Cardano Set To Become One of the Largest EVM Chains by User Base and Staking Rewards

Cardano (ADA) Path to New All-time High: Analyst Says The Scenario Remains the Same

The popular smart contract platform which launched its Ethereum Virtual Machine (EVM) layer, Milkomeda C1 in March 2022 is gearing up to join the league of the largest EVM chains in the blockchain space.

Milkomeda C1, Cardano’s Ethereum Virtual Machine (EVM) sidechain which delivers rollup technologies to leading Layer 1 blockchain ecosystems continues to record massive growth in terms of transactions and wallets created.

As per an update from Sebastien Guillemot, the Chief Technology Officer (CTO) and co-founder at Milkomeda, dcSpark, Paima Studios, and Flint Wallet, the team at Milkomeda is at the brink of launching key features that catapult the functionalities and user base of Cardano.

This strategic feature planned to be introduced in April 2023 would make Cardano one of the largest EVM chains by user count, he revealed.

More so, all Cardano EVM users will be able to stake and earn rewards as Milkomeda is on track to enable staking rewards for all EVM users including smart contract developers. This April-scheduled development would make the PoS-based Cardano blockchain the largest Ethereum Virtual Machine (EVM) with staking rewards fully operational, Guillemot added.

Beyond these, Milkomeda aims at making Cardano a powerhouse for blockchain gaming as it plans to partner with Paima Studios, the first industry-leading layer-2 gaming engine. Because Paima works well with Polkadot wallets, Cardano could see an influx of Polkadot users into its ecosystem.

Milkomeda CTO wrote:

“Cardano will be a top EVM chain next month. Milkomeda (Cardano’s EVM layer) is launching a feature allowing every Cardano user to use EVM contracts directly from any Cardano wallet, All in pure ADA. This will instantly make Cardano one of the largest EVM chains by user count.”

“Not only this, but it will be the largest EVM chain with staking rewards fully operational! Milkomeda is soon enabling staking rewards for all EVM users, including smart contract developers. Build in Cardano’s EVM layer and get paid automatically every 5 days!”

“Cardano is poised to be a powerhouse in on-chain gaming as well through Paima + Milkomeda. Paima not only works in the Cardano ecosystem, but you can even use it from Polkadot wallets, bringing all Polkadot users to the Cardano ecosystem!”

Paima Studios confirmed this expected development in a Thursday tweet. “A critical piece of infrastructure for on-chain gaming is coming to Cardano after a successful Astar Network release,” the team wrote.

Notably, Astar Network is a blockchain project that supports the building of DApps with EVM and WASM smart contracts while offering developers true interoperability with cross-consensus messaging.

Follow us on Twitter, Facebook, Telegram, and Google News

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.