Milkomeda will be the backbone for achieving and maintaining mass adoption for promising non-EVM cryptocurrencies, empowering them with well integrated smart contract enabled sidechains that provide seamless UX for both developers and general users. Milkomeda will empower L1 chains with alternative smart contract virtual machines, meaning that developers from other ecosystems have a smooth on-boarding experience improving adoption while taking advantage of the L1 chain's strengths.
The C1 sidechain will be the first EVM-based sidechain in the Cardano ecosystem, and is powered by the Milkomeda protocol. The C1 sidechain will use wADA (wrapped ADA) as it's base currency, meaning that users will have the opportunity to use their preferred cryptocurrency inside of all EVM-based dApps running on C1.
The sidechain bridge is the part of the Milkomeda protocol which allows users to:
- 1.Transfer assets between the L1 mainnet and the sidechain.
- 2.Use wrapped smart contracts.
The sidechain bridge is run by the validators of the system, who also are the block producers of the sidechain which the bridge is connected to.
Wrapped smart contracts are a novel innovation created by the Milkomeda team which will make it possible for users on the mainnet to call and use contracts on the sidechain without having to leave mainnet at all.
For example, users will submit a single Cardano transaction with the data and assets required to interact with a sidechain dApp (eg. DEX) and the sidechain bridge will take care of the rest. The assets/data will be transferred over to the sidechain, the requested action will be executed on the target dApp, and the results are deposited back to the user’s wallet on Cardano mainnet in the end.
Wrapped smart contracts provide next generation UX to the world of sidechains, allowing users to take advantage of the L1 blockchain as an interoperable coordination layer for all of their smart contract needs.
The Milkomeda DAO is a governance structure that lies at the core of the protocol. Users will have the ability to vote within the DAO on a wide range of topics from choosing the validator set of nodes that support the sidechains, adding brand new sidechains, spending treasury funds, and more. The DAO will run on the mainchain.
Validators are actors in the Milkomeda protocol who have two main responsibilities:
- 1.Act as the block producers for the sidechains.
- 2.Run the sidechain bridge which allow users to move assets and use wrapped smart contracts.
The initial number of validators will start out at 32, and will continue to increase overtime. This initial set of validators will be picked out of the current trusted stake pool operators within the Cardano ecosystem.
Milkomeda has no token. The Milkomeda team will not contact you requesting funds or advertising a token sale, because again there is no token. Please report anyone advertising a token to the team.