Milkomeda Paves the Way for Blockchain Growth and Interoperability With the Launch of the EVM-Based A1 Rollup on Algorand – AiThority

Milkomeda Paves the Way for Blockchain Growth and Interoperability With the Launch of the EVM-Based A1 Rollup on Algorand – AiThority

AiThority – Artificial Intelligence | News | Insights | AiThority
Milkomeda, builders of novel Layer 2 solutions designed to enhance user experience, increase developer traction, and deliver the next generation of inter-blockchain interoperability for leading Layer 1 ecosystems, has today launched the A1 Rollup, a unique interoperability solution, on the Algorand mainnet.
Fresh off the heels of its recently awarded Algorand SupaGrant for EVM capabilities, Milkomeda delivers on its promises and launches the A1 Rollup to realize a new vision of blockchain interoperability. The A1 Rollup is an EVM-based (Ethereum Virtual Machine) layer 2 solution that exposes the Algorand ecosystem and its users to the hundreds of thousands of developers writing in Solidity, the world’s most popular smart contracting language.
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The launch of the A1 Rollup on Algorand significantly boosts both user and developer adoption of Algorand as, for the first time ever, developers from the Ethereum ecosystem can now easily deploy their dApps, tools and infrastructure to Algorand users—simultaneously expanding into a new market and increasing the variety of dApps available to the Algorand community.
“I’m thrilled to see the launch of Milkomeda on Algorand,” said John Woods, Algorand Foundation CTO. “Now every single project that’s running on Ethereum can come and deploy on Algorand with zero friction. I think 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.”
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The A1 Rollup uses wrapped ALGOs (milkALGOs) as its base currency, significantly streamlining and simplifying the onboarding process for users of Algorand. Using the Milkomeda permission-less bridge, users wrap their ALGOs and other Algorand native assets (ASAs) onto the A1 Rollup with a few simple steps. This then enables them to use their milkALGOs to interact with the EVM-based dApps deployed on the A1 Rollup.
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“Developers now have the opportunity to more easily jump into the Algorand ecosystem, while also enjoying the many benefits of Algorand as the underlying Layer 1 blockchain,” said Robert Kornacki, Milkomeda Foundation Director. “One such benefit, instant finality, enables dApps to have significantly smoother end-to-end flows in a way which hasn’t been possible before on any existing rollups on competing L1 blockchains. We are excited to be a part of the Algorand ecosystem with the launch of A1, and look forward to seeing how both existing and new developers jump into A1 and start building new infrastructure to take the Algorand ecosystem to the next level.”
The long term vision of Milkomeda on Algorand will span across several large steps forward including adding support for multiple VMs, improving performance and interoperability, and creating a seamless user experience when interacting with L2 dApps for all Algorand users. In order to achieve this vision Milkomeda has laid out a multi-year roadmap and recently completed another round of funding. The 3.1M USD round was led by Archetype and also included Sora Ventures and the Algorand Foundation.
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[To share your insights with us, please write to sghosh@martechseries.com]
AIT News Desk is a trained group of web journalists and reporters who collect news from all over the technology landscape. The technical space includes advanced technologies related to AI, ML, ITops, Cloud Security, Privacy and Security, Cyberthreat intelligence, Space, Big data and Analytics, Blockchain and Crypto.
To connect, please write to AiT Analyst at news@martechseries.com.
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