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
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