Milkomeda C1 Sidechain, which brings EVM compatibility to the Cardano network, is scheduled to debut on March 28 at 5:00 PM UTC. The latest integration will be another watershed moment for Cardano as it looks to focus on interoperability and scalability.
It’s official, we are going Live!
Monday March 28th Milkomeda C1 Mainnet.
At: 11AM CST I 12PM EST I 5PM CET pic.twitter.com/C9ZLhofWz1
— Milkomeda (there is no token) (@Milkomeda_com) March 25, 2022
The layer 2 protocol has collaborated with product-based blockchain firm DcSpark to create a ‘Milkomeda Accelerator’ that aims to support entrepreneurs interested in building their web3 projects on the protocol. The two protocols will provide $10,000 USDC in grant funding, hands-on support, and resources to selected projects.
The Milkomeda project provides EVM-functionality to layer 1 blockchains that are incompatible with EVMs, such as Cardano, Solana, Algorand, Terra, and more. The platform is also currently working to bring EVM compatibility to Solana and Algorand, creating an interoperable solution for several use cases like blockchain games, NFTs and DeFi.
Milkomeda claims to offer several benefits, including faster and cheaper transactions, no new separate token for transaction fees, and seamless portability of dApps to Milkomeda sidechain, amongst others.
With the integration, it will be possible for end-users to send ADA from Cardano’s mainnet to the bridge address, receive wADA (wrapped ADA) on the Milkomeda C1 sidechain, use it to pay transaction fees for NFT trading, operate on DeFi, and more.
At the time of writing, Cardano was trading at $1.18, up by 3.13% from yesterday and 32.63% from last week.