Input Output Global (IOG) \u2014 the team behind the Cardano ecosystem \u2014 will release a software toolkit in late Jan. 2023 that will enable developers to deploy custom-built sidechains on Cardano aimed at improving the ecosystem.<\/p>\n
The news<\/a> was announced by IOHK \u2014 a blockchain engineering company founded by Charles Hoskinson and now known as IOG \u2014 on Jan.12, which also attached<\/a> the official technical documentation for the sidechain toolkit. <\/p>\n ⛓️ The #Cardano<\/a> sidechain toolkit was previewed at #IOScotFest<\/a>, and we\u2019re happy to share the first iteration is out now. <\/p>\n Here\u2019s the lowdown on this exciting new project! https:\/\/t.co\/Ny9tQuJh5K<\/a><\/p>\n \u2014 Input Output (@InputOutputHK) January 12, 2023<\/a><\/p><\/blockquote>\n IOG developers have already used the toolkit to construct an Ethereum Virtual Machine (EVM)-compatible sidechain public testnet as a \u201cproof of concept,\u201d and when the audit is complete, anyone will be able to deploy decentralized applications, create smart contracts and move tokens between different testing chains.<\/p>\n The toolkit will also enable the creators of the sidechains to choose their own consensus mechanism in addition to other application-specific features.<\/p>\n A sidechain is an independent blockchain<\/a> that works adjacent to the parent blockchain, often referred to as the mainnet. Sidechains often attempt to add scalability to the mainnet which often prioritizes decentralization and security.<\/p>\n IOG hopes the sidechain development will \u201cpave the way for mass adoption\u201d on the Cardano ecosystem and \u201chopes to see a family of Cardano sidechains and partner chains emerging\u201d in the near future.<\/p>\n Among the \u201cpartner chains\u201d Hoskinson would like to see on Cardano is Solana, having recently stated<\/a> on a Dec. 10 Ask Me Anything call that Cardano could leverage Solana\u2019s network speed whilst Solana benefits from Cardano\u2019s infrastructure and security.<\/p>\n The news has Cardano fans pumped, with one member of the community hoping that Cardano experiences a similar price pump similar to that of Ethereum 2020-2021 when many layer-2 sidechains and utility tokens were rolled out.<\/p>\n 2023 is the Year of #Cardano<\/a> sidechains<\/p>\n – 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><\/blockquote>\n Another member of the Cardano fanbase called the toolkit deployment a \u201cgreat move\u201d that it will \u201cspread the usage of Sidechains for Cardano\u201d in the months to come:<\/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><\/blockquote>\n However, IOG noted that the toolkit won\u2019t serve as a \u201ccomplete solution.\u201d<\/p>\n \u201cThere are some known areas for improvement, like the bridge experience, SPO rewards mechanism and the security model. All these areas will be worked on with the community as we go \u2013 carefully and steadily \u2013 collaborating for feedback, thoughts and recommendations.\u201d<\/p><\/blockquote>\n In addition to sidechain improvements, the protocol will soon introduce parallel accounting styles as part of its “Basho phase” to improve interoperability in the Cardano ecosystem, according<\/a> to the roadmap. <\/p>\n Related: <\/em><\/strong>Cardano to launch new algorithmic stablecoin in 2023<\/em><\/strong><\/a><\/p>\n This isn\u2019t the first sidechain solution<\/a> that IOG has integrated on Cardano too, having already built a more basic EVM-compatible sidechain in July 2022 to get the sidechain development rolling. <\/p>\n Cardano also underwent its most significant hard fork<\/a> \u2014 the Vasil upgrade \u2014 in September 2022, which has been said to make smart contract deployment more efficient and enable decentralized applications to run at lower costs. <\/p>\n The price of Cardano\u2019s token, ADA<\/a> is currently $0.3297, up 19.11% over the past week.<\/p>\n<\/div>\n\n
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Cardano community pumped<\/h3>\n
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– Sidechains Toolkit EVM compatible
– Milkomeda, first Cardano sidechain
– …more to come<\/p>\n
Take that and make it x10. https:\/\/t.co\/n8KWCX2SVh<\/a><\/p>\n\n