Milkomeda is planning to introduce a feature that will allow seamless usage of EVM contracts for all Cardano users.
Cardano is on track to become one of the largest Ethereum Virtual Machine (EVM) chains by user count. Milkomeda recently disclosed plans to enhance the Milkomeda C1, its Cardano-based EVM sidechain, with the introduction of notable functionalities.
Sebastien Guillemot, co-founder and Chief Technology Officer of Milkomeda made the bullish disclosure in a tweet today. According to Guillemot, Milkomeda will introduce a feature allowing all Cardano users to directly use Ethereum-compatible smart contracts from any Cardano wallet.
“Cardano will be a top EVM chain next month. Milkomeda (Cardano’s EVM layer) is launching a feature allowing EVERY Cardano user to use EVM contracts directly from ANY Cardano wallet, All in pure ADA. This will instantly make Cardano one of the largest EVM chains by user count.”
Cardano will be a top EVM chain next month
Milkomeda (Cardano’s EVM layer) is launching a feature allowing EVERY Cardano user to use EVM contracts directly from ANY Cardano wallet
All in pure ADA
This will instantly make Cardano one of the largest EVM chains by user count pic.twitter.com/fp6WwdFmF4
— Sebastien Guillemot (@SebastienGllmt) March 30, 2023
This functionality will allow users to interact with dApps and other smart contract-based services on the EVM without leaving the Cardano ecosystem. Guillemot has disclosed that this will only work for dApps deployed on Milkomeda. He noted that the deployment would be easy for any dApp.
Moreover, the transactions and operations on these contracts will be conducted using ADA, further bolstering the asset’s utility. This is significant because it allows Cardano users to participate in the Ethereum ecosystem without acquiring or using ETH.
Guillemot further disclosed that, besides the above-mentioned functionality, the Milkomeda C1 would also support staking for all its EVM users, including smart contracts developers who will receive staking rewards every five days for building on the Cardano-based EVM sidechain. He implied that these features would be introduced next month.
Not only this, but it will be the largest EVM chain with staking rewards fully operational!
Milkomeda (@Milkomeda_com) is soon enabling staking rewards for all EVM users, including smart contract developers
Build in Cardano’s EVM layer and get paid automatically every 5 days!
— Sebastien Guillemot (@SebastienGllmt) March 30, 2023
The Cardano-based Milkomeda C1 EVM Chain
The Milkomeda C1 EVM sidechain is a blockchain solution that gives Cardano users the ability to interact with Ethereum-based projects. To do this, such a project must deploy on Milkomeda C1, and users will need to use a permissionless bridge to facilitate the interaction.
The need to bolster interoperability with the Ethereum Virtual Machine has become increasingly crucial to several blockchains due to the large number of useful projects deployed on the Ethereum blockchain. Sidechains such as Milkomeda C1 give users of other blockchains the opportunity to interact with these Ethereum-based dApps.
Several Cardano wallets have begun supporting Milkomeda C1, including NuFi and FlintWallet, which announced their support for the sidechain two months back.
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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