Cardano Just Released Their First Smart Contract Testnet

The First Smart Contract platform for Cardano is now Live. This marks the milestone for the much-hyped Third Generation blockchain. The TestNet for the same called KEVM was launched today.

The Cardano team claims that this is the first time that the complete semantics of the EVM(Ethereum Virtual Machine) has been produced and that it is an important first step in the Third generation Blockchains.

Developers will now be able to take any code that runs on the EVM and execute in on KEVM and test whether the smart contracts run properly or not. The properties of these smart contracts have to specified in the K-framework

Read about K-Framework Here.

Video introducing the TestNets:

Their second TestNet called IELE which is a new Virtual Machine for Cardano is also set to launch in July. They claim that with the launch of this TestNet developers will be able to write, compile and execute smart contracts with improved security and performance.

They mention:

For now, we recommend that developers use the Solidity language on both testnets. However, the vision is that eventually smart contracts will be written in high-level languages that translate to IELE, such as new languages like Plutus (being developed by IOHK), but also existing languages such as Java or Python, and then IELE-to-IELE translators ensure the resulting code is optimal.

Although there is good news for this project and good things lined up, it doesn’t seem to reflect much on the price movement in this Bear market. The price of Cardano is currently $0.18 which has dropped more than 6% in a day and over 27% in the past week.

Charles Hoskinson Founder of Cardano Tweeted:

Input Output Tweeted:

Source: Cardano

Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity

Did you like the news you just read? Please leave a feedback to help us serve you better

Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.