The KEVM smart contracts testnet has been launched! Developers will be able to take any application that runs on the EVM and execute it on the KEVM – This is a necessary step towards the promise of third-generation blockchains. Read more on our forum: https://t.co/m0RgsQQsz0
— Cardano Foundation (@CardanoStiftung) May 29, 2018
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.