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.
Judith Faith has been writing about cryptocurrencies and blockchain technology for over five years. She is well versed in the industry and has an extensive network of industry contacts. She is also a frequent contributor to various cryptocurrency publications. With her vast knowledge and experience, she is able to provide insightful and valuable content to her readers. Judith is also an active investor in the cryptocurrency space and has a vested interest in the success of the industry.
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