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Cardano's Milkomeda sidechain, which has been working for almost two months now, may one day become a roll-up to Cardano's main chain, according to Cardano Insights.
As Cardano blockchain explorer suggests, Milkomeda has processed through more than five million transactions since launch, or almost 100,000 transactions daily. Despite such a large flow of transactions, users are not facing any issues with transaction costs or network congestion. The average cost of a transaction is at $0.001 USD.
In terms of security:
— Cardano Blockchain Insights (@InsightsCardano) May 21, 2022
1. Even today @Milkomeda_com has better security and is cheaper than Binance Smart Chain because trusted Cardano operators are running it. If they would do something "dodgy" - they are likely to receive bad publicity and loose delegators on L1.
Currently, Milkomeda supports wrapped tokens via two bridges: Celer and Nomad. Traders can use stablecoins like USDT and USDC and cryptocurrencies like AVAX, BNB and ETH, besides a variety of Ethereum-based tokens.
In terms of security, the platform offers better and cheaper solutions compared to sidechains like BSC thanks to trusted operators on Cardano who run the network. As Insights Cardano suggests, any explicit activity by operators would cause an immediate loss of delegator spots on L1.
Tomiwabold OlajideMilkomeda plans on having 32 validators and may now offer a relatively high capacity of 500 to 1,000 transactions per second. Also, another sidechain or L3 solution would have no issues running whatsoever. In comparison, Binance Smart Chain has only 13 validators, which puts it behind Milkomeda.
Milkomeda launched on Cardano network first with Solana support planned for the future. The project delivers roll-up tech for L1 ecosystems like Cardano and offers the building of cross-chain decentralized applications with Solidity, the most popular smart contracts language in the industry.
Denys Serhiichuk
Vladislav Sopov
Dan Burgin