This month, the Cardano ecosystem team is getting ready to release a software toolkit that will let developers build their own sidechains.<\/p>\n
On January 12, Input Output Global (IOG), a blockchain engineering firm created by Charles Hoskinson and formerly known as Input Output Hong Kong (IOHK), made the announcement<\/a>. The official technical documentation for the sidechain toolkit was also released<\/a> in the announcement.<\/p>\n Great move by @InputOutputHK<\/a> I believe this help spread the usage of Sidechains for Cardano which is a good strategy if it evolves to use mithril \/ state proofs<\/p>\n As a core contributor to @Milkomeda_com<\/a> we will continue to lead and hopefully support others to join https:\/\/t.co\/auqp2TkEg1<\/a><\/p>\n \u2014 nicoarq (@NicoArqueros) January 12, 2023<\/a><\/p>\n As a \u201cproof-of-concept,\u201d IOG developers have already used the toolkit to build an Ethereum Virtual Machine (EVM)-compatible sidechain public testnet. Once the audit is complete, developers will be able to deploy decentralized applications, create smart contracts, and transfer tokens between testing chains.<\/p>\n In addition to other application-specific capabilities, the toolkit will permit sidechain developers to select their consensus process.<\/p>\n The IOG developers have also revealed that they have used the toolkit to build a proof of concept on a public testnet that is compatible with the EVM sidechain. Moreover, once the audit is complete, developers can launch dApps and smart contracts and transfer tokens between different test chains. <\/p>\n Finally, the announcement notes that sidechain creators can use the toolkit to choose the consensus mechanism that best suits their app.<\/p>\n The term \u201cmainnet\u201d refers to the parent blockchain, while \u201csidechain\u201d describes a blockchain that operates independently of the mainnet. While the primary blockchain focuses on safety and decentralization, a sidechain can help the network scale.<\/p>\n In the long run, IOG expects this new development to lead to widespread adoption of the Cardano network, facilitating the launch of multiple Cardano sidechains and partner chains. <\/p>\n Meanwhile, Charles Hoskinson, the creator of ADA, has proposed that Solana joins Cardano as a \u201cpartner chain.\u201d Hoskinson shared this during a recent \u201cask me anything\u201d session.<\/p>\n He claims<\/a> that there would be synergies between the two blockchains. For example, Solana can take advantage of Cardano\u2019s security and infrastructure, while Cardano can take advantage of Solana\u2019s faster network.<\/p>\n Fans\u2019 Anticipation In Cardano Community<\/p>\n The announcement has been met with positivity from Cardano supporters, with one member of the community anticipating a price increase on par with Ethereum in recent years when several layer-2 sidechains and utility tokens were introduced.<\/p>\n 2023 is the Year of #Cardano<\/a> sidechains<\/p>\n \u2013 Midnight privacy sidechain Do you remember what happened when people started to build sidechains\/tokens on Ethereum? \u2014 Cardano Hieronymus (@CardanoHumpback) January 12, 2023<\/a><\/p>\n One enthusiastic participant predicted that the release and implementation of the toolkit would lead to a rise in the number of people making use of Cardano\u2019s sidechains in the coming weeks and months.<\/p>\n Great move by @InputOutputHK<\/a> I believe this help spread the usage of Sidechains for Cardano which is a good strategy if it evolves to use mithril \/ state proofs<\/p>\n As a core contributor to @Milkomeda_com<\/a> we will continue to lead and hopefully support others to join https:\/\/t.co\/auqp2TkEg1<\/a><\/p>\n \u2014 nicoarq (@NicoArqueros) January 12, 2023<\/a><\/p>\n Meanwhile, the IOG team noted that the toolbox isn\u2019t a remedy but will help with problem areas. For example, the security model, bridge experience, and SPO rewards structure are just a few. The team did say, though, that it was looking forward to community input and participation in these improvements.<\/p>\n According to its roadmap, Cardano will introduce parallel accounting systems to promote sidechains. This release is part of the Basho update that will allow for ADA\u2019s network compatibility. IOG\u2019s development of this toolkit marks their second sidechain solution for it.<\/p>\n IOG already implemented a simpler EVM-compatible sidechain in July to start the sidechain work on Cardano, so this isn\u2019t the first sidechain solution they\u2019ve integrated.