Yesterday saw the launch of the new Cardano, smart contracts TestNet. This launch has delivered some much sought after value to the Cardano currency and moreover, provides the team with some great news, as Cardano enters a new month.
Overall, with markets on the decline, cryptocurrencies are seeing diminishing values of late, Cardano at present does seem to be the exception to this, making terrific ground against the overall negative grain. This is good news and at least gives Cardano a bit of damage control. We can’t expect this trend within Cardano to continue forever, ultimately, the value of Cardano will balance back out, as it stands though these positive movements are exactly what Cardano needs in order to progress in the right direction. Should the negative market catch back up with Cardano, we should at least see that progress made in the wake of this good news, has stopped Cardano stooping as far down as it could have.
At the time of writing, Cardano is valued at $0.19, up 5.57%. With nearby currencies Stellar and TRON, both down 3.15% and 8.13% respectively, we can see exactly why this news is good news for Cardano, for now at least.
According to Gerard Moroney of IOHK:
“The KEVM TestNet, a correct by construction version of the Ethereum Virtual Machine (EVM) specified in the K framework. This technology, produced by Runtime Verification with the support of IOHK, is the first time that a complete formal semantics of the EVM have been produced. This is an important first in cryptocurrency that is a necessary step towards the promise of third-generation blockchains.”
Alongside this, we expect to see a second TestNet launched by Cardano in July. This in turn should see a boost to Cardano’s value, in the wake of the launch. As we know though, July is a little off yet, therefore, we don’t expect anticipation for this to take off until we see June through.
See the full IOKH report for yourself, here-
This news has given Cardano a splash of positivity, in a market that looks nothing more than negative. We hope that eventually the markets do recover. At best, this has given Cardano a boost in the right direction, a boost that in turn should see Cardano cement a solid future in terms of its smart contracting protocols. Technological advancements within the blockchain can only be a good thing. Soon enough, a MainNet could follow this that might very well skyrocket Cardano into a very prosperous future indeed.