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Date:
12th Oct 2020
Author:
CryptoAltum Analytics Team

Cardano’s IOHK Seals Deal with Runtime Verification Inc

Charles Hoskinson, the co-founder of Cardano, said on Oct 11 that IOHK--the technical wing of the Proof-of-Stake smart contracting platform, has signed a deal with Runtime Verification Inc to help in the development of its virtual machine called IELE.


Details: 

IELE is a virtual machine just like the Ethereum VM tasked with compiling a dApp’s programming language enabling them to run in Cardano. According to Charles, IELE is his “favorite” project. Supporters of the smart contracting platform are bullish that IELE will make the Ethereum VM look like a toy. Overly, Cardano supports any programming language including Solidity. Developers can run any dApp based on any language in the platform thanks to IELE.

Impact on the ADA Price: 

Bullish. Cardano is still a work in progress. Shelley was recently launched giving it staking capacity. Meanwhile, the metadata functionality, which is a component of Goguen, is set for release late this month. The faster smart contracts are supported, the more bullish it is for ADA prices.


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