Cardano (ADA) Releases Virtual Machine in Test Mode, Coin Keeps Sliding

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Tue, 07/31/2018 - 16:18
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Yuri Molchan
Cardano releases its own IELE tool for testing smart contracts
Cardano (ADA) Releases Virtual Machine in Test Mode, Coin Keeps Sliding
Cover image via U.Today

Similarly to TRON, Cardano (ADA) project has made another achievement on its way of development and launched the testing version of its own virtual machine IELE. It allows trials of its smart contracts prior to sending them to the mainnet.

Cardano vs. Ethereum

Until now the Cardano platform has been operating as an ordinary Blockchain project and was far off from its plans to provide a venue for launching distributed apps (dApps).

Cardano was one of the numerous protocols considered by many as a rival to Ethereum, still Vitalik’s network remains the most popular and is perceived as the top-notch basis for smart contracts. The majority of dApps working on the market is Ethereum-based.

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IELE

Cardano’s IELE virtual machine (VM) works on its own programming language, which was specially created for creating secure digital contracts on the Cardano protocol.

ADA market performance

During the last several weeks, the ADA coin has been dropping in price, even though the crypto market has been recovering optimism. The asset trades mostly on the Binance exchange against Tether, however, it does not help much.

Recently, ADA has been trading around the point of $0.14 but has been sliding and on July 30 began to slowly go down again around midday UTC.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.