Major Announcements and Testnet Launch for Cardano [ADA]

Major Announcements and Testnet Launch for Cardano [ADA]

The CEO of IOHK, Charles Hoskinson, dropped a lot of new surprise announcements today. These announcements were initially meant to be released on August 15, but Hoskinson ended up revealing them today instead.

He began the announcement by reassuring everyone that even though the volatility of the cryptocurrency markets right now is unsettling, it is a part of the cycle. Hoskinson said that they have “been there” and that “everything’s fine.” As per his words, a long-term strategy has already been devised which is eventually going to lead IOHK to the fulfillment of its promises about its technology, thus making the people in the crypto space happier. The focus, he says has always been on the fundamentals which makes Cardano sound.

IOHK has worked hard on two projects in the last few months: Prometheus, a publicly announced project, as well another project which has been a reference project built for the partners of the company to launch. This reference project is called Icarus.

Icarus is a Google Chrome extension which can be ported to many other platforms like Mozilla Firefox, and mobile applications. It is a complete wallet running on the browser. While the extension doesn’t have a complete copy of the blockchain, one can do everything they can do with Daedalus when they use the Icarus extension. As of now, Daedalus is the only cryptocurrency wallet which holds ADA while allowing transfers to the other wallets.

Some of the key features of Icarus are:

  • One-click install from the Chrome web store
  • Import a Daedalus wallet into Icarus
  • Recover your wallet in Icarus in 2-3 minutes
  • No need to download the entire blockchain
  • Fully security-audited

According to Hoskinson, Icarus is written as a hybrid of Javascript and Rust and is meant to create “the vanilla light wallet experience” for the people who intend to use mobile wallets and browser-based wallets.

This allows mobile partners to go ahead and develop third-party applications. It also integrates ADA into the browser. The users who are unable to get Daedalus to work due to sketchy network conditions and other technical or technological obstacles are benefited considerably by Icarus.

Also Read: Cardano’s CEO Talks About the Latest Projects in the Cardano Pipeline

On that positive note, the team behind Cardano (ADA) announced that the testnet has been launched. This is the first phase of a program which would interpret different programming languages such as the language of Ethereum, Solidity.

This development enables the project to identify errors in the codes of the smart contracts written in Solidity. It would also act as the first step in the development of a correct-by-design framework which would ensure efficiency and security while writing smart contracts. The release said:

“Today we launch the second Cardano testnet, which is for the IELE virtual machine (VM) and follows our recent launch of the KEVM testnet. The technology is not only an important step on the Cardano roadmap but also for the industry – in offering robust and reliable financial infrastructure. Developers now have the opportunity to explore the smart contracts technology that will be offered as part of Cardano, and to give us their feedback, which we look forward to receiving over the coming months.”

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Syed Ali Mudassar
It was when he was pursuing his graduation in Computer Science that he found his flair for writing about new and existing technologies. He likes researching about technologies and how they could help people. Currently, he works as the Content Manager at CoinFrenzy, a leading blockchain news, and media publication website.