July 30th was a significant date in the crypto-verse for every crypto-enthusiast was aware that the Tron (TRX) Foundation was going to launch the testnet of the Tron Virtual Machine. There was also the eagerly awaited news of the new secret project – dubbed Atlas – that will develop ways of integrating the BitTorrent platform into the Tron ecosystem.
Unbeknownst to many, is that the Cardano (ADA) project also released a Testnet version of their Virtual Machine on the same day of July 30th. In the announcement about the launch, the team at Cardano stated the following:
Today we launch the second Cardano testnet, which is for the IELE virtual machine (VM) and follows our recent launch of the KEVM testnet. The technology is not only an important step on the Cardano roadmap, but also for the industry – in offering robust and reliable financial infrastructure.
This testnet version of the IELE Virtual machine enables developers to test out smart contracts on the Cardano platform. The announcement went on to add this fact as follows:
Developers now have the opportunity to play around with the smart contracts technology that will eventually be offered as part of Cardano, and to provide their feedback, which we look forward to receiving over the coming months.
This is progressive news for the Cardano project that might have gone by unnoticed. The reason why this is a major development is that with the IELE Virtual Machine, developers can design and execute smart contracts on the Cardano blockchain using low level programming languages. This is what the Tron Foundation is currently doing with its Tron Virtual Machine that was launched on the same day.
IELE has further been created using formal methods to address security and correctness concerns that have revealed themselves on the Ethereum platform. Developers can also formally verify smart contracts on the IELE Virtual Machine before they deploy them permanently on the Cardano Blockchain. These aspects of the Caradano Virtual Machine is what will attract developers to the project. These are the same developers Tron is also hoping to attract with its TVM.
The IELE Virtual Machine is in the process of being integrated into Cardano which will provide a blockchain to store and retrieve data. This in turn makes the second half of 2018 more exciting for other projects such as Zilliqa (ZIL), Tron (TRX) and IOST plan on launching smart contracts on their blockchains also. The stage is set for an all out battle to attract developers to the respective blockchains.