The firm behind the Cardano blockchain has been developing a suite of tools to enable the creation of sidechains, with the first already being implemented as a public testnet.
On Jan. 12, IOG stated that the team has built an Ethereum Virtual Machine (EVM)-compatible sidechain as a proof of concept.
“Sidechains make Cardano extensible and more scalable without compromising mainchain stability or security,” the blog post explains.
Here’s the lowdown on this exciting new project! https://t.co/Ny9tQuJh5K
— Input Output (@InputOutputHK) January 12, 2023
Cardano continues to build
With the new toolset, anyone can take advantage of the properties of the Cardano infrastructure to build their own sidechain. In essence, it looks very similar to how Polkadot works with custom sidechains.
The toolkit allows the sidechain to have its own algorithm and consensus features, he said. It is connected to the root chain via a bridge that allows for inter-chain transfers, and the purpose of the block is derived via the main chain’s consensus mechanisms.
The toolkit is made up of three main components. These are the mainchain Plutus scripts that leverage the Cardano programming language, a chain follower that tracks mainchain data and events that govern the sidechain, and the sidechain module, which interprets data from the primary chain and implements the necessary adaptations of the general ledger.
The software is still being audited, IOG stated, adding that it will be available as a public testnet later in January.
“Developers will be able to try it out by running a few Solidity apps to get a feel for its potential.”
In a YouTube AMA video in December, Cardano co-founder Charles Hoskinson explained his vision for sidechains on the network. In fact, he suggested that Solana would be better off as a Cardano sidechain.
“Then you could take Solana, replace the current consensus algorithm with something 25 times faster and not crash all the time, make it a Cardano sidechain, then Solana would be paid to ADA holders to maintain it,” he said in that moment. .
ADA Price Outlook
ADA prices have gained a marginal 2.3% on the day to hit $0.329 as of this writing, according to CoinGecko.
The token has been making solid gains recently as the crypto markets finally start moving higher again. As a result, ADA increased by 22.5% over the past week.
However, the Cardano coin is still down 89.3% from its September 2021 all-time high of $3.09.
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This post Cardano Launches Toolkit for Creating Custom Sidechains
was published first on https://cryptopotato.com/cardano-launches-toolkit-for-custom-sidechain-creation/