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Cardano Expands Its Utility by Connecting to Ethereum Virtual Machine for Smart Contracts

Cardano’s utility will soon be expanded as users gain access to Ethereum Virtual Machine (EVM) smart contracts using any Cardano wallet (ADA).

This important news is due to the upcoming feature on Milkomeda, a network that connects various blockchains, such as Cardano and Algorand, to EVM smart contracts.

“Milkomeda (Cardano’s EVM layer) is launching a feature that allows any Cardano user to use EVM contracts directly from any Cardano wallet,” said Sebastien Guillemot, CEO of Milkomeda.

“Milkomeda will soon enable staking rewards for all EVM users, including smart contract developers,” said Guillemot, adding that “staking rewards from Cardano products, manufactured at Milkomeda, will be paid “automatically every five days”.

The Ethereum Virtual Machine

The Ethereum Virtual Machine is where all of Ethereum’s accounts and smart contracts live. The EVM acts as a virtual computer, used by developers, to create decentralized applications or dapps.

When EVM is deployed on other blockchains, it allows developers to create dapps and decentralized finance apps, similar to the way they would on the Ethereum blockchain.

Cardano strengthens

The new feature will allow app developers on Ethereum to also build on the Cardano network using Solidity — the computer language used for Ethereum code — without having to install new tools or learn a new computer language.

Such applications can then be used exclusively with Cardano’s currency (ADA) instead of Ethereum’s ETH, increasing the utility of ADA.

Read more: https://medium.com/coinmonks/cardano-expands-its-utility-by-connecting-to-ethereum-virtual-machine-for-smart-contracts-6c5cab531b4c

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