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. 

A critical piece of infrastructure for on-chain gaming is coming to #Cardano after a successful @AstarNetwork release

— Paima Studios (@PaimaStudios) March 30, 2023

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.

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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.”

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

Hope u are having great wknd pic.twitter.com/3TaGlnjI3R

— nicoarq (@NicoArqueros) July 31, 2022

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

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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To execute a swap as required by Milkomeda and Iagon Token Bridge, users need to hold at least 4 milkAda tokens in their wallets.

Read Also: New Ethereum to Cardano Bridge Launches as Cardano Advances in Terms of Interoperability

In a case where a user does not have enough or any milkAda tokens in his wallet, ADA can be transferred from any Cardano wallet to Ethereum Virtual Machine (EVM) wallet to get the required number of tokens.

As soon as the required number of tokens is obtained, users can then proceed to the bridge page and connect their Cardano wallet with Nami of Flint wallets. Afterward, they would need to select Milkomeda C1 and send their ADA to the address provided.

Iagon Token Bridge Currently in Beta Test Version

As aforementioned, Iagon Token Bridge is now actively functioning, but in the beta test version. However, it’s already achieving the purpose of its creation by wrapping and unwrapping IAG tokens on the Ethereum and Cardano blockchains.

The solution, powered by the Milkomeda sidechain, allows swapping ERC-20 IAG tokens for native tokens from the Cardano to Ethereum and vice versa.

Read Also: “Where Did the ADA Go?” Hoskinson Reacts To User’s Claim of Losing 7,000 Euros after Buying Cardano

Vasil Hard Fork May Go Live On Public Testnet on June 2nd

According to glneto, a developer at Mutant NFTs, a Cardano-based non-fungible token platform, the much-anticipated Vasil Hard Fork may go live on the public testnet on June 2, 2022. While the mainnet launch is estimated to launch on June 29.

glneto tweeted, “Cardano Vasil hard fork will be available on public Testnet on June 2nd (Mainnet planned for June 29th) and here is my take of its benefits from an @epoch_art perspective.”

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Iagon, a Cloud Computing Platform offering access to a decentralized IAG-powered Shared Storage Economy, made this new development known in a tweet on the 25th of May 2022. The report says that the firm aims to boost the growth and development of the Cardano ecosystem.

Read Also: WingRiders DEX That Brings USDT and USDC Stablecoins to Cardano Has Launched On Mainnet

Iagon tweeted, “Iagon Ethereum-Cardano #TokenBridge is launched. We believe that our solution powered by @Milkomeda_com & @nomadxyz_ contributes @Cardano development & growth.”

Iagon Ethereum-Cardano #TokenBridge is launched

We believe that our solution powered by @Milkomeda_com & @nomadxyz_ contributes @Cardano development & growth

Time to try it – https://t.co/y96PfMPbTk#buildingoncardano #CardanoCommunity pic.twitter.com/monHzOOVU4

— Iagon (@IagonOfficial) May 25, 2022

Back in April 21st, Iagon announced its migration from the Ethereum to Cardano blockchain. Around that time, it also announced that it had moved 500 million IAG tokens to Cardano, representing 50% of IAG’s total supply.

According to the Iagon team, the purpose-made token bridge was built to enable the conversion of ERC-20 IAG tokens to CNT IAG tokens, to make tokens on both Cardano and Ethereum blockchains interact.

Read Also: Hoskinson to Buterin on Blockchain Development in Africa: “Dude, Where Have You Been?”

It’s also said that the new bridge will be powered by solutions provided by Milkomeda, a layer-2 protocol. The platform also plans to include support for other ERC20 projects.

In late March 2022, Cardano saw notable progress in its advancement in terms of interoperability after the Milkomeda Foundation announced the launch of Milkomeda C1.

Cardano CI is a Layer 2 Ethereum Virtual Machine (EVM) compatible sidechain that enables the deployment of Ethereum decentralized applications (DApps) to the Cardano blockchain.

After this development, the ADA-AGIX converter was also launched. This enabled SingularityNET token AGIX to become interoperable with the ADA, the native token of the Cardano blockchain.

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The Milkomeda Foundation recently announced the launch of Milkomeda C1, a tool designed to enable Ethereum decentralized applications (DApps) to be deployed on the Cardano blockchain.

Read Also: Grayscale Launches Smart Contracts Platform Fund for Cardano, Solana, Polkadot, Avalanche, Stellar

Milkomeda team announced, “Thank you everyone for your support. We finally are live! We repeat: we are live!! Please review the blogpost that we wrote so you can understand what this means, what dApps are available and more!”

Thank you everyone for your support. We finally are live!

We repeat: we are live!!

Please review the blogpost that we wrote so you can understand what this means, what dApps are available and more!

Please remember to DYOR https://t.co/Yy9a970WQ3

— Milkomeda (there is no token) (@Milkomeda_com) March 28, 2022

Charles Hoskinson Says Milkomeda C1 Launch Is a Great Moment for Cardano

Reacting to the notable development, the CEO of IOG, Charles Hoskinson, described the launch of Milkomeda C1 as a great moment for Cardano, due to what it’s bringing to the Cardano ecosystem.

Hoskinson said the launch of Milkomeda C1 on the mainnet has made the Cardano ecosystem become compatible with Ethereum Virtual Machine (EVM).

Charles Hoskinson tweeted, “Congratulations to the entire DCSpark team! It’s a great moment for Cardano. The ecosystem is now EVM compatible. Solidity developers, get coding @SebastienGllmt @NicoArqueros.”

Congratulations to the entire DCSpark team! It's a great moment for Cardano. The ecosystem is now EVM compatible. Solidity developers, get coding @SebastienGllmt @NicoArqueros https://t.co/mOdnMtUOVS pic.twitter.com/89WlA6nXR7

— Charles Hoskinson (@IOHK_Charles) March 28, 2022

Read Also: Cardano Completes Parameter Upgrade, Takes Network To New Era. Here’s Why This Is Important

More Light on What Milkomeda C1 Brings To Cardano Ecosystem

Milkomeda, a novel sidechain project of the Blockchain startup dcSpark, allows EVM-compatible smart contracts to be executed from the Cardano mainnet.

Moreover, the project promises to make interoperability possible between Cardano blockchain and other layer one chains such as Ethereum, Solana, among others.

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