Input Output Hong Kong (IOHK), the team behind smart contract platform Cardano (ADA), has launched a new sidechain proof of concept that is compatible with Ethereum (ETH).
The public testnet uses components of the sidechain toolkit and is compatible with the Ethereum Virtual Machine (EVM). The aim of the project is to expand the Cardano blockchain’s utility.
IOHK has not given a specific time frame for the testnet but has encouraged developers and validators to use both the toolkit and sidechain.
Recently, crypto analytics platform Santiment found that whale activity on Cardano has been spiking, which previously led to a 36% increase in ADA’s price.