Milkomeda is working on a new feature that would allow Cardano users to use any EVM contract directly from any Cardano wallet.
The Cardano blockchain has recently been working towards becoming the leading EVM chain in the crypto space. Milkomeda co-founder Sebastien Guillemot recently announced that development may happen as early as next month.
This is because Milkomeda is introducing a new feature that would allow Cardano users to use any EVM contract directly from any Cardano wallet, and all within ADA. Therefore, developer Guillemot added that Cardano will become one of the largest EVM networks in terms of user base.
Furthermore, Milkomeda plans to launch staking rewards for all EVM users, including smart contract developers. Thus, it will also make Cardano the largest EVM compliant chain to have a fully operational staking rewards system. Guillemot also invited those interested in building on Cardano’s EVM layer and receiving rewards for five days. He wrote:
“Not only this, but it will be the largest EVM chain with fully operational staking rewards! Milkomeda (@Milkomeda_com) will soon enable staking rewards for all EVM users, including smart contract developers. Build Cardano’s EVM layer and get paid automatically every 5 days!
However, some users expressed their discontent with this development on Cardano, adding that it leads to questioning the validity and uniqueness of the Cardano blockchain as an independent blockchain network.
Cardano users can access Ethereum dApps
Amid the ongoing development of Milkomeda, Cardano users will soon be able to access Ethereum Virtual Machine (EVM) contracts directly from Cardano wallets.
An Ethereum virtual machine basically refers to an environment where all Ethereum accounts and smart contracts can live together and function like a common computer used by developers to create decentralized applications (dapps).
Implementing EVM on other blockchains would allow developers to build dApps and decentralized finance (DeFi) applications similar to how they would be built on the Ethereum blockchain. Milkomeda’s latest development will allow Ethereum app developers to build on the Cardano blockchain using Solidity, the computer language used to code Ethereum, without the need for new toolsets.
These apps can be used solely with Cardano ADA tokens instead of Ether, increasing utility for holders.
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Bhushan is a FinTech enthusiast and has a good knack for understanding financial markets. His interest in economics and finance draws his attention to the new emerging markets of Blockchain technology and cryptocurrencies. He is continuously in a learning process and stays motivated by sharing the knowledge he has acquired. In his spare time, he reads thrillers and sometimes explores his culinary skills.
