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Investors love Cardano’s new testnet: The cryptocurrency is basking in a 13.37% price spike

Cardano has announced the released first revised version of its KEVM testnet and the cryptocurrency’s price has seen a skyrocketing increase since.

Written by Becky Leighton Published on

Cardano excitedly announced the released first version of its KEVM testnet – the first smart contracts testnet for the academic-focused platform.

A testnet is an alternative blockchain used for testing – a sort of test network – which has separate tokens which don’t aim to hold any value.

Cardano’s new testnet is a frame of the Ethereum Virtual Machine (EVM), written in K, so it is able to define all of the formalities of the EVM in a way which is suitable to the Cardano team’s approach to the method and science behind developing the project.

The testnet has been designed as a means to boost the growth of the Cardano project since it offers an opportunity for developers to take an EVM based-application and operate it instead on the KEVM. Another benefit of the project is that it offers a function to test whether a smart contract might be operable.

Professor Grigore Rosu, heading up the development team said about the release of the testnet:

“This is an important first in cryptocurrency that is a necessary step towards the promise of third-generation blockchains.”

Taking a look at the price of Cardano, the project has seen a massive spike increase – gaining a whopping high of 13.37% in value. Clearly, KEVM is of intrigue to investors. At press time, Cardano trades at $0.206332 USD.

The news is mirrored by IOTA’s recent announcement, which launched several stratified testnet channels for developmental purposes.

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Written by

Internet writer looking to find the right piece. Also presents things on radio and happens to be a chip off the old blockchain. @BeckyRLeighton

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