Cardano (ADA) Testnet Focused on Smart Contract Translation
The IOHK team just revealed the launch of its Smart Contracts IELE Cardano Testnet. This constitutes a major development in Cardano’s Roadmap as it shows the progress made on the KEVM Testnet launched earlier in May.
The IOHK developers explained in a press release that due to the implementation of CardanoTestnet, the community will be able to interact much more easily with the features of what would be the real Cardano blockchain.
“Today we launch the second Cardano testnet, which is for the IELE virtual machine (VM) and follows our recent launch of the KEVM testnet. The technology is not only an important step on the Cardano roadmap but also for the industry – in offering robust and reliable financial infrastructure.
Developers now have the opportunity to explore the smart contracts technology that will be offered as part of Cardano, and to give us their feedback, which we look forward to receiving over the coming months.”
The IELE Virtual Machine can run programs that have their code written in Solidity (the code language of the Ethereum network) and it coverts them into a language that can be understood by the KEVM testnet. This leads to the easy identification of existent code errors in contracts, enabling a process of secure smart contract writing which is supported by a “correct-by-design” framework.
Once the implementation is completely finalized, it is expected that the development of dapps will start to become easier to apply and use, thus increasing the adoption rate of this blockchain.
A very enthusiastic community is following Cardano’s development. Its academic focus, as well as the constant updates, raise very high expectations within the crypto-verse.
Charles Hoskinson, a lead developer of the project, defines it as a “Third Generation Blockchain” which aims to solve the issues of scalability and interoperability which the first generation (Bitcoin) or second generation (Ethereum) blockchains are currently experiencing.
One of the previous objectives that the implementation of Ouroboros Genesis claims it has fixed was the Proof-of-Stake algorithm:
“IOHK has released Ouroboros Genesis, the latest version of Ouroboros, the algorithm powering Cardano. This feature matches the security guarantees of proof-of-work protocols in a way that was previously thought infeasible. Find the video and paper here: http://ow.ly/4WVJ30jHg5S”
“We’re very proud to announce Ouroboros Genesis, a new paper from the IOHK research team. This latest version of Ouroboros, the algorithm powering Cardano, is a step forward in the cryptography that… “
Currently, the ADA coin is priced at $0.121797 USD and has a market capitalization of 3,157,849,485 US.