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Cardano EVM Sidechain, Milkomeda C1 Hits New Highs in Transaction and Wallet Numbers

Milkomeda C1, Cardano’s Ethereum Virtual Machine (EVM) sidechain which delivers rollup technologies to leading Layer 1 ecosystems has reached a huge milestone in transactions and wallets created. A notable figure predicts wallets to hit 100,000 by the end of the eighth month. Meanwhile, Milkomeda Foundation is on track to launch its first game this August.

In March ending, the Milkomeda Foundation took the Milkomeda C1 protocol to the mainnet. Per a report, the project enables Ethereum decentralized applications (dApps) to be deployed in the Cardano ecosystem.

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In other words, Milkimeda C1 makes it possible for Cardano users to transfer assets between the two blockchains (Ethereum and Cardano). This is made possible courtesy of Milkomeda’s wrapped smart contract technology.

On the whole, Milkomeda C1 allows Cardano users to access and take advantage of several available smart contracts in the blockchain space. 

Read Also: Cardano (ADA) Becomes 7th Largest Cryptocurrency By Market Cap, Displacing XRP

Interestingly, the protocol has recorded a huge number of created wallets and transactions from users, in a short while. To this end, Nico Arqueros, CEO and co-founder of dcSpark and a core contributor to Milkomeda C1, hailed the significant progress made by the project. 

In a Monday tweet, the CEO said; “This is great for Cardano./Milkomeda C1 continues to grow consistently making ADA more valuable./Some of the current stats: 7,485,720 transactions, 96,026 wallets. We may break 100k wallets in August after the launch of the first game.”

However, these numbers continue to increase as more users employ the protocol for different activities. At the time of writing, the number of transactions on the Cardano Ethereum Virtual Machine (EVM) sidechain, Milkomeda C1, is 7,701,760.

See Also: Here’s why Cardano Vasil Hard Fork Will Be Delayed for More Weeks

Milkomeda C1 Statistics
Source: C1 Milkomeda Explorer

Accordingly, the number of wallets has increased to 98,100 while the total blocks produced on the protocol is 4,777,887, as revealed on the project’s explorer.

Overall, it is said that the growing increase in the number of transactions and wallets could make Cardano’s ADA more valuable. According to Coinmarketcap, ADA is trading at $0.49 per token.

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Ndianabasi Tom
Ndianabasi Tom
Ndianabasi Tom joined the crypto and blockchain industry in late 2018. He is an all-rounded crypto journalist and content writer. At TimesTabloid, he covers the industry's latest news, developments, and other educational content. He is a graduate of Petroleum Engineering.

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