The era of Cardano smart contracts is approaching, and the Plutus platform, which will host them, will shortly be merged into the mainnet. As a result, there will be numerous updates and features introduced to the network.
Cardano's creator, Charles Hoskinson, has been keeping the community up to date on the smart contract platform's progress. Hoskinson recently acknowledged a success on an area of concentration for the project, interoperability, via his Twitter account.
dcSpark, a blockchain startup, has revealed that it is working on a "new sidechain initiative called Milkomeda." With Ethereum Virtual Machine-based sidechains, this interoperable solution will “empower” developers and users.
Via his Twitter account, Hoskinson recently celebrated an achievement in an area of interest for the project, interoperability. The blockchain As a result, Ethereum developers will be able to join Cardano and other blockchains. They will be able to move their projects to Cardano and other L1 mainnets using these sidechains and their alternative virtual machines. According to an official statement:
"For Cardano, Milkomeda will enable the deployment of sidechains that connect directly to the mainchain and use wADA (wrapped ADA) as the transaction fee asset.
According to the official post, the company plans to employ "new technologies," such as Wrapped Smart Contracts, to entice people to try out a new ecosystem. Cardano and other networks can thus be used as "coordination layers" by users and developers.
Meanwhile, a smart contract can be executed on the Milkomeda sidechain without any further steps. This method, according to the dcSpark team, will "bring unique UX to the table for end-users."
Developers will be able to execute a smart contract on the Milkomeda sidechain straight from the Cardano mainnet, for example. Additional platforms or technologies, like as wallets, are no longer required. dc Spark's Chief Strategy Officer, Robert Kornacki, said:
Milkomeda, we believe, will set a new standard for some of the most promising smart contract enabled blockchains and their ecosystems at large by delivering such freedom and power to end users.
The Evolution of Cardano Into A Multichain Ecosystem
Milkomeda will be first implemented on Cardano under the moniker M1, according to the developers. The first sidechain for this network will be created as a result of this event.
It will employ wADA as a basic asset, with Milkomeda validators operating on existing Cardano stake pool validators. dcSpark's CEO, Nico Arqueros, said:
We are pleased to be a part of bootstrapping Cardano's sidechain era as a first step for Milkomeda with the initial introduction of the protocol and the M1 sidechain. Furthermore, by introducing wrapped smart contracts, a game-changing piece of technology, we are pleased to be on the cutting edge of realizing the goal of multi-VM blockchain ecosystems.
Arqueros went on to say that the company envisions a future in which all L1 blockchains have a coordinating layer that helps to strengthen a "diverse ecosystem" with numerous virtual machines. In the future, Solana, Cardano, and many other blockchains may have their own community-supported bridge.
Interoperability, according to Hoskinson, is critical for increasing blockchain adoption.
(...) We don't believe there will be a "one blockchain to rule them all," but rather place a premium on collaboration. Sidechains are a critical component of our Cardano goal for interoperability and scalability.
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