This firm allows Ethereum Good Contracts on Cardano – NewsBTC

Advertisements

The Cardano smart contract era is approaching, soon the Plutus platform that will host it will be integrated into the mainnet. With this in mind, there are many changes and features that need to be introduced in the network.

Cardano inventor Charles Hoskinson kept the community informed of the progress made during the testing phase of the smart contract platform. On his Twitter account, Hoskinson recently celebrated an achievement in one of the project’s key areas, interoperability.

Blockchain-based company dcSpark announced that it is developing a “novel sidechain project called Milkomeda”. This interoperable solution will “empower” developers and users with Ethereum Virtual Machine-based sidechains.

This means that Cardano and other blockchains can take Ethereum developers on board. You will have the opportunity to migrate your projects via these sidechains and their alternative virtual machines connected to Cardano and other L1 mainnets. An official post claimed:

(…) for Cardano, Milkomeda enables the use of sidechains that are directly connected to the mainchain and use wADA (wrapped ADA) as an asset to pay transaction fees.

Ethereum Smart Contracts on Cardano! I am happy to see someone come into this pond https://t.co/DH9D1v4ahh

– Charles Hoskinson (@IOHK_Charles) August 25, 2021

The company aims to encourage users to try out a new ecosystem and will use “new technologies,” the official posts claim, such as wrapped smart contracts. This means that users and developers can use Cardano and other networks as “coordination layers”.

A smart contract can now be executed on the Milkomeda sidechain without any more complex procedures. The dcSpark team claimed that this mechanism would “bring new UX to the table” for end users.

As an example, they said that developers can execute a smart contract on the Milkomeda sidechain directly from the Cardano mainnet. This eliminates the need for additional platforms or tools such as wallets. Robert Kornacki, Chief Strategy Officer at dc Spark said:

We believe that providing such flexibility and performance to end users thanks to Milkomeda will set a new standard for some of the most promising blockchains with smart contracts and their ecosystems in general.

From Cardano to a multichain ecosystem

The team highlighted that Milkomeda will first be implemented on Cardano under the name M1. This event creates the first sidechain of this network.

It will use wADA as a base asset with existing Cardano Stakepool validators that also operate the Milkomeda validators. Nico Arqueros, CEO of dcSpark, said:

With the first introduction of the protocol and the M1 sidechain, we are pleased to be part of the bootstrapping era of the Cardano sidechain as the first step for Milkomeda. Additionally, we are excited to be at the forefront of advancing and realizing the vision of multi-VM blockchain ecosystems by bringing a new breakthrough technology to the market, packaged smart contracts.

Arqueros added that the company believes in a future where all L1 blockchains have a layer of coordination to strengthen a “diverse ecosystem” with multiple virtual machines. In the future, Solana, Cardano, and many more blockchains could have a bridge supported by their own community.

Stressed that interoperability is key to increasing blockchain adoption, Hoskinson added:

(…) we do not believe that there will be “a blockchain that rules them all”, we value the cooperation. When it comes to interoperability and scalability, sidechains are an integral part of our vision for Cardano.

At the time of writing, ADA is trading at $ 2.75 with a gain of 2.1% on the daily chart.

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


Share post on

Sonic BTC is reader-supported. When you buy through links on our site, we may earn an affiliate commission.

Enormous Cardano (ADA) Upgrade Set To Go Live, According to Developers – Here’s the Timeline – The Daily Hodl Cardano

Enormous Cardano (ADA) Upgrade Set To Go Live, According to Developers – Here’s the Timeline – The Daily Hodl

Cardano (ADA) is getting closer to launching its highly anticipated Vasil network upgrade, which...

By wpadminsonic164
No Bullish Catalysts For Cardano, Solana, XRP As Bitcoin Risks Crashing To $12,000 – ZyCrypto Cardano

No Bullish Catalysts For Cardano, Solana, XRP As Bitcoin Risks Crashing To $12,000 – ZyCrypto

advertisement     The crypto markets have been range-bound for weeks despite relatively attractive...

By wpadminsonic164
Cardano resource exchanging stage Tent incorporates COTI stablecoin DJed – CryptoNinjas Cardano

Cardano resource exchanging stage Tent incorporates COTI stablecoin DJed – CryptoNinjas

COTI, a DAG protocol optimized for decentralized payment networks, announced today that it formed...

