This firm allows Ethereum Good Contracts on Cardano – NewsBTC

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.

Bexplus lists Cardano (ADA), provides 100x leverage and 100% deposit bonus – CryptoGlobe Cardano

Bexplus lists Cardano (ADA), provides 100x leverage and 100% deposit bonus – CryptoGlobe

In order to do justice to the fast growing market for Cardano ($ ADA),...

By wpadminsonic164
ADA Crypto: 15 issues to know earlier than the Cardano Alonzo arduous fork – Investorplace.com Cardano

ADA Crypto: 15 issues to know earlier than the Cardano Alonzo arduous fork – Investorplace.com

Cardano (CCC:ADA-USD) is preparing for its Alonzo hard fork and there are a few...

By wpadminsonic164
The value of ADA Cardano has elevated by greater than 11% in 24 hours – Benzinga – Benzinga Cardano

The value of ADA Cardano has elevated by greater than 11% in 24 hours – Benzinga – Benzinga

Cardanos (CRYPTO: ADA) The price is up 11.2% in the past 24 hours to...

By wpadminsonic164
“Frothy” altcoins like Cardano, Solana are worrying JPMorgan, however is there any motive? Cardano

“Frothy” altcoins like Cardano, Solana are worrying JPMorgan, however is there any motive?

The oracle of Omaha Warren Buffet once said, “Be fearful when others are greedy...

By wpadminsonic164
Is it time to watch out with Cardano?  Analyst Michaël Van De Poppe examines what’s subsequent for the explosive altcoin – The Every day Hodl Cardano

Is it time to watch out with Cardano? Analyst Michaël Van De Poppe examines what’s subsequent for the explosive altcoin – The Every day Hodl

Crypto analyst Michaël van de Poppe looks at Cardano, which, according to CoinGecko, is...

By wpadminsonic164
Cardano

Inexperienced Monday: ETH at 3-month excessive, Cardano Eyes $ 3, BNB provides 7%, BTC over $ 50,000 (Market Watch) – CryptoPotato

Bitcoin's recent rally continued for the past 24 hours as the asset reclaimed $...

By wpadminsonic164
Bitcoin eyes $ 50,000, Avalanche enters the crypto high 20 and Cardano hits new ATH – Stockhead Cardano

Bitcoin eyes $ 50,000, Avalanche enters the crypto high 20 and Cardano hits new ATH – Stockhead

Bitcoin makes another run at $ 50,000 after encountering resistance at that level early...

By wpadminsonic164
SundaeSwap clears misunderstandings amid current CoinQuora Cardano controversy – Investing.com Cardano

SundaeSwap clears misunderstandings amid current CoinQuora Cardano controversy – Investing.com

SundaeSwap clears up misunderstandings amid the recent Cardano controversy The recent upgrade has sparked...

By wpadminsonic164

Latest Posts

Uncategorized

Noboni.com: Best Girl’s Online Shopping in bd

Noboni.com is the best Bd online shopping for girls. We 🏷️ offer the latest...

By wpadminsonic164
Monero, Stellar, AAVE Value Evaluation: August twenty second – AMBCrypto Information Stellar

Monero, Stellar, AAVE Value Evaluation: August twenty second – AMBCrypto Information

Major cryptocurrencies have shown mixed trading so far, with Bitcoin reversing its losses by...

By wpadminsonic164
BITCOIN CRASH (essential add)!! MY NEW STRATEGY, BITCOIN PRICE PREDICTION & BITCOIN NEWS TODAY!! Videos

BITCOIN CRASH (essential add)!! MY NEW STRATEGY, BITCOIN PRICE PREDICTION & BITCOIN NEWS TODAY!!

BITCOIN CRASH (important upload)!! MY NEW STRATEGY, BITCOIN PRICE PREDICTION & BITCOIN NEWS TODAY!!...

By wpadminsonic164
Binance allegedly seeks authorities funding underneath regulatory strain, focusing on $ 200 billion valuation – Yahoo Finance Binance

Binance allegedly seeks authorities funding underneath regulatory strain, focusing on $ 200 billion valuation – Yahoo Finance

The world's leading cryptocurrency exchange Binance seeks government funding despite being in the crosshairs...

By wpadminsonic164
Bexplus lists Cardano (ADA), provides 100x leverage and 100% deposit bonus – CryptoGlobe Cardano

Bexplus lists Cardano (ADA), provides 100x leverage and 100% deposit bonus – CryptoGlobe

In order to do justice to the fast growing market for Cardano ($ ADA),...

By wpadminsonic164
Ethereum’s EIP-1559 improve burned $ 400 million in ETH: report Ethereum

Ethereum’s EIP-1559 improve burned $ 400 million in ETH: report

Ethereum's EIP-1559 upgrade burned $ 400 million in ETH instead of handing it over...

By wpadminsonic164
Dogecoin

Why Bitcoin, Dogecoin, Ethereum – and in addition Coinbase – are on the transfer at this time – Motley Idiot

What happened Towards the end of the week, cryptocurrency prices in Friday morning trading...

By wpadminsonic164
The transition between fiat and bitcoin Bitcoin

The transition between fiat and bitcoin

One world, two systems: Why Bitcoin and Fiat have to learn to live togetherTwo...

By wpadminsonic164