• Loading ticker data...
Coin Prices →
Altcoin News

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.

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

Related Articles