Cardano Launches Sidechain Toolkit
13 Jan, 2023 ● Coin news
The company that created the Cardano blockchain has been working on a set of tools that will allow the building of sidechains, with the first already deployed as a public testnet. IOG announced on the 12th of January that the team had built an Ethereum virtual machine (EVM)-compatible sidechain as a proof of concept.
Anyone may use the new tools to develop their own sidechain by using the characteristics of the Cardano system. In essence, it looks to be quite like how Polkadot handles bespoke sidechains.
According to the toolkit, the sidechain can have its own consensus process and features. It is linked to the root chain via a bridge that facilitates cross-chain transfers, and block finality is determined by main chain consensus methods. The toolkit is made up of three main parts.
These are main-chain Plutus scripts written in the Cardano programming language; a chain follower that tracks main-chain data and events that regulate the sidechain, and a sidechain module that analyzes primary chain data and executes appropriate ledger changes. IOG indicated that the software is currently being inspected and that it would be released as a public testnet later in January.
As a "proof-of-concept," IOG engineers have already utilized the tools to build an EVM-compatible sidechain public testnet. When the audit is through, anybody will be able to construct decentralized apps, make smart contracts, and transfer tokens across testing chains.
Movement of Cardano since Joining the Market
Source: Trading Economics
Sources:
https://tradingeconomics.com/adausd:cur
https://cointelegraph.com/news/cardano-ecosystem-set-to-expand-with-custom-built-sidechains
https://cryptopotato.com/cardano-launches-toolkit-for-custom-sidechain-creation/
