Cardano users soon to have direct access to Ethereum dApps through ADA wallets
The utility of the Cardano network for users and developers will soon be expanded as they will get to EVM contracts using ADA wallets.
cryptocurrency
Highlights
- Cardano users will soon get to access EVM contracts using any Cardano wallet
- The upcoming feature will soon be released on Milkomeda
- The move will expand the platform’s utility for both the developers as well as the users
A piece of good news for Cardano users! Now its users will soon get to access EVM (Ethereum Virtual Machine) contracts using any Cardano wallet, thus expanding the platform’s utility for both the developers as well as the users.
That is because of a soon-to-be-released feature on Milkomeda, a network that links EVM contracts to blockchains like Cardano and Algorand. The move will allow all Cardano users to access EVM contracts directly from ANY Cardano wallet, states Sebastien Guillemot, CEO of Milkomeda.
He added, “Milkomeda is soon enabling staking rewards for all EVM users, including smart contract developers.” He further stated that staking rewards from Cardano products developed on Milkomeda will be paid ‘automatically every 5 days.’
What the latest feature holds?
The upcoming feature will allow Ethereum application developers to create dApps (decentralised applications) and DeFi (decentralised finance) on Cardano’s network using Solidity. It must be noted that the latter is a computer language used to code Ethereum and with the help of this feature, developers will not need to install new toolkits or learn a new language. In other words, now applications can be used with Cardano tokens instead of ether, thus increasing their utility for holders.
Experts opine that this upcoming feature on Milkomeda would be a game-changer for the blockchain industry. It will not only increase interoperability between blockchain networks but also expands the utility of the ADA network for developers and users. With the ability to earn staking rewards by accessing the EVM contracts directly from any Cardano wallet, users and developers have a lot in store.
What is EVM?
Ethereum Virtual Machine, popularly known as EVM, is created as a runtime environment for smart contracts in Ethereum. It runs on top of f the Ethereum network, meaning that all nodes reach a consensus about what code should be executed at every given time.
The main purpose of EVM is to compute the platform's state and to run and compile various types of smart contract code into a readable format called 'Bytecode.'
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