely associated with a user’s Cardano Layer 1 address. These smart contracts act as virtual accounts with balances, nonces, and the ability to process signed transactions on behalf of the user.
When connected to WSC-enabled DApps, your Cardano wallet automatically generates an EVM-compatible address. This eliminates the need to manage private keys for another account. Users can initiate and sign Layer 2 transactions using their Cardano Layer 1 accounts, removing the need for manually bridging assets or using Ethereum-based wallets to engage with Milkomeda DApps.
A massive improvement in the user experience for any native Cardano user.
Boosting Cardano’s Ecosystem through Blueshift DEX
As an added bonus, the Blueshift decentralized exchange (DEX) features the Cardano Index, a premier portfolio that reflects the dynamism of the Cardano community. This index includes promising projects like Cornicopias ($COPI), NMRK ($NMKR), VyFinance ($VYFI), and Blueshift ($BLUES), serving as a barometer of Cardano’s growing impact in the blockchain space.
WSCs allow users to interact and support the projects within the officially recognised Cardano Index directly from a wallet environment they are used to.
The introduction of Wrapped Smart Contracts on Milkomeda marks a significant step forward in simplifying cross-chain interactions and enriching the user experience for Cardano wallet holders.
As blockchain ecosystems continue to evolve, such innovations lay the groundwork for a more interconnected and user-friendly decentralized world.
We invite you to experience Wrapped Smart Contracts for yourself, simply visit our DEX, change the network to Cardano, and connect your wallet to start interacting with the Cardano Index.
NFTxLV - Sep 29 - Oct 1, 2023 | Las Vegas Convention Center
Discover the intersection of art and blockchain with NFTxLV, where the world of NFTs collides with the allure of Las Vegas, creating an unforgettable experience for collectors, artists, and enthusiasts alike.GET TICKETS!