The team behind the popular blockchain project has launched another significant feature for its users.
The Cardano team is not slowing down anytime soon with continuous development in its quest to make the blockchain rank among the top Layer-1 networks.
In a recent announcement, Input Output Global (IOG), the organization in charge of research and development of Cardano, noted that it has launched a permissionless Ethereum Virtual Machine (EVM) sidechain Alpha on testnet.
According to IOG, the initiative will enable developers to build different solidity-based applications on the Cardano network, as well as import their solidity apps from Ethereum to Cardano.
“We’re releasing the Ethereum Virtual Machine (EVM) sidechain alpha! (Now on testnet.) Build your Solidity-based applications on Cardano – a decentralized, permissionless, sustainable blockchain. The future is interoperable,” the IOG tweeted a couple of hours ago.
We’re releasing the Ethereum Virtual Machine (EVM) sidechain alpha! (Now on testnet.)
Build your Solidity-based applications on #Cardano – a decentralized, permissionless, sustainable blockchain.
The future is interoperable. pic.twitter.com/sCK9XIuFll
— Input Output (@InputOutputHK) June 12, 2022
IOG Teases About EVM Sidechain
Although it is not clear when the Cardano team will launch the EVM sidechain on the mainnet, it is expected that after rigorous testing, the IOG will schedule a date for a full roll out.
Meanwhile, the move to roll out the EVM sidechain was first discussed in April of this year, when the IOG published a blog post titled “Interoperability is key to blockchain growth.”
In the blog post, the EVM sidechain as well as five other Cardano sidechains were discussed.
“IOG is planning to release a new permissionless EVM sidechain this year. This sidechain will allow developers to write Solidity smart contracts on Cardano, create EVM compatible dApps, and ERC20-compatible tokens (and in time, their own sidechains) while gaining many of the benefits of Cardano,” an excerpt of the blog post reads.
IOG noted that users will benefit from faster settlements and lower fees on the sustainable blockchain.
Furthermore, the EVM sidechains will be compatible with Ethereum tools and upgrades, Web 3.0 wallets, Ouroboros consensus protocol, and the maximum security inherent in the Cardano mainchain.
A few days ago, the IOG team shared detailed steps that will help solidity developers gain early access to the EVM sidechain.
We believe in an interoperable future built on multiple blockchains.
That’s why we’re releasing the Ethereum Virtual Machine (EVM) sidechain alpha!
We welcome the #Ethereum community of users & devs to freely engage with the best of what #Cardano has to offer. pic.twitter.com/L56ArPZ4bA
— Input Output (@InputOutputHK) June 11, 2022
IOG Consistent in Releasing Upgrades
The Cardano team has always been consistent in releasing useful upgrades and features. At the moment, Cardano enthusiasts are eager for the implementation of the Vasil Hard Fork, an upgrade tipped to bolster the performance of the entire network, especially the smart contract functionality.
It is noteworthy that the Vasil Hard Fork Event is scheduled for later this month.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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