The Cardano team has announced the launch of the second Cardano testnet. This testnet is for the IELE virtual machine (VM) and is following closely after the latest launch of Cardano’s KEVM testnet. The launch of this testnet serves as an essential step on the platform’s roadmap and is also vital to the industry at large as it offers a strong and reliable financial infrastructure. With the testnet, developers are now enabled to play around with smart contract technology, which will eventually be offered as part of Cardano.
About Smart Contracts
Smart contracts refer to the software programs that are immutably stored on a blockchain. These smart contracts are executed by VMs, and the data is stored on that same immutable infrastructure.
Smart contracts offer a reasonable benefit to several businesses that are rooting for the optimization of their business operations. Several industries, including supply chain, automotive, healthcare, and real estate, are starting to invest in research to aid their understanding of how this technology can be deployed in their business activities so as to give them a competitive advantage.
IELE is a virtual machine that has a low-level language. It has been designed to translate and execute smart contracts on the Cardano blockchain. It is designed to meet the changing needs of the smart contract markets by making the writing of secure smart contracts easier and also allowing the use of a register-based architecture instead of a stack-based architecture. IELE was developed by Runtime Verification in partnership with IOHK, which funded the project.
At the moment, the IELE language and its VM have been completed and are now currently in the process of being integrated into Cardano. While the process of integration is ongoing, developers can currently use the IELE VM, alongside the Mallet and Remix tools, for the creation and execution of smart contracts on the IOHK testnet site.