Cardano (ADA) users will soon be able to access Ethereum Virtual Machine (EVM) contracts through any ADA wallet, thanks to a new feature on Milkomeda.
The upcoming integration on Milkomeda, a network that connects blockchains such as Cardano and Algorand to EVM contracts, will open up new possibilities for developers and users alike.
Sebastien Guillemot, the CEO of Milkomeda, announced the news late Thursday.
“Milkomeda (Cardano’s EVM layer) is launching a feature allowing EVERY Cardano user to use EVM contracts directly from any Cardano wallet,” he said.
He added that staking rewards would now be available for all EVM users including smart contract developers. These rewards can be paid out automatically every five days.
The EVM is the environment where all accounts and smart contracts live, acting like a virtual computer used by developers to build decentralized applications (dapps). When deployed on other blockchains via Milkomeda, it gives developers the opportunity to create similar dapps and decentralized finance (DeFi) products as they would on Ethereum – but using Cardano tokens rather than Ether.
To make this process even simpler for developers, Solidity will also be supported – meaning no need for toolkits or learning a new language. This opens up many possibilities for those who have previously been restricted in their Cardano-related projects due to lack of support of compatible languages.
Cardano has been gaining traction in recent months, with its market capitalization now exceeding $13 billion, making it the seventh-largest cryptocurrency by market cap. The project has been touted as a more energy-efficient and sustainable alternative to other blockchain networks like Ethereum.
The new feature is set to bring more utility to holders of Cardano tokens as well as provide more options for dapp development on the blockchain.