Cardano Users Soon being able to Access Ethereum Dapps Directly From ADA Wallets
Cardano, one of the leading smart contract platforms, is making strides in expanding its utility and interoperability with Ethereum, the largest and most popular blockchain for decentralized applications (dapps).
According to a recent announcement by Sebastien Guillemot, CEO of Milkomeda, a network that connects blockchains such as Cardano and Algorand to Ethereum Virtual Machine (EVM) contracts, Cardano users will soon be able to access EVM contracts directly from any Cardano wallet.
EVM is the environment in which all Ethereum accounts and smart contracts live, serving as a virtual computer utilized by developers for creating dapps. When deployed on other blockchains, EVMs can allow developers to build dapps and decentralized finance (DeFi) applications similar to the way they would on Ethereum.
The feature would allow Ethereum application developers to build on Cardano’s network using Solidity – the computer language used to code Ethereum – without the need for installing new toolkits or learning a new language. Such applications can then be used solely with cardano tokens instead of ether, increasing utility for holders.
This is not the first time that Cardano has shown its interest in bridging the gap with Ethereum. In September 2021, Cardano launched a connector for dapps integration on the network using its Yoroi Wallet. Yoroi Wallet comes from the commercial arm and solutions provider of the Cardano Ecosystem known as EMURGO.
The connector, which was in beta testing for four months, enables users to interact with smart contracts on Cardano using their Yoroi Wallet. The connector also supports Plutus, Cardano’s native smart contract language, which is based on Haskell.
The launch of the connector coincided with the Alonzo hard fork, which enabled smart contract functionality on Cardano for the first time. Since then, Cardano has seen a surge in dapp development and adoption, with over 100 dapps currently live on the network.
According to data from DappRadar, Cardano dapps have also surpassed Ethereum dapps in terms of newly acquired users, with some projects seeing triple-digit growth rates. For example, HOP Protocol, a cross-chain bridge that supports Cardano, has seen its user count increase by 3,005.06% in the past 30 days.
The ability to access Ethereum dapps directly from ADA wallets could further boost Cardano’s appeal and competitiveness in the fast-growing dapp space. It could also attract more developers and users from Ethereum, which is facing challenges such as high gas fees, network congestion and scalability issues.
Cardano’s founder Charles Hoskinson has previously stated that his vision is to create a “universal platform” that can interoperate with any other blockchain. With the upcoming feature from Milkomeda, Cardano is one step closer to achieving that goal.