[ad_1]
IOHK owns development company Cardano launched the first Ethereum-compatible sidechain on the public network. Although this is not the first time, because the Cardano Milkomeda sidechain, which is compatible with EVM, has been running successfully on the main network for quite some time now.
However, the newly released Ethereum compatible sidechain is the first to be explicitly created by Input Output.
A sidechain is a separate blockchain that operates next to the main network, sometimes known as the parent blockchain. Sidechains often aim to provide scalability to mainnets, which often prioritize security and decentralization.
In a series of tweets, Input Output HK invited community members and staking pool operators on Cardano to link their wallets, test the network, and interact with smart contracts and decentralized applications.
This proof of concept testnet is provisional and will be replayed regularly during its pilot phase. Ultimately, it’s meant to be a community resource and we encourage developers and SPOs to engage and collaborate.
The information comes following a previous release by the Cardano ecosystem team, which revealed the introduction of a software toolkit designed to enable developers to implement unique sidechains on Cardano with the aim of enhancing the ecosystem.
The announcement also includes official technical documentation for the sidechain toolkit.
It was previously reported that IOG developers have used the toolkit to build an Ethereum Virtual Machine [EVM]-sidechain compatible public testnet as a “proof of concept”.
The team is waiting for the audit to complete, and once done, anyone can run decentralized applications, create smart contracts, and transfer tokens between test chains.
The toolkit will also give sidechains creators the ability to choose their own consensus mechanism in addition to other application-specific features.
“Cardano Sidechains Will Support Mass Adoption”
IOG hopes that in the near future, “a family of Cardano side chains and partner chains will emerge,” opening the door for “widespread adoption” of the Cardano ecosystem.
As reported by TronWeekly, deposits, and withdrawals on ADA will be temporarily suspended by Binance for the upcoming Valentine’s Day update of the Cardano network, called SECP.
As per the blog post, the exchange will reopen deposits and withdrawals for ADA once the upgraded network is stable.
The originally scheduled SECP update will take place on test networks starting February 11, before going live on the mainnet.
[ad_2]
Source link
