Cardano Announces Sidechain Creation Instrument
IOG has introduced a new toolbox for the deployment of custom sidechains on the Cardano network.
The company behind the Cardano blockchain has been building a suite of tools to facilitate the construction of sidechains, with the first sidechain already deployed on a public testnet.
As a proof of concept, IOG announced on January 12 that the team has created an Ethereum virtual machine (EVM)-compatible sidechain.
The blog article noted, “Sidechains make Cardano flexible and more scalable without sacrificing the stability or security of the main chain.”
Using the new tools, anybody may utilize Cardano’s infrastructure characteristics to create their own sidechain. In principle, it looks to work quite similarly to Polkadot’s unique sidechains.
It is said that the toolkit enables the sidechain to have its own consensus mechanism and features. It is linked to the root chain through a bridge that enables cross-chain transfers, and block finality is determined by consensus processes on the main chain.
The toolkit consists of three essential components. These are main-chain Plutus scripts using the Cardano programming language, a chain follower that tracks the main-chain data and events that regulate the sidechain, and the sidechain module that interprets primary chain data and executes the required ledger changes.
IOG indicated that the software is currently being inspected and that it would be made available as a public testnet later in January. “Developers will be able to evaluate its potential by executing many Solidity apps.”
Charles Hoskinson, a co-founder of Cardano, described his idea for the network’s sidechains in a December YouTube AMA video. He stated that Solana would be better served as a sidechain for Cardano.
“So you could take Solana, change the present consensus algorithm with something 25 times quicker and that doesn’t collapse constantly, and make it a Cardano sidechain,” he stated at the time.
According to CoinGecko, ADA prices have increased by 2.3% on the day to reach $0.329 at the time of writing.
Recent gains for the coin have been substantial as crypto markets finally begin to rise again. Consequently, ADA is up 22.5% over the previous week. However, Cardano is still 89.3% lower than its all-time high of $3.09 in September 2021.