finbold.com
In one of the most recent achievements of its team, Cardano (ADA) ecosystem developer Input Output has launched a fully operational public testnet for its Ethereum (ETH) sidechain, following the release of its toolkit for building sidechains.
Specifically, Cardano’s public test network of the proof-of-concept sidechain, established on top of the Ethereum Virtual Machine (EVM), is the first network of its kind developed directly by Input Output, according to the team’s Twitter announcement on February 7.
📢OUT NOW: Following the latest #sidechain toolkit announcement, the #EVM sidechain proof of concept public testnet is now available! #Cardano
— Input Output (@InputOutputHK) February 7, 2023
According to the announcement, this proof of concept testnet is temporary “and will be regularly respun during its pilot phase,” but “ultimately, it is intended to be a community resource, and we encourage developers and SPOs to get involved and collaborate.”
With this in mind, the team said it would soon follow up with a video tutorial series, as well as host a Discord stage to answer the public’s questions about the sidechain toolkit, directing anyone interested to post their questions in the comments and in the #ask-sidechains Discord channel.
More interoperability
It is also important to note that this isn’t the first time that the Ethereum and Cardano networks have been joined this way. In August 2021, a sidechain project Milkomeda was launched by blockchain development firm dcSpark, allowing EVM-compatible smart contracts to be executed from the Cardano mainnet.
Since then, the sidechain, whose very name illustrates the vision of interoperability (‘Milky Way’ and ‘Andromeda’), has been operating with success, recording nearly 10 million transactions going through the network, and the number of crypto wallets surpassing 100,000.
Other development efforts
Meanwhile, the Cardano team continues to work hard on the ecosystem’s development, ranking second in its GitHub development activity, as well as among leading smart contract crypto projects by staking market capitalization, as the number of smart contracts on its network surpassed 5,000.
On top of that, Cardano has recorded the highest rate of whale activity in the past nine months, recording transaction numbers not seen since May 2022, and suggesting the price of its native token could witness a significant increase in the near future.
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