The Milkomeda Foundation has launched an EVM-compatible sidechain

​Cardano added support for applications on Ethereum

29.03.2022 - 10:40

85

1 min

What’s new? The Milkomeda Foundation has launched a “C1” sidechain compatible with the Ethereum Virtual Machine (EVM), which is directly connected to the Cardano blockchain. According to a blog post by the Milkomeda developers, the users can now move their assets between the two blockchains, enabling the deployment of decentralized Ethereum-based applications on the Cardano network.

Milkomeda’s announcement

How will Milkomeda C1 operate? To use Ethereum assets, the users have to add Milkomeda C1 to the MetaMask wallet and transfer funds from the Cardano mainnet to the new sidechain. 10 000 white-listed users can already use Milkomeda C1, with the developers stating they will open general access soon. The fund also plans to add support for the Algorand and Solana networks, which should ensure greater interoperability.

What is Cardano? It is a blockchain that was launched in 2017. The Cardano native token (ADA) is among the top ten coins by market capitalization at $36,32 billion. According to CoinMarketCap, ADA rose by more than 32% between March 22 and 29.

What is Milkomeda? It is a company that provides rollup technologies to Layer 1 networks for increased interoperability and scalability. Milkomeda deploys Solidity-based smart contracts, making them compatible with EVM.

Author:

Vasiliy Smirnov Vasiliy Smirnov

Subscribe to Getblock Magazine and stay up to date with the latest news from the world of cryptocurrencies and the digital economy