Permissionless sidechain will allow developers to write Solidity smart contracts on Cardano
Cardan IOHK announced the release of the Ethereum Virtual Machine (EVM) alpha sidechain, which is now on testnet. The permissionless sidechain will allow developers to write Solidity smart contracts on Cardano and create EVM-enabled dApps and ERC20-enabled tokens while enjoying many benefits of Cardano.
According to an earlier blog post, the EVM sidechain will have full compatibility with Ethereum upgrades and tools, web3 wallet compatibility, the use of the proof-of-stake Ouroboros Byzantine Fault Tolerance consensus protocol and the ability to inherit security from the Cardano main chain.
Other side chains
Cardano has gone through several interoperability milestones in recent months.
Milkomeda is a sidechain protocol that supports Cardano and allows EVM-compatible smart contracts to be executed on Milkomeda C1, launched in late March. By the end of 2022, Milkomeda hopes to create interoperability between Cardano and other blockchains like Solana.
In late April, Wanchain, a decentralized interoperability platform, announced a new non-custodial, two-way cross-chain bridge that connects Cardano to another layer-1 blockchain.
Wanchain bridges already connect more than fifteen Layer 1 and Layer 2 networks. Cardano’s inclusion in this network aims to connect it to other DeFi and web3 ecosystems, broadening the potential use cases for ADA holders on other chains as well as the possibility of BTC, ETH, DOT, WAN, XRP and other coins being utilized in Cardano’s dApp ecosystem.
The AGIX ERC-20 Converter Bridge, created in partnership with SingularityNET, was also released earlier in April. Its features allow users to convert Ethereum-based ERC-20 tokens to Cardano, with the DeFi sector benefiting the most.
As previously reported, the Iagon Ethereum-Cardano token bridge went live in beta version.
At press time, Cardano’s ADA was trading down 14.19% at $0.44. According WhalesStats data, Cardano is currently facing whale buying pressure, ranking among the most bought assets in the last 24 hours.
