Ethereum is a smart contract platform that enables developers to build tokens and decentralized applications (dapps). ETH is the native currency for the Ethereum platform and also works as the transaction fees to miners on the Ethereum network. Ethereum is the pioneer for blockchain based smart contracts.
Cardano is a decentralised platform that will allow complex programmable transfers of value in a secure and scalable fashion. It is one of the first blockchains to be built in the highly secure Haskell programming language. Cardano is developing a smart contract platform which seeks to deliver more advanced features than any protocol previously developed. It is the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach. The development team consists of a large global collective of expert engineers and researchers.
The first of these lateral networks is known as EVM sidechain, which will allow developers more experienced with Solidity the programming language used by Ethereum for developing smart contracts. take advantage of the benefits of Ethereum a decentralized open-source blockchain with smart contracts functionality. y Cardano for the design of your products and services.
- IOHK launches its first lateral network, known as EVM sidechain.
- This will allow developers to run on Cardano projects designed for Ethereum with Solidity.
- Already available in alpha phase and will allow the exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. of assets between both networks in 2023.
The team of IOHK, entity responsible for providing technological support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. to the ecosystem of Cardano, announced the launch of a new EVM sidechain, which is linked to the ecosystem of Ethereum and it has a design that will allow developers skilled in the use of the language Solidity take advantage of the benefits of both networks.
IOHK announces the launch of EVM sidechain
This was indicated by the team of IOHK in a recently published statement, where he indicated that this new sidechain (side network) is compatible with the virtual machine ofEthereum (EVM), por lo que admite todas las herramientas y marcos que utiliza actualmente dicha red. Con esto será posible para los desarrolladores combinar lo mejor de ambos ecosistemas y/o migrar los productos a Cardano if they choose to do so.
As such, sidechain’s main property is to interconnect networks, allowing developers to implement functions from both ecosystems. What is offered here by the IOHK is contemplated within its plan to launch a greater number of lateral networks, with which it hopes to improve programmability, scalability and interoperability blockchain interoperability, or cross-chain interoperability, is the ability to see and share information across multiple blockchains. within the ecosystem. Blockchain.
Regarding EVM sidechain, this is now available in alpha phase for those interested. This was announced by the IOHK during the event Consensus, so participants will be able to start building their products and services in this space.
The team indicated that when everything is fully developed, it will be possible for users to send assets between EVM sidechain and the main network a network refers to all nodes in the operation of a blockchain at any given moment in time. of Cardano, which will be available sometime in 2023.
Cardano prepares to add more projects
The announcement of the launch of EVM sidechain comes shortly before the next update for the network of Cardano, better known as Vasil, which would bring scalability and accessibility improvements to the project ecosystem.
Recently the Cardano team revealed that it already counted more than 1,000 operational/development projects on its network, a big milestone for the project that is relatively new after enabling smart contract in traditional finance, a contract is a binding agreement between two parties. In cryptocurrencies, smart contracts execute functions on the blockchain. functionality within its ecosystem. Blockchain.
On the other hand, let’s take into account an account is essentially a whose purpose is to track the financial activities of a specific asset/ that there already exists a bridge between Cardano y Ethereum for sending tokens ERC-20, which is in the testing phase and was launched at the end of May by the team of iagon.
- IOHK reveals that Cardano already has more than 1,000 projects in development on its Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies.
- “Experience of using DEX (decentralized exchange)A peer-to-peer exchange allowing users to trade cryptocurrency without the need for an intermediary. on Cardano is 100 times better than on Ethereum,” says former Google product head
- Now you can send ERC-20 tokens designed and used solely on the Ethereum platform. tokens between Ethereum and Cardano, thanks to new beta bridge by iagon
Version by Angel Di Matteo / DiarioBitcoin
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