Cardano Blockchain seeks to become the largest EVM chain with this innovation
Milkomeda is working on a new feature that will allow Cardano users to use any EVM contract directly from any Cardano wallet.
The Cardano blockchain has recently worked its way to becoming the top EVM chain in the crypto space. Milkomeda co-founder Sebastien Guillemot recently announced that the development could happen as early as next month.
This is because Milkomeda is introducing a new feature that will allow Cardano users to use any EVM contract directly from a Cardano wallet, and all within ADA. Thus, developer Guillemot added that Cardano is set to become one of the largest EVM networks in terms of user base.
Furthermore, Milkomeda plans to launch stake rewards for all EVM users, including the developers of the smart contracts. Thus, it will also make Cardano the largest EVM-compatible chain with a fully operational stake reward system. Guillemot has also invited those interested to build on Cardano’s EVM team and receive rewards for five days. He wrote:
“Not only this, but it will be the largest fully operational EVM chain with stake rewards! Milkomeda (@Milkomeda_com) will soon enable stake rewards for all EVM users, including smart contract developers. Build Cardano’s EVM layer and get paid automatically every 5 .day!
However, some users have expressed displeasure with this development on Cardano, adding that it calls into question the validity and uniqueness of the Cardano blockchain as a standalone blockchain network.
Cardano users can access Ethereum dApps
Amid the current developments from Milkomeda, Cardano users will soon be able to access Ethereum Virtual Machine (EVM) contracts directly from their Cardano wallets.
An Ethereum Virtual Machine basically refers to an environment where all Ethereum accounts and smart contracts can live together and act as a common computer used by developers to create decentralized applications (dapps).
Deploying EVM on other blockchains will allow developers to build dApps as well as decentralized finance (DeFi) applications similar to the way they would build on the Ethereum blockchain. The latest development from Milkomeda will allow Ethereum application developers to build on top of the Cardano blockchain using Solidity – the computing language used to code Ethereum – without requiring new toolkits.
These applications can only be used with Cardano’s ADA tokens instead of Ether and thus increase the utility for holders.
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