Why Cardano Will Dominate the EVM and Gaming Industry

Cardano’s recent partnerships with Paima Studios and Milkomeda have given it the opportunity to establish itself as « a powerhouse in on-chain gaming. » Users won’t need to bridge their ADA tokens to another network in order to play any blockchain-based games on other layer-1 blockchains going forward.

The Cardano Blockchain and the Milkomeda Protocol

Using any ADA wallet, Cardano blockchain users can now access Ethereum Virtual Machine (EVM) smart contracts after the Layer 2 (L2) network known as Milkomeda was made public. As the most recent step in Cardano’s succession of advancements, this has been made possible as a result of the network’s integration with Paima Studios.

With roll-up technologies for well-known layer-1 ecosystems, EVM-based sidechains fulfill Milkomeda’s vision. It does this by supplying the most well-liked smart contracting language, Solidity, which is the same one employed by the Ethereum network. As a result, « Milkomeda promotes inter-blockchain interoperability and accessibility for developers at the layer-2 level. »

Developers of decentralized applications (dApps) in the EVM space may now use Milkomeda, a Solidity-written platform, to create their dApps on Cardano. The ADA token also allows users to conduct their transactions quickly and simply.

With the help of the brand-new Milkomeda protocol, popular blockchains like Cardano, Algorand, Polkadot, and Solana may be connected. The project’s goal is to enable cryptocurrencies that aren’t built on the EVM to gain from the Ethereum ecosystem’s sizable user base.

Cardano is a layer 1 blockchain that has significant aspirations from Milkomeda Foundation developers. Sebastien Guillemot, co-founder of Milkomeda, Paima Studios, dcSpark, and Flint Wallet as well as the company’s CTO, recently stated on Twitter that « Cardano will be a top Ethereum Virtual Machine (EVM) chain as early as next month. »

The anticipation followed the announcement of Milkomeda C1’s launch on the mainnet on March 28. Beginning in the middle of 2021, the project introduced Cardano’s EVM layer, enabling ADA users to use EVM contracts directly from any wallet. Guillemot posted a forecast on Twitter that read:

“All in pure ADA. This will instantly make Cardano one of the largest EVM chains by user count.”

Paima Studios and Cardano Blockchain

Regarding the alliance between Cardano and Paima Studios, the integration will enable users to take advantage of on-chain games using their ADA tokens. Users won’t need to transfer their tokens to other networks in order to play blockchain-based games as a result.

Given the security risk associated with connecting tokens between blockchains, the cooperation is a valuable asset. The integration will lessen the likelihood of attacks in 2022 when threat actors take advantage of flaws in bridge tokens between blockchains.

Every game is non-custodial thanks to the integration, which increases security. This means money is kept in users’ own wallets, negating the need for transfers to the game wallets. Additionally, the integration makes it easy for games created on other networks to be migrated to the Cardano network. In a similar vein, users of these other networks might play games on the Cardano blockchain without having to shift their assets to the network or bridge tokens.

Enhanced Networking

It is noteworthy that it is quite possible that the Cardano Treasury provided funds for both Milkomeda and Paima Studios. Each project was given up to $40,000 from the network to aid in the creation of the Cardano ecosystem.

If such is the case, it is not unexpected considering Cardano’s track record of accomplishment in the field of development. The inventor of Cardano, Charles Hoskinson, stated in a post on April 3 that « The number of unique wallets participating in staking on the Cardano network exceeded those of Ethereum considerably. » Cardano was praised by Hoskinson as being « pretty special. »

These changes have strengthened the upward trend for the price of Cardano (ADA), which has shown great conviction from the bulls to overcome important resistance levels.

ADA has gained over 1% in the previous day and is currently bidding for $0.39. The alternative currency has gained 17% over the past month and 7% over the past week. Investors tend to be more confident now, lured to Cardano’s long-term possibilities, as seen by this.

Recommended For You

About the Author: Paul

Laisser un commentaire

Votre adresse e-mail ne sera pas publiée. Les champs obligatoires sont indiqués avec *