Cardano’s developer team will release a software toolkit later this month that will allow developers to deploy side chains Dedicated to the network in order to improve the usability and scalability of the ecosystem.
The news was announced on January 12 by Input Output Global (IOG), a blockchain engineering firm founded by Charles Hoskinson and formerly known as Input Output Hong Kong (IOHK). The announcement included official technical documentation for the toolkit.
⛓️ # Cardano The side chain toolkit was previewed at #ioscotfestand we are happy to share the first version of the release now.
Here’s the lowdown on this exciting new project! https://t.co/Ny9tQuJh5K
– input output (InputOutputHK) January 12, 2023
The #Cardano sidechain toolkit was previewed at #IOScotFest and we’re excited to share that the first iteration is now available.
That’s the summary of this exciting new project!
– input output (InputOutputHK)
IOG developers have already used the toolkit to build a public testnet from a side chain Compatible with the Ethereum Virtual Machine (EVM) as a “proof of concept”. Once the audit is complete, anyone can deploy decentralized applications, create smart contracts, and transfer tokens between different testnets.
The toolkit will also allow sidechain creators to choose their own compatibility mechanism, as well as other app-specific features.
A side chain is a standalone blockchain that runs alongside the main blockchain, often called a side chain mainnet. Side chains often try to add scalability to the mainnet, which in turn prioritizes decentralization and security.
IOG expects the development of the side chain to “pave the way for mass adoption” of the Cardano ecosystem and “expects to see a family of side chains Cardano and Partner Chains Emerging” in the near future.
Among the “partner networks” Hoskinson would like to see at Cardano is Solana. Cardano’s founder stated in a Q&A session that aired on December 10 that Cardano can benefit from Solana’s network speed while Solana benefits from Cardano’s infrastructure and security.
The Cardano community is excited
The news has Cardano fans excited, with one community member predicting that Cardano will see an Ethereum price hike in 2020-2021, when many side chainsLayer 2 networks and utility tokens were released in the leading smart contract network ecosystem.
2023 is the year # Cardano side chains
– Midnight Privacy side chain
Compatible with the Sidechains Toolkit EVM toolchain
Milkomeda, Cardano’s first side chain
– …more to eatRemember what happened when people started creating sidechains/tokens on Ethereum?
Take that and make it x10. https://t.co/n8KWCX2SVh– Cardano Hieronymus (@CardanoHumpback) January 12, 2023
2023 is the year of #Cardano
– Midnight Privacy side chain
– Tools for EVM compatible side chains
Milkomeda, Cardano’s first side chain
– …More is coming
Remember what happened when people started building sidechains/tokens on Ethereum?
Take this and multiply by x10.
– Cardano Hieronymus (@CardanoHumpback)
Another member of Cardano’s fanbase described the rollout of the toolkit as a “huge move” that will “spread Cardano’s use of sidechains” in the coming months:
Great move @employee I think this helps spread the use of Sidechains for Cardano and is a good strategy if it evolves to use mithril/state proofs
as a major contributor to @employee We will continue to lead and hopefully support others to join https://t.co/auqp2TkEg1
– Nicoarq (@nico arqueros) January 12, 2023
Nice move by @InputOutputHK I think this helps popularize the use of Sidechains on Cardano, a good evolution strategy for using mithril / case proofs
As a primary contributor to Milkomeda_com, we will continue to lead and look forward to supporting others who wish to join us.
– Nicoarq (@nico arqueros)
However, IOG notes that the toolkit will not serve as a “complete solution”.
“There are some areas that need improvement, such as the bridge experience, the SPO reward mechanism, and the security model. The community will work on all of these areas as we move forward — carefully and steadily — collaborating with feedback, ideas, and recommendations.”
In addition to launching side chainsthe protocol will soon introduce parallel ledger patterns as part of its “Basho Phase” to improve interoperability in the Cardano ecosystem, according to road map.
This isn’t the first sidechain solution that IOG has integrated with Cardano, having already built one side chain Most basic EVM-compliant in July to begin development side chains.
Cardano also underwent its most significant hard fork — the Vasil update — in September, which made smart contract deployment more efficient and allowed decentralized applications to run on the network at lower costs.
The price of Cardano’s token, ADA, was at the time of publication at $0.3313, recording a 22.7% increase over the past seven days.
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