Go permissionless: IOG announces Ethereum Virtual Machine (EVM) Sidechain Alpha

“The Ethereum Virtual Machine (EVM) sidechain alpha is now available!”

IOG’s official Twitter account reported the latest development just a few hours ago.

IOG tweeted. (This is now on the testnet.) Cardano is a decentralized, permissionless, and long-lasting blockchain on which you may build Solidity-based apps.” The future will be interoperable,” says the author.

Jaw-dropping announcement

The software corporation spearheading the Cardano ecosystem’s development, Input-Output Global (IOG), recently announced the testnet launch of its permissionless Ethereum Virtual Machine (EVM) sidechain alpha.

On the 28th of April 2022, IOG released a blog post titled “Interoperability is vital to blockchain growth,” in which they addressed about five Cardano sidechains.

The following is an excerpt from the blog article, which covers the recently released alpha version of the permissionless Ethereum Virtual Machine (EVM) sidechain:

“IOG intends to launch a new permissionless EVM sidechain this year.”

This sidechain will allow developers to write Solidity smart contracts on Cardano, and construct EVM-compatible DApps, and ERC20-compatible tokens (and, eventually, their own sidechains) while still reaping many of Cardano’s benefits.

As a result, customers will benefit from cheaper costs and faster settlement times on a blockchain that is more environmentally friendly.

“Full compatibility with Ethereum updates and tools, Web3 wallet compatibility, usage of the proof-of-stake Ouroboros Byzantine Fault Tolerance consensus process, and, of course, its ability to inherit security from the Cardano main chain” are among the important aspects of the EVM sidechain.

IOG also tweeted and captioned a video on June 11th explaining how Solidity developers may “request for access to the EVM sidechain alpha release.”

“We believe in an interoperable future based on many blockchains,” IOG captioned the video. That’s why the Ethereum Virtual Machine (EVM) sidechain alpha is now available! We invite the Ethereum community of consumers and developers to participate freely with the finest of Cardano’s offerings.”

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