8

Unleashing the Potential of Cardano: Direct Access to Ethereum dApps from ADA Wa...

 2 years ago
source link: https://cryptomode.com/unleashing-the-potential-of-cardano-direct-access-to-ethereum-dapps-from-ada-wallets/
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
neoserver,ios ssh client
CryptoMode Cardano Metaverse Max Keiser
Proleo.gif

In an unprecedented development, Cardano (ADA) users will soon be able to access Ethereum-based decentralized applications (dApps) directly from their ADA wallets. This breakthrough comes from a new feature on Milkomeda, an Ethereum Virtual Machine (EVM) network that is set to go live soon.

Milkomeda: Bridging the Gap Between Cardano and Ethereum

Milkomeda is a unique network designed to connect various blockchains, such as Cardano and Algorand, to EVM contracts. Launching this upcoming feature on Milkomeda will enable Cardano users to interact with EVM contracts using any ADA wallet. It significantly expands the network’s utility for developers and end-users.

Sebastien Guillemot, CEO of Milkomeda, announced the forthcoming feature, stating, “Milkomeda (Cardano’s EVM layer) is launching a feature allowing EVERY Cardano user to use EVM contracts directly from ANY Cardano wallet.”

Furthermore, Guillemot revealed that Milkomeda will soon enable staking rewards for all EVM users. That includes smart contract developers. 

Staking rewards from Cardano products built on Milkomeda will be paid automatically every five days. They provide an additional incentive for users and developers to participate in the ecosystem.

The Power of Ethereum Virtual Machines

An Ethereum Virtual Machine (EVM) is the environment in which all Ethereum accounts and smart contracts reside. It functions as a virtual computer developers use to create decentralized applications (dApps). 

When EVMs are deployed on other blockchains, they enable developers to build dApps and decentralized finance (DeFi) applications similarly to Ethereum.

With the implementation of this new feature, Ethereum application developers will be able to build on Cardano’s network using Solidity—the programming language used to code Ethereum—without needing to install new toolkits or learn a different language. 

Consequently, these applications can be exclusively used with Cardano tokens instead of Ether, thus increasing utility for ADA holders.

A New Era of Cross-Chain Collaboration

Integrating Ethereum dApps with Cardano wallets through Milkomeda’s new feature marks a significant milestone in blockchain technology. This cross-chain collaboration enhances both networks’ utility and paves the way for a more interconnected and efficient blockchain ecosystem. 

As Cardano and Ethereum continue to work together, the possibilities for innovation and growth in the decentralized application space are virtually limitless.

None of the information on this website is investment or financial advice and does not necessarily reflect the views of CryptoMode or the author. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. Always conduct your research before making financial commitments, especially with third-party reviews, presales, and other opportunities.


report

Recommend

About Joyk


Aggregate valuable and interesting links.
Joyk means Joy of geeK