Cryptocurrency

Cardano launches Smart Contract Testnet for IELE VM

Cardano launches Smart Contract Testnet for IELE VM

The ADA Cardano has released a Testnet for the IELE Virtual Machine (VM). This is the second testnet released by Cardano, the first was KEVM testnet. The new Testnet is being developed for testing smart contracts and for refining any potential flaws in the system. The IELE virtual machine was built by collaborating with IOHK.

The IELE virtual machine

IELE VM testnet is being developed to run smart contracts on the Cardano Blockchain. The VM possess the full capability to understand programs written in Solidity, which is native Ethereum language. This language has to be translated so that the KEVM testnet understands the commands. The main purpose is that the security errors can be found more easily and contracts can be developed and functioned more effectively. Smart contract security is very much important as it will be targeted by the hackers.

Cryptocurrencies which consists of smart contract security protocols are obviously much ahead of the competition. One of the major scandals in the crypto history, the DAO, happened because the smart contract vulnerability was utilized.

One of the main goals of the ADA cryptocurrency team is to integrate more languages. By this, KEVM testnet will be able to understand more languages along with JavaScript and Python. Also, developers will be able to develop dApps easily using this technology. There is a high demand for developers who can build dApps as per the requirement of the industry.

What is the importance of Smart Contracts?

The first reason is that Testnet will enable Cardano to perform tests and experiments related to its smart contracts. The contract will be managed by real, proficient developers so that it becomes effective. Moreover, the feedback given by the developers will provide Cardano’s Team more details about vulnerable issues, bugs, etc.

All the changes will directly make required improvements which will make the network as strong as possible, before going live and fully available to the community. Also, the IELE VM is believed to bring a lot of improvements about the security of the blockchain technology. The technology is completely new and the team will explore new things in the near future.

What are the future plans of Cardano?

Cardano began its journey just a year ago. But within a year it is in the list of top 10 cryptocurrencies. Also, Cardano has launched 2 Tested in the last 4 months. Additionally, Cardano has made various important collaborations and updated its Daedalus Wallet and much more.

Despite such a wonderful start, the Cardano has just begun the race and the team has lots of aims for the platform and its coin’s future. When IELE VM will be completed, it will finally join the Cardano main blockchain and become its sidechain. This will have a great impact on its scalability. Moreover, as ADA is one of the most stable coins in the world, the latest move will add to its improvement.

Source

bitcoin
bitcoin

Bitcoin (BTC)

Price
$ 3,481.99
ripple

XRP (XRP)

$ 0.307184
ethereum

Ethereum (ETH)

$ 90.96
stellar

Stellar (XLM)

$ 0.115253
tether

Tether (USDT)

$ 1.01
litecoin

Litecoin (LTC)

$ 24.74

Today’s Poll

Which is technically the best Cryptocurrency?