- Milkomeda is introducing a new feature that will allow Cardano users to use any EVM contract directly from any Cardano wallet.
- The company plans to launch staking rewards for all EVM users, including smart contract developers.
- It will grow the utility of ADA for holders and allow application developers to build on the Cardano blockchain using Solidity, the programming language used to code Ethereum.
The Cardano blockchain has recently advanced to become the leading EVM chain in the cryptocurrency industry. Sébastien Guillemot, the co-founder of Milkomeda, stated that work could start as early as next month.
This is so that Cardano users can use any EVM contract directly from Cardano wallets and do it completely within ADA, thanks to new functionality that Milkomeda is implementing. As a result, according to developer Guillemot, Cardano is poised to have one of the largest user bases among EVM networks.
Furthermore, Milkomeda intends to launch bounties for all EVM users, including smart contract creators. As a result, Cardano will become the largest EVM-compliant chain with a fully functional staking rewards scheme. Guillemot has also welcomed those interested in building on Cardano’s EVM layer and winning prizes over five days.
“Not only that, 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 on Cardano’s EVM layer and automatically get paid every 5 days!”
Guillemot stated
However, some users have expressed their discontent with this development on Cardano. Users point out that this would lead to questioning the validity and uniqueness of the Cardano blockchain as an independent blockchain network.
An ecosystem in which all Ethereum accounts and smart contracts can coexist and function as a single computer that developers can use to create decentralized applications is known as an Ethereum virtual machine (dapps).
Deploying EVM on other blockchains would allow developers to build dApps as well as decentralized finance (DeFi) applications similar to how they would build on the Ethereum blockchain. Milkomeda’s latest development will allow Ethereum application developers to build on the Cardano blockchain using Solidity, the computer language used to code Ethereum, without the need for new tools.
These apps can only be used with Cardano ADA tokens instead of Ether, increasing utility for holders.
