IELE is a variant of LLVM specialized to execute smart contracts on the blockchain. Its design, definition and implementation have been done at the highest mathematical standards, following a semantics-first approach with verification of smart contracts as a major objective. According to https://cardanoroadmap.com, its testnet will be launched in April 2018.
Research and development of IELE is funded by IOHK and led by UIUC Professor and founder of Runtime Verification, Grigore Rosu. Rosu and team are applying insights from their research on KEVM, a formal semantics in the K framework for the Ethereum Virtual Machine, and KLLVM, a formal semantics in K for LLVM, to build a more secure and efficient virtual machine.
Unlike the EVM, which is a stack-based machine, IELE will be a register-based machine, like LLVM. IELE will have an unbounded number of registers and will also support unbounded integers.
IELE’s technology offers superior security and dependability to block chain systems. Further, it decreases vulnerabilities that might lead to hacking. The IELE project, involving RV, students at the University of Illinois and IOHK research and development team, was led by professor Rosu. IELE was developed with high mathematical standards and state-of-the-art programming language theory. To implement the verification of smart contracts, IELE opted for a semantics-first approach.
Once deployed, IELE will serve as a standard lower-level platform for both translating and executing smart contracts from higher level languages.
What is Cardano?
Cardano is a project that aims to create a next generation smart contract platform and ecosystem by learning from and improving on lessons learned in the Bitcoin and Ethereum communities. The project claims to be “the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach.” The project’s goals include improved scalability, security, governance, and interoperability with traditional financial systems and regulations.
March 27 saw Cardano announce the release the Cardano 1.1.0 software update. The update is the first major software release of Cardano since the MainNet launch in September.
The next big thing for Cardano in 2018 is SHELLY. Shelly is focused on ensuring that the key elements (that Byron established) are in place so that the technology would evolve into a fully decentralized and autonomous platform. With Shelly, Cardano is looking to become fully decentralized.
Cardano (ADA) announced its launch on Centra Wallet on the 28 of February.
The currency’s rise to the top in a rather short time has been quite spectacular. With millions of users investing in Cardano, the currency’s market cap has reached the top-10 status in a very short time. The price of Cardano has been on a constant fall for about three months in a row, and a strong line of resistance has formed on top. The currency needs to break through this line of resistance and it needs a strong bull-run to gain momentum in an otherwise bearish market. If the trend continues we may even see ADA price falling to a low of $0.14-$0.15 in the near future.