<\/p>\n Additionally, in September, Cardano experienced its most crucial hard fork yet, the Vasil upgrade, which has been said to facilitate the cheaper and more efficient deployment of smart contracts and the operation of decentralized applications.<\/p>\n As of press time, ADA is trading at $0.3312, a 22.14% increase from the prior week\u2019s price, with a 24-hour trading volume of $448 million.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n This month, the Cardano ecosystem team is getting ready to release a software toolkit that will let developers build their own sidechains.<\/p>\n On January 12, Input Output Global (IOG), a blockchain engineering firm created by Charles Hoskinson and formerly known as Input Output Hong Kong (IOHK), made the announcement<\/a>. The official technical documentation for the sidechain toolkit was also released<\/a> in the announcement.<\/p>\n Great move by @InputOutputHK<\/a> I believe this help spread the usage of Sidechains for Cardano which is a good strategy if it evolves to use mithril \/ state proofs<\/p>\n As a core contributor to @Milkomeda_com<\/a> we will continue to lead and hopefully support others to join https:\/\/t.co\/auqp2TkEg1<\/a><\/p>\n \u2014 nicoarq (@NicoArqueros) January 12, 2023<\/a><\/p>\n As a \u201cproof-of-concept,\u201d IOG developers have already used the toolkit to build an Ethereum Virtual Machine (EVM)-compatible sidechain public testnet. Once the audit is complete, developers will be able to deploy decentralized applications, create smart contracts, and transfer tokens between testing chains.<\/p>\n In addition to other application-specific capabilities, the toolkit will permit sidechain developers to select their consensus process.<\/p>\n The IOG developers have also revealed that they have used the toolkit to build a proof of concept on a public testnet that is compatible with the EVM sidechain. Moreover, once the audit is complete, developers can launch dApps and smart contracts and transfer tokens between different test chains. <\/p>\n Finally, the announcement notes that sidechain creators can use the toolkit to choose the consensus mechanism that best suits their app.<\/p>\n The term \u201cmainnet\u201d refers to the parent blockchain, while \u201csidechain\u201d describes a blockchain that operates independently of the mainnet. While the primary blockchain focuses on safety and decentralization, a sidechain can help the network scale.<\/p>\n In the long run, IOG expects this new development to lead to widespread adoption of the Cardano network, facilitating the launch of multiple Cardano sidechains and partner chains. <\/p>\n Meanwhile, Charles Hoskinson, the creator of ADA, has proposed that Solana joins Cardano as a \u201cpartner chain.\u201d Hoskinson shared this during a recent \u201cask me anything\u201d session.<\/p>\n He claims<\/a> that there would be synergies between the two blockchains. For example, Solana can take advantage of Cardano\u2019s security and infrastructure, while Cardano can take advantage of Solana\u2019s faster network.<\/p>\n Fans\u2019 Anticipation In Cardano Community<\/p>\n The announcement has been met with positivity from Cardano supporters, with one member of the community anticipating a price increase on par with Ethereum in recent years when several layer-2 sidechains and utility tokens were introduced.<\/p>\n 2023 is the Year of #Cardano<\/a> sidechains<\/p>\n \u2013 Midnight privacy sidechain Do you remember what happened when people started to build sidechains\/tokens on Ethereum? \u2014 Cardano Hieronymus (@CardanoHumpback) January 12, 2023<\/a><\/p>\n One enthusiastic participant predicted that the release and implementation of the toolkit would lead to a rise in the number of people making use of Cardano\u2019s sidechains in the coming weeks and months.<\/p>\n Great move by @InputOutputHK<\/a> I believe this help spread the usage of Sidechains for Cardano which is a good strategy if it evolves to use mithril \/ state proofs<\/p>\n As a core contributor to @Milkomeda_com<\/a> we will continue to lead and hopefully support others to join https:\/\/t.co\/auqp2TkEg1<\/a><\/p>\nMainnet Growth<\/h2>\n
\n\u2013 Sidechains Toolkit EVM compatible
\n\u2013 Milkomeda, first Cardano sidechain
\n\u2013 \u2026more to come<\/p>\n
\nTake that and make it x10. https:\/\/t.co\/n8KWCX2SVh<\/a><\/p>\nMainnet Growth<\/h2>\n
\n\u2013 Sidechains Toolkit EVM compatible
\n\u2013 Milkomeda, first Cardano sidechain
\n\u2013 \u2026more to come<\/p>\n
\nTake that and make it x10. https:\/\/t.co\/n8KWCX2SVh<\/a><\/p>\n