Cardano, a smart contract blockchain platform, is making significant strides towards becoming the largest Ethereum Virtual Machine (EVM) chain in the crypto industry. This ambitious goal was announced by Milkomeda, a layer 2 for non EVM blockchains. One of the key developments is the upcoming launch of a new feature that will allow Cardano users to access EVM contracts directly from their Cardano Wallet. This move has the potential to instantly make Cardano one of the largest EVM chains in terms of user count. By enabling Cardano users to interact with EVM contracts through their wallets, Cardano is creating more opportunities for developers to build decentralized applications (DApps) on the platform. This functionality is similar to how DApps are developed on the Ethereum network, which has been a popular choice for developers due to its robustness and extensive ecosystem.
In addition to the direct access to EVM contracts, the Milkomeda layer 2, also plans to introduce staking rewards for all EVM users, including smart contract developers. This means that developers who build and contribute to the Cardano network through DApps will be eligible for staking rewards, similar to ADA coin holders. This move is expected to attract more developers to the Cardano network, as they will have the opportunity to earn rewards for their contributions. As a result, Cardano has the potential to become a top choice for DApp development, further enhancing its position as a leading EVM chain. While the developments in Cardano’s integration with the EVM have generated excitement among many users and developers, there are also some who view Cardano as a standalone blockchain network and express dissatisfaction with the integration. However, it is important to note that the ability to access EVM contracts through the Cardano Wallet does not diminish Cardano’s existing features or its unique approach to blockchain technology. Instead, it provides an additional layer of functionality and interoperability, expanding the possibilities for developers and users.
Two months ago, Milkomeda C1 rolled out a bridge testnet between Ethereum and Cardano, with collaboration with Nomad, a novel interoperability protocol. When the protocol is deployed, the two blockchains can receive assets back and forth through the bridge. Additionally, Milkomeda is deployed to ensure that both the multi-blockchain and sidechain interoperability visions are achieved. Furthermore, the Milkomeda project promises in future to deliver interoperability between Cardano and other layer one blockchains, such as Solana and Algorand.
The main objective of Milkomeda C1 is to facilitate the deployment of Ethereum decentralized applications (dApps) within the Cardano ecosystem. By leveraging Milkomeda C1, developers gain access to a more efficient and cost-effective environment while enhancing the usability of ADA and other tokens built on the Cardano blockchain. To utilize Milkomeda C1, users must transfer their assets to this sidechain, through compatible wallets such as dcSpark’s, Flint Wallet or Metamask. The process of moving funds from the Cardano mainnet to Milkomeda is both inexpensive and streamlined. Once the transaction is completed, users can begin exploring and interacting with EVM dApps that are compatible with the Milkomeda sidechain. At present, there are a limited number of dApps that can be interacted with on Milkomeda. This list includes MilkySwap, OccamX, Nomad, MultiChain, Celer, and MuesliSwap. However, there are plans to enable support for more applications in the near future. While Ethereum offers a plethora of applications to users, developers may need to integrate Milkomeda support for their dApps. By integrating Ethereum compatibility, Cardano expands its ecosystem and attracts developers and users familiar with Ethereum’s vibrant community. It opens up opportunities for developers to leverage the benefits of Cardano’s scalability and security while tapping into Ethereum’s rich pool of dApps. This integration creates a bridge between two prominent blockchain networks, potentially driving increased adoption and utility for ADA and other Cardano-based tokens. Also, Milkomeda C1’s efficient and cost-effective infrastructure presents a compelling case for developers and users looking for alternatives to Ethereum’s high gas fees and scalability challenges. By offering a more streamlined experience, Cardano becomes an attractive platform for developers to build and deploy their dApps, while users benefit from a smoother and more affordable transaction process.
In summary, the introduction of Milkomeda C1 and its compatibility with Ethereum dApps is a significant step forward for Cardano, which enables developers and users to leverage the strengths of both Cardano and Ethereum, fostering cross-chain interoperability and unlocking new possibilities for innovation. As the Cardano ecosystem expands with more compatible applications, it stands to further solidify its position as a formidable player in the blockchain industry.
Cardano’s ambition to become the top EVM chain in the crypto industry is a promising development that could drive its growth and adoption in the coming months. By offering direct access to EVM contracts and staking rewards for developers, Cardano aims to attract more users and developers to its ecosystem, positioning itself as a formidable player in the DApp space.
About Milkomeda
Milkomeda is a groundbreaking new protocol that brings EVM capabilities to non-EVM blockchains, that will expand to offer L2 solutions (rollups) for several major blockchains including Cardano, Solana, and Algorand. Currently we have an EVM-based sidechain connected to Cardano – Milkomeda C1 and EVM-based Rollup connected to Algorand, called, Milkomeda A1.
Milkomeda provides non-EVM ecosystems the ability to inherit key elements such as rollups and Solidity support from EVM-based ecosystems. Developers have access to all of the tooling from the EVM ecosystem. Building, deploying, debugging, and auditing all work the same as in Ethereum. The capability for developers to port projects over from Ethereum will significantly broaden the selection of dApps available on supported L1 blockchains. Multi-chain deployed code has the same security properties, eliminating the need to do individual audits per chain and future innovations in zero-knowledge technology will be implementable as L3+ solutions on top of Milkomeda.
Milkomeda empowers startups to build on chains like Cardano, Algorand, and Solana while tapping into the talent and resources of the largest community for Solidity smart contracts.
