Milkomeda to Enable EVM Contracts for Cardano Users

Cardano is set to expand its utility for developers and users by enabling access to Ethereum Virtual Machine (EVM) contracts using any Cardano (ADA) wallet. The feature is made possible through Milkomeda, a network that connects blockchains such as Cardano and Algorand to EVM contracts. Milkomeda’s upcoming feature will allow every Cardano user to use EVM contracts directly from any Cardano wallet. CEO Sebastien Guillemot announced that Milkomeda will soon enable staking rewards for all EVM users, including smart contract developers, with rewards paid automatically every five days.

The Ethereum Virtual Machine (EVM) provides the environment in which all Ethereum accounts and smart contracts operate, serving as a virtual computer for developers to create decentralized applications (dapps). When deployed on other blockchains, EVMs enable developers to build dapps and decentralized finance (DeFi) applications similar to those built on Ethereum. With the new feature, Ethereum application developers can build on Cardano’s network using Solidity, the computer language used to code Ethereum, without the need to install new toolkits or learn a new language.

This feature will enable applications to be used solely with Cardano tokens, instead of ether, increasing the utility for holders. By expanding Cardano’s network to support Ethereum’s EVM contracts, the platform’s potential for developers and users will grow significantly. It will be interesting to see how developers will take advantage of this new feature to build innovative applications that can be used with Cardano tokens. The staking rewards for EVM users will also incentivize developers to build on Cardano’s network, further expanding its use cases and potential.