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Cardano [ADA] which has also been in the race to release test nets had been talking about it for a while. What sets it apart is they have scheduled not one but two test nets, one of which was launched on May 28th and the other is set to be released sometime in July.

Both the test nets are distinct from each other and serve different purposes. The first one encircles smart contracts and is called the KEVM test net while the other is IELE. However, both of them are based on the Ethereum Virtual Machine [EVM]. Their long-term goal remains the same as they have always been mentioning i.e. to build a 3rd generation cryptocurrency. These test nets are hence important steps towards accomplishing their goal.

KEVM Test Net:

The KEVM testnet, a correct by construction version of the Ethereum Virtual Machine (EVM) specified in the K framework is produced by Runtime Verification with the support of IOHK. It is the first time that a complete formal semantics of the EVM has been produced. This will allow developers to take any application that runs on the EVM and execute it on the KEVM. This is done by formally specifying a contract’s desired properties in k, combining the contract with the KEVM specification and later on using the k framework to verify those properties.

The founder of IOHK, Charles Hoskinson also announced the release of Cardano 1.2, via Twitter where he mentioned the process of upgrades of Cardano [ADA] 1.2 – the CL test Net, stake pools, and delegation.

IOHK’s official tweet stated:

“First Cardano smart contracts test net launches today, the KEVM test net. This is the first time that a complete formal semantics of the EVM have been produced and important first in cryptocurrency that is a step towards building 3rd generation blockchains.”

Parallelly, the IOHK team is resuming their world tour activities where they took an oath to transform under-performing countries like Ethiopia, Rwanda, and others. Their transform Africa summit in Africa is one of a kind initiative to empower and introduce technology for the betterment of the country and the world on a whole.

They also posted regarding this with updates following up the agreement:

“Vision for #blockchain in #Africa is becoming a reality – Ethiopia and Rwanda are keen to realize the promise of the technology. Read about the recent achievements for #Cardano in Africa on the blog now from @jjtoconnor, IOHK Director of African Operations.”

The latest updates from the team today morning was the much-anticipated release of their paper wallets. They announced Daedalus 0.10.0 and Cardano 1.2.0 with new supports and added features while a new and improved version of the wallet API is now available for cryptocurrency exchanges and other parties.

The supporters are now standing on their toes waiting for their next test net release – IELE and few other test nets in between or after as announced by Duncan Coutts, the IOHK director of engineering. They will probably run multiple test nets simultaneously is what the team is expecting said the director of engineering.

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This information should not be interpreted as an endorsement of cryptocurrencies or a recommendation to invest. Historic performance is no guarantee of future returns. As an investment class, cryptocurrencies are speculative investments and investing in cryptocurrencies involves significant risks – they are highly volatile, vulnerable to hacking and capital loss and sensitive to secondary activity. Before investing you should obtain advice and decide whether the potential return outweighs the risks.


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