IOHK Launches First Cardano Smart Contracts Testnet – May 29th Cryptocurrency News

Cardano’s ADA is starting to look a bit better today after IOHK announced the release of the KEVM testnet. This is the first smart contracts testnet for Cardano. So let’s take a closer look. Smart contracts must be formally verified, so they run exactly as specified and are free from bugs or flaws. Only then can they be widely adopted as financial infrastructure that can be relied upon by billions of people. The KEVM is a correct by construction version of the Ethereum Virtual Machine specified in the K framework. This technology, produced by Runtime Verification with the support of IOHK, is the first time that a complete formal semantics of the EVM have been produced. According to the team, this is an important first in cryptocurrency that is a necessary step towards the promise of third-generation blockchains.

Sources: www.coinmarketcap.com
https://iohk.io/blog/first-cardano-testnet-launches-for-smart-contracts/

Please remember this is news, not investment advice.