Crypto Weekly
Subscribe
No Result
View All Result
Crypto Weekly
  • Home
  • News
    • Bitcoin
    • Binance
    • Ripple
    • Ethereum
    • Cardano
  • Learn
    • Crypto 101
    • Crypto Wallets
    • Crypo Investing
  • Regulation
  • Advertise with us
  • Subscribe
No Result
View All Result
Crypto Weekly Magazine
No Result
View All Result
  • Home
  • News
  • Learn
  • Regulation
  • Advertise with us
  • Subscribe

Cardano’s EVM-compatible sidechain Testnet goes live

by
February 24, 2023
in cardano, News
0

Input Output, a developer of the Cardano (ADA) ecosystem, has one of its most recent accomplishments, it has released a fully functional public testnet for its Ethereum (ETH) sidechain following the introduction of its tools for creating sidechains.

In particular, the team announced on Twitter on February 7 that Cardano’s public test network of the proof-of-concept sidechain, built on top of the Ethereum Virtual Machine (EVM), is the first network of its kind created directly by Input Output.

📢OUT NOW: Following the latest #sidechain toolkit announcement, the #EVM sidechain proof of concept public testnet is now available! #Cardano

— Input Output (@InputOutputHK) February 7, 2023

The testnet will be accessible for a short time and will be periodically changed during its pilot phase, according to an official tweet from IOG.

Users can deploy smart contracts and decentralized applications, connect their wallets, and test token transfers between test environments (dApps). Participation and experimentation on the platform are encouraged among developers and stake pool operators (SPOs).

IOG added,

“During its pilot phase, this proof-of-concept testnet will frequently respond. It is ultimately designed to be a community resource, and we invite developers and SPOs to participate and work together.”

The team advised anyone with inquiries to post them in the comments or in the #ask-sidechains Discord channel. The team also promised to follow up with a video tutorial series and hold a Discord stage to address inquiries from the public regarding the sidechain toolkit.

Cardano innovations in the blockchain industry

It’s also crucial to remember that the Ethereum and Cardano networks have previously been connected in this manner. A sidechain project called Milkomeda was introduced in August 2021 by blockchain development company dcSpark, enabling the execution of EVM-compatible smart contracts from the Cardano mainnet.

Since then, the sidechain has been running successfully, logging about 10 million transactions moving through the network and having more than 100,000 cryptocurrency wallets. The sidechain’s name, “Milky Way” and “Andromeda,” represents the goal of interoperability.

As the number of smart contracts on its network topped 5,000, the Cardano team continues to put a lot of effort into the growth of the ecosystem, finishing second in its GitHub development activity and among the top smart contract cryptocurrency projects by staking market value.

Previous Post

Cardano price analysis: ADA  drops below $0.3654 as a downtrend continues

Next Post

Binance rolls out semi-automated reserve token management – Here’s how it works

Next Post

Binance rolls out semi-automated reserve token management – Here’s how it works

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Got a Story tip? Email Contact@cryptoweeklymag.com

CMC Coin

A marketing-focused coin w/ a unique set of tokenomics & incredible use cases! The official coin of Crypto Weekly Mag!
Learn More

News

Recent Posts
  • Ethereum price analysis: ETH corrects lower after a week of gains
  • Cardano price analysis: ADA declines to $0.3416 as bears take control
  • Price analysis 3/27: SPX, DXY, BTC, ETH, BNB, XRP, ADA, MATIC, DOGE, SOL
  • The Global Crypto Landscape: Countries That Accept Crypto in 2023
  • Binance expands to Georgia with a regional hub
  • Will BTC ditch the bear market? 5 things to know in Bitcoin this week
  • G7 leaders to push for tougher crypto regulations

Office

Crypto Weekly
71 – 75 Shelton Street
Covent Garden London, UK

Stay Connected

Facebook Twitter Instagram Telegram

© 2022 crypto weekly. All rights reserved

  • Home
  • News
    • Bitcoin
    • Binance
    • Ripple
    • Ethereum
    • Cardano
  • Learn
    • Crypto 101
    • Crypto Wallets
    • Crypo Investing
  • Regulation
  • Advertise with us
  • Subscribe
Translate »