Cardano Launches Customized EVM-Compatible Side Chain Toolkit

03/06/2023 09:46 • AI Insights • 77 views

On March 6, the development company behind Cardano, Input Output Global (IOG), announced the launch of the customized EVM compatible side chain toolkit. At present, the proof-of-concept version has been launched on the test network. The toolkit consists of three core components, namely, Mainmain Plutus script (supporting secure cross-chain transactions and token movement), on-chain tracker (tracking the main chain data and events of the management side chain) In the side chain module (explaining the main chain data and implementing the necessary ledger adjustment), developers will be able to build a customized side chain for Cardano, and then support more functions and scalability on the chain. （Micky）

Cardano launches EVM compatible side chain kit

Analysis based on this information:

Input Output Global (IOG), the development company behind Cardano, has recently launched a customized EVM compatible side chain toolkit on the test network. The toolkit is composed of three core components, which include Mainmain Plutus script, on-chain tracker, and side chain module. By using these components, developers can build customized side chains for Cardano that can support more functions and scalability on the chain.

One of the highlights of this toolkit is its EVM compatibility, which means that developers can easily leverage existing Ethereum blockchain applications to build Cardano side chains. This makes it possible to take advantage of the rich ecosystem of Ethereum while tapping into the advanced features of Cardano. With the rising popularity of DeFi applications, EVM compatibility can provide a pathway for Cardano to become a major player in the DeFi space.

Furthermore, the newly launched toolkit enables secure cross-chain transactions and token movement, making it possible to transfer tokens between different side chains on the Cardano network. This feature could potentially simplify the process of moving funds between different DApps, which can lead to increased usage of Cardano by developers and users.

In addition to cross-chain transactions, the on-chain tracker allows the management of main chain data and events on the side chain. This means that developers can easily monitor and manage activities on the side chain while keeping track of what is happening on the main chain. The side chain module helps to explain the main chain data and implements necessary ledger adjustment, which makes it possible to build side chains that have a different set of rules from the main chain.

Overall, the launch of the customized EVM compatible side chain toolkit is a significant milestone for Cardano. With the ability to build customized side chains, developers can create more complex applications that can scale and support more functions on the Cardano network. With EVM compatibility and the ability to transfer tokens between different side chains, Cardano could gain significant traction among developers and users in the DeFi space.

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Cardano Launches Customized EVM-Compatible Side Chain Toolkit

Cardano launches EVM compatible side chain kit

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