Virtual Machine for Blockchain Launched by Runtime Verification and IOHK
Runtime Verification, a University of Illinois start-up founded by computer science professor Grigore Rosu, and blockchain research and development company IOHK have announced the official release of IELE, a next-generation virtual machine for the blockchain. The technology will be deployed over the coming months in Cardano cryptocurrency, designed and built by IOHK. IELE is designed to bring high level of security and dependability to blockchain systems and reduce the risk of vulnerabilities that can lead to hacks.
Professor Rosu stated: “IELE is the crown jewel of our research over the past decade, combining our experience in designing and formalizing many programming languages and virtual machines, with the latest, cutting-edge research in formal semantics and program analysis and verification. IELE is a critical component of a large-scale research and development project funded by IOHK, whose ultimate objective is to set, by example, a high standard for the third generation of cryptocurrencies in terms of scalability, security, and programmability.”