Cryptos

This company allows Ethereum smart contracts to be created on Cardano

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The dawn of Cardano smart contract era is near, and soon the Plutus platform which will host them will be integrated in the mainnet. There are many features and changes that will be launched on this network.

Charles Hoskinson is the Cardano inventor and updated the community regarding the progress made during the test phase of the smart-contract platform. Via his Twitter account, Hoskinson recently celebrated an achievement in an area of ​​interest for the project, interoperability.

The blockchain-based company dcSpark announced that it is creating a “new sidechain project called Milkomeda”. This interoperable solution will “empower” developers and users with side chains based on Ethereum Virtual Machine.

Cardano and the other blockchains will be able enable developers to embark Ethereum. These sidechains will enable them to migrate their projects to Cardano and other L1 networks. Official post Claim:

(…) For Cardano, Milkomeda will allow the deployment of sidechains that connect directly to the main chain and use the WADA (wrapped ADA) as an asset to pay transaction fees.

According to the official publication, the company wants to encourage users to explore new ecosystems and use “new technology”. Thus, users and developers can take advantage of Cardano and other networks as “layers of coordination”.

A smart contract can be executed on Milkomeda’s side chain in the interim without any additional steps. According to the dcSpark team, this mechanism will “bring a new UX to end users.”

They stated that developers would be able run smart contracts on the Milkomeda sidechain directly from the Cardano mainnet. This eliminates the need to use additional platforms or tools such as wallets. Robert Kornacki is the Director of Strategy at dc Spark.

We believe that Milkomeda will set a new standard in providing end users with such flexibility and power, which will be a boon for many of the most promising smart-contract-enabled blockchains.

From Cardano to a multichain ecosystem

The team pointed out that Milkomeda was first implemented on Cardano, under the name M1. This will be the first sidechain created for this network.

It will use AMA to complement the existing Cardano stake pools validators, as well as Milkomeda validators. Nico Arqueros CEO of dcSpark said:

We are proud to have been part of the Cardano sidechain era’s launch, along with the M1 sidechain. This is the first step in Milkomeda’s history. We are also excited to bring new technology to the table, wrapped smart contract, and help make multi-VM blockchain ecosystems a reality.

Arqueros added that the company believes in a future where all L1 blockchains have a coordination layer to strengthen a “diverse ecosystem” with multiple virtual machines. Future Solana, Cardano, and many other blockchains may have a bridge supported in part by their own communities.

Hoskinson noted that interoperability is crucial to increasing adoption of blockchain technology and added:

(…) We do not think that there will be “one blockchain to govern them all”, and rather value collaboration. Cardano’s vision is incomplete without side chains when it comes to interoperability or scalability.

ADA is currently trading at $ 2.75, with a 2.1% profit per day.

ADA on a rally on the daily chart. Source: ADAUSDT Tradingview




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