Defi Hub Acala Based on Polkadot Integrates Tools Such as Truffle, Waffle, and MetaMask
Polkadot Based Defi Hub Acala Integrates MetaMask, Waffle, and Truffle
As revealed, a new development called the EVM+ development has been released by Acala, one of the main Defi hubs of Polkadot, and it is compatible with popular Ethereum tools.
Despite being a parachain on Polkadot based on Substrate, Acala already speeds up interoperability with the Ethereum Virtual Machine (EVM).
At present, Ethereum is leading the smart contract platform but other networks like Cosmos and Polkadot are offering promising solutions to allow for cross-chain interoperability across blockchain networks.
Back in the month of February, the team launched a module called Acala EVM and it enabled Solidity contracts to be implemented on Acala and the Polkadot ecosystem.
The recent amalgamation will be allowing Decentralized Finance applications to access the Polkadot ecosystem using MetaMask, a popular Ethereum wallet.
More About the Defi Staples
The VP of Growth at Acala Dan Reecer made an announcement in a blog post that said:
“This allows EVM-compatible dApp platforms to expand their collateral and product offerings to their existing user base, while onboarding hundreds of thousands of new Polkadot-native users.”
In addition to this, it should be noted that the Defi staples can stretch cross-chain lucidity and utilize assets such as Polkadot as collateral beyond the ecosystem of Ethereum.
Though the ecosystem of Polkadot is way different than that of Etherum in terms of technicality, DOT’s ecosystem provides an allowance for modules that can conveniently establish connections with other networks.
Along with this, the Acala EVM allows the users to link their Ethereum addresses with their Polkadot addresses while overcoming the need to manage multiple accounts.