By wpadminsonic164
Green Crypto: What Are The Cryptocurrencies That Are Kinder to Nature? – BeInCrypto Cardano

Green Crypto: What Are The Cryptocurrencies That Are Kinder to Nature? – BeInCrypto

Green crypto: The upcoming Ethereum upgrade to proof-of-stake (PoS) translates to a 99.95% energy...

By wpadminsonic164
ADA Price Prediction: Here are the Investingcube SR Indicator’s Levels – Cardano Feed Cardano

ADA Price Prediction: Here are the Investingcube SR Indicator’s Levels – Cardano Feed

The ADA price predictions remain bearish, even as the ADA/USDT pair is down for...

By wpadminsonic164
Robert Kiyosaki Awaits BTC Testing $1,100, Michael Saylor Advises Investors, Cardano Becomes Most Actively Developed Project: Crypto News Digest by U.Today – U.Today Cardano

Robert Kiyosaki Awaits BTC Testing $1,100, Michael Saylor Advises Investors, Cardano Becomes Most Actively Developed Project: Crypto News Digest by U.Today – U.Today

Valeria Blokhina U.Today's daily news digest keeps you informed of the most important updates...

By wpadminsonic164
Cardano: Ledger Expands Support to Enable ADA Accounts on Android Mobiles – U.Today Cardano

Cardano: Ledger Expands Support to Enable ADA Accounts on Android Mobiles – U.Today

Cryptocurrency hardware wallet provider Ledger is expanding its support for Cardano barely two weeks...

By wpadminsonic164
Cardano: Is ‘Hostile to Vasil’ publicity overwhelming ADA? The response lies in… – AMBCrypto News Cardano

Cardano: Is ‘Hostile to Vasil’ publicity overwhelming ADA? The response lies in… – AMBCrypto News

Cardano [ADA], the eighth-largest blockchain in the world has enjoyed huge attention from developers....

By wpadminsonic164

Latest Posts

This Only Happened 3 TIMES in 13 YEARS!! Bitcoin News Today, Bitcoin Price Prediction, Bitcoin Crash Videos

This Only Happened 3 TIMES in 13 YEARS!! Bitcoin News Today, Bitcoin Price Prediction, Bitcoin Crash

This Only Happened 3 TIMES in 13 YEARS!! Bitcoin News Today, Bitcoin Price Prediction,...

By wpadminsonic164
ETH Key Indicators Show A Sharp Drop Below $1K To Occur Ethereum

ETH Key Indicators Show A Sharp Drop Below $1K To Occur

The ETH key indicators show a sharp drop below $1K that might occur soon...

By wpadminsonic164
Enormous Cardano (ADA) Upgrade Set To Go Live, According to Developers – Here’s the Timeline – The Daily Hodl Cardano

Enormous Cardano (ADA) Upgrade Set To Go Live, According to Developers – Here’s the Timeline – The Daily Hodl

Cardano (ADA) is getting closer to launching its highly anticipated Vasil network upgrade, which...

By wpadminsonic164
Kazakhstan's Crypto-Boom? – BBC News Videos

Kazakhstan's Crypto-Boom? – BBC News

Despite their volatility, cryptocurrencies like Bitcoin have exploded in popularity in the past year...

By wpadminsonic164
Presenting the Polkadot Staking Dashboard: The Easiest Way to Nominate and Stake Your DOT Polkadot

Presenting the Polkadot Staking Dashboard: The Easiest Way to Nominate and Stake Your DOT

Staking your DOT just got a whole lot easier with Polkadot's new staking dashboard....

By wpadminsonic164
Top 5 People That Bitcoin Made Rich – TechEngage – TechEngage Stellar

Top 5 People That Bitcoin Made Rich – TechEngage – TechEngage

Bitcoin has created several millionaires and billionaires over the recent years. Find out the...

By wpadminsonic164
Cristiano Ronaldo signs NFT manage crypto trade Binance – Financial Times Binance

Cristiano Ronaldo signs NFT manage crypto trade Binance – Financial Times

Cristiano Ronaldo, one of football's biggest stars, has inked a sponsorship deal with crypto...

By wpadminsonic164
Shiba Inu and Dogecoin up 30% in Network Activity, With Number of Unique Addresses Constantly Rising – U.Today Dogecoin

Shiba Inu and Dogecoin up 30% in Network Activity, With Number of Unique Addresses Constantly Rising – U.Today

Gamza Khanzadaev Shiba Inu and Dogecoin hit seven-week highs in network activity According to...

By wpadminsonic164