Cardano users will soon be able to access Ethereum Virtual Machine (EVM) contracts using any cardano (ADA) wallet, expanding the network’s utility for developers and users.
That is thanks to an upcoming feature on Milkomeda, a network that connects blockchains such as Cardano and Algorand to EVM contracts.
“Milkomeda (Cardano’s EVM layer) is launching a feature allowing EVERY Cardano user to use EVM contracts directly from ANY Cardano wallet,” said Sebastien Guillemot, CEO of Milkomeda, late on Thursday.
“Milkomeda is soon enabling staking rewards for all EVM users, including smart contract developers,” Guillemot stated, adding that staking rewards from Cardano products built on Milkomeda will be paid “automatically every 5 days.”
An Ethereum Virtual Machine (EVM) refers to the environment in which all Ethereum accounts and smart contracts live, serving as a virtual computer utilized by developers for creating decentralized applications (dapps).
When deployed on other blockchains, EVMs can allow developers to build dapps and decentralized finance (DeFi) applications similar to the way they would on Ethereum.
The feature would allow Ethereum application developers to build on Cardano’s network using Solidity – the computer language used to code Ethereum – without the need for installing new toolkits or learning a new language.
Such applications can then be used solely with cardano tokens instead of ether, increasing utility for holders.
