$ADA: IOG Releases Alpha Version of Its New Permissionless EVM Sidechain on Testnet

On Sunday (June 12), IO Global (aka “IOG”, formerly known as “IOHK”), the company responsible for Cardano’s research and development, offered some great news to the Cardano ($ADA) community.

As you may remember, on April 28, IOG published a blog post (titled “Interoperability is key to blockchain growth”), in which it talked about five Cardano sidechains. One of these was their own sidechain:

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Last but not least, IOG is planning to release a new permissionless EVM sidechain this year. This sidechain will allow developers to write Solidity smart contracts on Cardano, create EVM compatible DApps, and ERC20-compatible tokens (and in time, their own sidechains) while gaining many of the benefits of Cardano. That means users will benefit from far lower fees and faster settlement times on a more environmentally sustainable blockchain.

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The key features of the EVM sidechain will be full compatibility with Ethereum upgrades and tools, Web3 wallet compatibility, the use of the proof-of-stake Ouroboros Byzantine Fault Tolerance consensus protocol, and, of course, its ability to inherit security from the Cardano main chain.

Well, earlier today, IOG announced that the alpha version of this Ethereum Virtual Machine (EVM) sidechain had been released on the testnet.

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