A new function on the Ethereum Virtual Machine network Milkomeda is needed to make the switch possible.
Users of the Cardano network will shortly be able to use any ADA wallet to interact with Ethereum Virtual Machine (EVM) transactions.
This is possible because of a forthcoming function on Milkomeda, a network that links EVM contracts to blockchains like Cardano and Algorand.
As CEO Sebastien Guillemot announced late Thursday, “Milkomeda (Cardano’s EVM layer) is launching a feature allowing EVERY Cardano user to use EVM contracts directly from ANY Cardano wallet.”
Guillemot said, “Milkomeda is soon enabling staking rewards for all EVM users, including smart contract developers,” and added that the Cardano goods based on Milkomeda would pay staking rewards “automatically every 5 days.”
All Ethereum accounts and smart contracts exist in an Ethereum Virtual Machine (EVM), virtual computer programmers use to build distributed apps.
Decentralized applications (dapps) and decentralized financial (DeFi) applications developed for Ethereum can be ported to other blockchains using EVMs.
Ethereum application writers could use Solidity, the programming language used to create Ethereum, to build on Cardano’s network without learning a new language or running additional toolkits.
Cardano coins gain more value for their owners when they can be used instead of ether in the apps above.
