Cardano (ADA), a blockchain platform for building decentralized applications, announced Monday that it has launched its second testnet for the IELE virtual machine to test smart contracts on the Cardano Blockchain using its attendant low-level language.

According to the announcement, the VM is currently being integrated into Cardano and will provide a blockchain to store and retrieve data.

While the integration is taking place, developers have the opportunity to use the IELE VM along with the Mallet and Remix Tools to create and execute smart contracts on the IOHK testnet site.

The launch follows the recent launch of the KEVM testnet and represents a major technological push towards expanding the Cardano financial infrastructure.

The first major DApp, Traxia (TMT) recently went live on the Cardano blockchain after raising $15.1 million via an ICO in March. Traxia is building a fiat-enabled decentralized global trade finance platform that converts invoices into tradeable smart contracts. The Traxia team has stated that it chose the Cardano platform because they believe it is currently the best available blockchain ecosystem.

ADA is currently ranked 8th in the AltDex 100 Index (ALT100), a benchmark index for large-cap cryptocurrencies and tokens.

More: Cardano smart contracts testnet IELE launches
Related: Traxia: The First Project Built on the Cardano Blockchain

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

Voyager