Cross-blockchain dApps builder, the Milkomeda Foundation, revealed the launch of C1 which enables Ethereum decentralized applications (dApps) to be deployed in the Cardano ecosystem.
According to an official announcement, the Milkomeda Foundation has launched the long awaited – Milkomeda C1, an Ethereum Virtual Machine (EVM)-compatible sidechain that is connected directly to the Cardano blockchain. This protocol allows users to transfer assets between Cardano and the Milcomeda C1 sidechain, which then enables the deployment of Ethereum DApps on the Cardano ecosystem.
Ethereum dApps On Top of Cardano
As per the blog post, users can now seamlessly move assets between the two blockchains, which makes it possible to run popular Ethereum-based decentralized applications (dApps) on top of Cardano. This is achieved with the wrapped smart contract technology, which was recently pioneered by Milkomeda.
The Foundation stated that In order to be able to use Ethereum assets, users have to set up their MetaMask wallet with Milkomeda C1 and move their assets from the Cardano mainnet. The company seems to have taken security seriously. It believes that users who start using C1 and all of the dApps on top should feel safe knowing that the technologies have been audited by qualified and well-known Blockchain auditing firms. The post stated,
“Milkomeda has successfully passed its first audit by Aritrary Execution, and is currently undergoing a second audit which will be released in the near future.”
The project which started in the mid 2021 has witnessed major contributions from multiple companies including – VacuumLabs, a company that provides design, product development, engineering, and data science services for the fintech industry, blockchain company, Atix Labs, and product-based blockchain company that builds products and solutions for crypto projects, dcSpark.
In his recent tweet, the founder of the Cardano blockchain platform, Charles Hoskinson, congratulated the DcSpark team, that is the core contributor to the Milkomeda protocol. He tweeted,
“Congratulations to the entire DCSpark team! It’s a great moment for Cardano. The ecosystem is now EVM compatible.”
Milkomeda’s Future Goals
Milkomeda’s sidechain will enable the transfer of projects from one blockchain to another, by creating sidechains with alternative virtual machines, connected to the main L1 chains, that use their cryptocurrency as their base asset, exposing these projects to another group of users and thus increasing the exposure of a project.
The Milkomeda Foundation is also aiming to expand to offer L2 solutions (rollups) for several major blockchains including Algorand, Solana, and Terra. In this way, Milkomeda will work to achieve both the sidechain vision and the multi-blockchain interoperability vision.
