The Permissionless Ethereum Virtual Machine(EVM) Sidechain Alpha Now On Testnet: IO Global
In a recent tweet, it was made known that the Cardano research and development firm, IO Global (aka “IOG”, formerly known as “IOHK”), has gotten mind-blowing news for the whole community.
Like it is obvious the restless hand of the Cardano research team on how to make the community a better one.
Talking about April 28th, when the blog post (titled “Interoperability is key to blockchain growth”), in which it talked about five Cardano sidechains. One of these was their sidechain:
“Last but not least, IOG is planning to release a new permissionless EVM sidechain this year. This sidechain will allow developers to write Solidity smart contracts on Cardano and create EVM-compatible DApps, and ERC20-compatible tokens (and in time, their sidechains) while gaining many benefits of Cardano. That means users will benefit from far lower fees and faster settlement times on a more environmentally sustainable blockchain.
“The key features of the EVM sidechain will be full compatibility with Ethereum upgrades and tools, Web3 wallet compatibility, the use of the proof-of-stake Ouroboros Byzantine Fault Tolerance consensus protocol, and, of course, its ability to inherit security from the Cardano main chain.“
In April when the idea of interoperability was brought up, it was not achievable news, but a recent tweet validated the passion.
Finally, the Alpha version of the EVM is launched
In the recent tweet of the IOG, it was made known the launch of a permissionless EVM sidechain Alpha on testnet. As stated by the 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.
What EVM has to offer
- as stated by IOG, the EVM sidechains will be compatible with ETH tools and Upgrades, web 3.0 wallets, Ouroboros consensus protocol, and the maximum security inherent in the Cardano mainchain.
- Users will benefit from faster, smart settlements and lower fees on the sustainable blockchain
It was revealed by IOG in the last 24hours how solidity developers could “apply for access to the EVM sidechain alpha release.”
From the look of things now, it is very clear that Cardano Devs is not resting but continues working to see the having continual breakthrough.
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Early this month, the Dish, a satellite TV network based out of Colorado, United States, is leading the pack in terms of blockchain adoption. The firm is collaborating with Cardano Input-Output Global (IOG) to bring a blockchain-based decentralized loyalty program to its user base. The system will adopt features of Cardano’s native token.
Recently, the number of decentralized applications (dApps) being established and preparing to release on the blockchain has to shoot beyond 1,000. The loudest Hard Fork is scheduled for later this month.
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