Input-OutputHongKong (IOHK), the parent company of Cardano blockchain, announced the launch of Ethereum Virtual Machine (EVM) Sidechain Alpha on June 12, adding that sidechain is now available on the testnet. ..
With this release, developers will be able to build Solidity-based applications on Cardano.
Ethereum Virtual Machine (EVM) Sidechain Alpha Released! (Currently on the test net.)
Solidity-based applications # Cardano – Decentralized, unauthorized, sustainable blockchain.
The future is interoperable. pic.twitter.com/sCK9XIuFll
— Input / output (@InputOutputHK) June 12, 2022
The announcement will be made within two months of the company’s announcement. Blog post Under the title “Interoperability is the key to blockchain growth,” he described several sidechains, including unauthorized EVM sidechains.
Some of the blog posts say:
This sidechain allows developers to write Solidity smart contracts in Cardano and gain many of Cardano’s benefits while creating EVM-compatible DApps and ERC20-compatible tokens (and eventually their own sidechains). I can do it. This means users can benefit from much lower rates and faster payment times on the more environmentally sustainable blockchain.
According to the blog post, the sidechain is fully compatible with Ethereum tools and upgrades. Ouroboros Byzantine Fault Tolerance Consensus Protocol, compatibility with web3 wallets, and Cardano mainchain security.
Meanwhile, a few days ago I tweeted a video about the EVM sidechain and explained how developers can access the EVM sidechain.
The motivation for Cardano development continues
The number of Cardano interoperability upgrades has increased significantly. Mikomedia, a sidechain protocol, was launched on the network in March.
Cardano-based protocols allow developers to create EVM-compatible smart contracts that can run on Mikomedia C1.
We also plan to create sidechains that support interoperability with other networks, such as: Solana..
In addition, Wanchain in April publication Unmanaged and bidirectional cross-chain bridges for Cardano. Wanchain currently has a bridge Connect to more than 15 L1 and L2 networks.
Interoperability seems to be an important focus for Cardano as Cardano continues to be developed. The network is set up for the long-awaited Vasil hard fork by the end of June.
IOHK also revealed that developers are currently building over 1000 applications on the Cardano blockchain.
Cardano’s ADA is one of the few digital assets that drives the general market downturn.according to CryptoSlate According to the data, the token value has increased by more than 13% to $ 0.5043 within the last 24 hours.
