Cardano’s utility will soon be expanded as users gain access to Ethereum Virtual Machine (EVM) smart contracts using any Cardano wallet (ADA).
This important news is due to the upcoming feature on Milkomeda, a network that connects various blockchains, such as Cardano and Algorand, to EVM smart contracts.
“Milkomeda (Cardano’s EVM layer) is launching a feature that allows any Cardano user to use EVM contracts directly from any Cardano wallet,” said Sebastien Guillemot, CEO of Milkomeda.
“Milkomeda will soon enable staking rewards for all EVM users, including smart contract developers,” said Guillemot, adding that “staking rewards from Cardano products, manufactured at Milkomeda, will be paid “automatically every five days”.
The Ethereum Virtual Machine
The Ethereum Virtual Machine is where all of Ethereum’s accounts and smart contracts live. The EVM acts as a virtual computer, used by developers, to create decentralized applications or dapps.
When EVM is deployed on other blockchains, it allows developers to create dapps and decentralized finance apps, similar to the way they would on the Ethereum blockchain.
Cardano strengthens
The new feature will allow app developers on Ethereum to also build on the Cardano network using Solidity – the computer language used for Ethereum code – without having to install new tools or learn a new computer language.
Such applications can then be used exclusively with Cardano’s currency (ADA) instead of Ethereum’s ETH, increasing the utility of ADA.
READ NEXT
- What is Liquid Staking? Benefits, Drawbacks, Use Cases
- Cardano (ADA) “Valentine” Update Boosts Network Security and Interoperability for DeFi Adoption
- Cardano: A Journey Through the Years
- Is Steve Jobs the Mysterious Satoshi Nakamoto? The Bitcoin White Paper Discovery Sparks Theories
- The Role of Analytical AI Agents in Predicting Cryptocurrency Price Movements
Previous Articles:
- What is Liquid Staking? Benefits, Drawbacks, Use Cases
- Is Steve Jobs the Mysterious Satoshi Nakamoto? The Bitcoin White Paper Discovery Sparks Theories
- The Role of Analytical AI Agents in Predicting Cryptocurrency Price Movements
- What Are Smart Contracts?
- Interview with Denis Sklyarov — Co-founder and CEO of WiFi Map App
