IOHK has announced that IOG has released a tool that has been designed to allow the Cardano ecosystem to expand with sidechains that have been built from scratch. Using the toolkit, sidechain creators will be able to choose their own consensus mechanism and other features that will make their sidechain unique, while still inheriting the security of the main chain as well.
There was a recent announcement that IOG (Input Output Global) has assembled a team of specialists to build a toolkit for constructing custom sidechains based on the rock-solid foundation of Cardano. A proof-of-concept sidechain public testnet has been created by using the toolkit to construct a sidechain compatible with the Ethereum virtual machine (EVM).
The Cardano sidechain is a way for Cardano to become extensible and more scalable without compromising the stability and security of the main chain. The Cardano project is known for being a third-generation blockchain, based on academic research and written in Haskell, in order to rely on mathematical proofs to ensure its correctness.
In simplest terms, a sidechain is simply a blockchain that is connected to and is dependent on the main blockchain.
There are a few features that can be assigned to the sidechain through the toolkit, including its own consensus algorithm. In order to be able to transfer assets to and from the sidechain, a bridge is built between the main chain and the sidechain. Blocks are determined through the use of a consensus mechanism that relies on the security of the main chain to determine the finality of a block.
A public testnet is scheduled for the end of January 2023, as IOHK says the sidechain application for EVM is still being audited and will be available for public testing in the following weeks. By running a few Solidity applications on the platform, developers will have the opportunity to get a feel for its potential by trying it out.
It is very important for DApp developers who plan on using the EVM sidechain to take note that data on the main chain must be considered final before moving to the sidechain.
In January 2023, EVMsidechain is going to release a public testnet for its sidechain. In this process, the community will be able to deploy DApps, build smart contracts, and move tokens between test environments.
Developing a sidechain for Cardano with the new toolkit is an important step toward the development of this blockchain and its ecosystem in the future. A number of people believe new expansions of this project can have a positive impact on the price chart, too, since it is one of the most active ones in the industry. This effect has been awaited by many investors for months now.