The KEVM is a high quality, formally verified smart contract virtual machine compatible with the Ethereum virtual machine (EVM). Formally specified in the K framework, the KEVM uses formal semantics for elements such as the configuration and transition rules of EVM, resulting in a more secure virtual machine for smart contracts.
The IELE testnet underpins the path to a more secure, robust smart contract design for Cardano. It is a new register-based virtual machine for smart contracts built to take account of the lessons learned from LLVM. IELE aims to provide the most secure and high-performance platform for running smart contracts, while also delivering the most flexible set of interfaces possible to execute different programming languages.