Milkomeda Receives SupaGrant From the Algorand Foundation to Bring EVM Capabilities to the Algorand Blockchain

Milkomeda Receives SupaGrant From the Algorand Foundation to Bring EVM Capabilities to the Algorand Blockchain

Novel L2 protocol, Milkomeda, receives a grant to develop the Milkomeda A1 Rollup, bringing EVM capabilities to Algorand and enhancing blockchain interoperability.

Milkomeda receives SupaGrant from the Algorand Foundation to develop its A1 Rollup for the Algorand ecosystem. This novel protocol introduces a user-friendly, EVM compatibility solution to the Algorand ecosystem and opens it up to the hundreds of thousands of developers writing in Solidity—the world’s most popular smart contracting language.

“Through the SupaGrant the Algorand Foundation has provided key support for enabling Milkomeda A1 to get off the ground and become a reality,” says Rob Kornacki, Milkomeda Foundation Director. “We are excited to be the first project bringing rollups and the EVM to the Algorand ecosystem, and look forward to sharing many of the engineering insights we’ve acquired with the developer community to help spur further growth. We are looking forward to being a key part of the ecosystem as a whole with a core focus on bringing new capabilities and experiences to all Algorand users.”

Marketing Technology News: Ping Identity Announces Identity Excellence Award Winners 2022

The Milkomeda A1 Rollup is an EVM-based, layer 2 technology that functions through a novel data availability protocol and was developed specifically to bring EVM capabilities to the Algorand blockchain. The A1 Rollup is live on the Algorand public testnet and the mainnet launch is expected in October. Bringing EVM capabilities and the developers writing in Solidity to Algorand improves blockchain interoperability and increases the quantity and variety of dApps available to the users of Algorand. It also boosts the adoption of Algorand, by both users and developers, by increasing the overall versatility and accessibility of the Algorand blockchain.

This allows developers to use their existing skill set to immediately begin writing smart contracts and dApps for the Algorand ecosystem, enabling them to leverage the high throughput, instant finality, and low-cost benefits of the carbon-neutral Algorand blockchain.

Marketing Technology News: MarTech Interview with Erica Gunn, Chief Marketing Officer at Canto

The SupaGrant program has been implemented by the Algorand Foundation to award grants to experienced R&D teams for the building of secure and high-quality solutions for the Algorand ecosystem. The grant awarded to Milkomeda was designated for teams who “will explore and accelerate the technical work needed to deliver EVM compatibility on Algorand”, and represents a joint effort by the Algorand Foundation and Milkomeda to increase the interoperability of the Algorand blockchain and the number of dApps and developers working on it.

“I’m thrilled to see the launch of Milkomeda on Algorand,” says John Woods, Algorand Foundation CTO. “Now every single project that’s running on Ethereum can come and deploy on Algorand with zero friction. When projects realize how great the UX is on Algorand (fast, cheap and robust!) they’ll see it provides a best-in-class experience for their users!”

Picture of PRNewswire

PRNewswire

PR Newswire, a Cision company, is the premier global provider of multimedia platforms and distribution that marketers, corporate communicators, sustainability officers, public affairs and investor relations officers leverage to engage key audiences. Having pioneered the commercial news distribution industry over 60 years ago, PR Newswire today provides end-to- end solutions to produce, optimize and target content -- and then distribute and measure results. Combining the world's largest multi-channel, multi-cultural content distribution and optimization network with comprehensive workflow tools and platforms, PR Newswire powers the stories of organizations around the world. PR Newswire serves tens of thousands of clients from offices in the Americas, Europe, Middle East, Africa and Asia-Pacific regions.

You Might Also Like