This virtual machine is designed to execute smart contracts on the Cardano network.
Cardano (ADA), a blockchain platform for building decentralized applications, announced on Monday the launch of its second testnet for the IELE virtual machine (VM), which will validate smart contracts on the network using an accompanying low-level language. The company is now integrating VM into the Cardano network and will provide a blockchain for storing and retrieving data. While the integration is underway, developers can use IELE VM along with the Mallet and Remix tools to create and execute smart contracts on the IOHK testnet platform.
This launch follows the recent launch of the KEVM testnet and represents an important technological step in Cardano's expansion of financial infrastructure.
In addition, the first major decentralized application, Traxia (TMT), was recently launched on the Cardano blockchain following a $15.1 million ICO held in March. Traxia is building a fiat-backed decentralized finance platform that will convert invoices into commercially viable contracts. The Traxia team said they chose the Cardano platform because they believe it is currently the best blockchain ecosystem available.
ADA is currently ranked 8th on the AltDex 100 Index (ALT100), the benchmark index for large-cap cryptocurrencies and tokens.
According to sludgefeed.com
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