Milkomeda V2 is a game-changing upgrade for the Cardano Ecosystem and C1 sidechain, poised to unlock new possibilities and enhance the platform’s capabilities. This transformative update introduces three core features that will not only streamline interactions but also attract developers and users to the Cardano ecosystem. In this article we delve into the details of Milkomeda V2, exploring its key components and the benefits it brings to the Cardano community, with insights from Sebastien Guilletmot, CTO of dcSpark, the company behind Milkomeda’s development.

What is Milkomeda?

Milkomeda operates as a dynamic sidechain protocol with a singular mission: to elevate the value proposition of Layer 1 blockchains while magnetizing a thriving community of developers and users. At its core, Milkomeda harnesses advanced rollup technologies, effectively propelling leading ecosystems to new frontiers. It focuses on three key pillars: inter-blockchain interoperability, user experience enhancement, and developer traction — all at the Layer 2 level. This synthesis transforms Milkomeda into a catalyst, fueling the evolution of blockchain technology.

Milkomeda’s journey commenced with the launch of its first sidechain, aptly named Milkomeda C1 on Cardano. A unique feature here is the utilization of MilkADA, also known as mADA. Rather than introducing its own token, Milkomeda embraces mADA as the cornerstone asset on the Milkomeda C1 sidechain. When users transition their ADA to Milkomeda, they seamlessly receive mADA, setting the stage for a new era of blockchain innovation and accessibility.

Milkomeda V2 Upgrade

The Milkomeda V2 upgrade will include three core features.

• Wrapped smart contracts.
• Liquid staking.
• Upgrades to validator set management to make it easier to add more validators.

Wrapped Smart Contracts: Wrapped Smart Contracts (WSC) in Milkomeda V2 enable easy execution of advanced smart contracts from your regular wallet. This is achieved using a bridge called the provider object, making it simple for everyday users to interact with complex Layer 2 smart contracts, all from their familiar Layer 1 wallets. This feature allows for users to interact with solidity smart contracts directly from any Cardano based wallet, paying for the smart contract interaction and transaction fees purely in ADA.

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.

Liquid Staking: Liquid staking in Milkomeda V2 is like having your cake and eating it too. Unlike other blockchains, where staked assets can be locked up, on Cardano, your ADA always remains available for use or sale while it’s staked. This means you can enjoy staking rewards without sacrificing liquidity. Plus, Milkomeda C1 network participants will also earn rewards, paid out automatically every five days, making it a win-win for everyone involved.

Staking is not live quite yet, we reached out to Sebastien Guilletmot, CTO of dcSpark about when this can be expected on the Milkomeda C1 chain “It’s coming live soon™ V2 is not really a single update, but rather primarily these three updates that are all coming at approximately the same time. Liquid staking is already live on testnet and we’re just doing testing before the mainnet deployment.”

Upgrades to Validator Set Management: Milkomeda V2 incorporates crucial upgrades to validator set management, streamlining the process of adding new validators to the network. These enhancements are essential for ensuring the network’s robustness, scalability, and security. Simplified validator set management makes it easier for the ecosystem to expand by onboarding new validators efficiently. In essence, these upgrades bolster the overall reliability and growth potential of the Milkomeda network, ensuring that it remains a dynamic and secure platform for developers and users alike.

Overcoming Challenges: Crafting Milkomeda V2

As with any ambitious project, the development journey of Milkomeda V2 was not without its share of challenges. In this section, we’ll take a closer look at the obstacles faced by the development team and the solutions they devised, as shared by Sebastien Guilletmot, CTO of dcSpark.

Sebastien Guilletmot reflects on the development process, saying, “I guess the biggest challenge was trying to find what interface was going to be the easiest for developers to integrate.” Ensuring a smooth and user-friendly experience for developers was a top priority. The team actively engaged with integration partners, such as Milkomeda Djed and Blueshift, who played a crucial role in testing and providing feedback. Through a process of iteration and collaboration, the team fine-tuned the interface to make it as developer-friendly as possible.

On a related note, Sebastien highlights an important limitation: “It doesn’t work for hardware wallet users at the moment, as hardware wallets cannot sign messages in Cardano (yet).” This acknowledgment underscores the team’s commitment to ongoing improvements and inclusivity, recognizing that hardware wallet support is an essential aspect to address in the future.

Despite these challenges, the Milkomeda V2 team’s dedication and collaborative efforts have paved the way for a more accessible and user-friendly blockchain ecosystem. The iterative approach to development and the engagement with integration partners exemplify their commitment to delivering a seamless experience for all users, both now and in the future.

Milkomeda V2: Fueling Cardano’s Growth

Milkomeda V2 is set to revolutionize Cardano, bringing a host of innovations that will reshape the blockchain landscape. This upgrade will significantly enhance Cardano’s accessibility and appeal, positioning it as a go-to platform for both users and developers within the Cardano wallet environment.

The integration of Ethereum Virtual Machine (EVM) compatible smart contracts opens up a world of possibilities for Cardano users. It allows them to seamlessly interact with a wide range of decentralized applications (DApps), spanning from decentralized finance (DeFi) to gaming and NFTs, all from their Cardano wallets. This enhanced usability will attract a diverse user base, expanding Cardano’s reach.

Milkomeda V2 also marks a pivotal step towards mass adoption, especially in the dynamic world of Web3 gaming. The introduction of Wrapped Smart Contracts empowers users from various blockchain ecosystems to interact with blockchain-based games, such as those offered by Paima Studios on Milkomeda. This development is poised to draw a vibrant and diverse gaming community into the Cardano ecosystem, further propelling blockchain technology into the mainstream.

Moreover, Milkomeda V2 simplifies the development process, making it more enticing for developers to build and deploy their projects on the Cardano platform. The emphasis on ease of integration and a developer-friendly environment will foster innovation and growth within the Cardano ecosystem.

Additionally, the upgrade strengthens Cardano’s infrastructure by enhancing support for validators. This ensures a secure and robust network, further boosting Cardano’s credibility as a blockchain platform.

In summary, Milkomeda V2 is not just about features; it’s about propelling Cardano into a new era of blockchain technology, fostering inclusivity, and offering a user-friendly experience within the Cardano wallet environment, all while driving mass adoption through exciting opportunities like on-chain gaming and NFTs.

Conclusion

Milkomeda V2 is poised to transform the Cardano EVM Sidechain landscape with its innovative features and enhancements. The combination of wrapped smart contracts, liquid staking, and improved validator set management promises to make Milkomeda an attractive choice for developers and users looking for security, flexibility, and accessibility.

As blockchain ecosystems continue to evolve, Milkomeda V2 stands as a testament to the relentless pursuit of innovation in the decentralized world. For more information about Milkomeda, visit Milkomeda’s official website, and to learn more about dcSpark, visit dcSpark’s website. Sebastien Guilletmot’s insights have illuminated the path forward for Milkomeda V2 within the Cardano ecosystem.