dcSpark Announces Development Of New Sidechain Protocol: Milkomeda
dcSpark, a product based blockchain company which builds critical products and solutions on top of the most promising crypto projects in the space, announces the development of a novel sidechain project named Milkomeda.
Focused on aiding non-EVM cryptocurrencies in achieving and maintaining mass adoption, Milkomeda will empower them with both EVM-based sidechains and novel tech that provide seamless UX for both developers and general users.
Given that the latest generation of blockchains (Cardano, Solana, Polkadot, etc.) all address scalability in their own way, there is little value to be gained out of deploying sidechains or rollups which attempt to increase throughput. What these blockchains do lack however are robust developer communities and overall adoption which the likes of Ethereum have managed to acquire.
Milkomeda addresses this by building out sidechains with alternative VMs connected to the L1 mainchains which use their cryptocurrency as their base asset. In other words, as an example for Cardano, Milkomeda will allow sidechains to be deployed that connect directly to the mainchain and use wADA (wrapped ADA) as the asset to pay for transaction fees.
The dcSpark team aims to advance the current state of affairs in sidechain tech to attract both devs and users to migrate to new ecosystems. As such they will be developing and deploying a novel piece of tech for the Milkomeda protocol called wrapped smart contracts.
With wrapped smart contracts, the L1 blockchain becomes a robust coordination layer that users stay on while executing smart contracts on the sidechain without having to move over to the sidechain themselves. This brings novel UX to the table for end users, wherein for example they will have the power to execute smart contracts on an EVM sidechain straight from Cardano mainnet (likewise in any other L1 deployment) without having to switch wallets or even know what is going on behind the scenes.
“We believe that providing such flexibility and power to end users will set a new standard for some of the most promising smart contract enabled blockchains and their ecosystems at large thanks to Milkomeda,” said Robert Kornacki, CSO at dcSpark.
Milkomeda will first be deployed on Cardano, bringing EVM compatibility into the ecosystem as initially envisioned in the Cardano roadmap. The EVM-based sidechain which will connect directly to Cardano will be named M1, and will be both the very first Milkomeda sidechain as well as the very first Cardano sidechain. It will use wADA as its base assets, and the Milkomeda validators who run the sidechain will be selected from existing stake pool operators and other trusted entities within the ecosystem.
Future deployments of Milkomeda will open the doors for interoperability between Cardano, Solana, and other L1 blockchains as well. In this way Milkomeda will work towards pursuing both the sidechain and interoperability visions of multiple blockchains.
“With the initial launch of the protocol and the M1 sidechain we are excited to be a part of bootstrapping Cardano’s sidechain era as a first step for Milkomeda. Furthermore, by bringing a new piece of game changing tech onto the scene, wrapped smart contracts, we are excited to be on the front line pushing the vision of multi-VM blockchain ecosystems and making it a reality. We believe this is an inevitable direction wherein L1 blockchains, like Cardano and Solana, have their strong security guarantees act as a backbone and coordination layer for a diverse ecosystem of many smart contract languages and virtual machines.” said Nico Arqueros, CEO at dcSpark.
Charles Hoskinson, CEO of IOHK, stated: “Interoperability is crucial for mainstream blockchain adoption; at IOHK, we don’t believe there will be ‘one blockchain to rule them all’, and instead value collaboration. When it comes to interoperability and scalability, sidechains are an essential part of our vision for Cardano. We’ve pioneered research into Proof of Stake sidechains, and recognise how important they are for interoperability within our industry. Milkomeda is a valuable addition to the Cardano ecosystem, as it will allow developers to benefit from Cardano’s speed, security and lower costs, without needing to switch wallets, or navigate a completely new operating system.”
If you are interested about the finer details of how Milkomeda works and what will be possible, click here to learn more.
