Cronos zkEVM Testnet Upgrades to Tethys
According to a recent newsletter, Cronos (CRO) zkEVM Testnet has successfully upgraded to its latest major release, ‘Tethys’. This represents a significant milestone ahead of the much-anticipated launch of the Cronos zkEVM mainnet, slated for late summer 2024.
What is Cronos zkEVM?
Cronos zkEVM is a Zero-Knowledge (ZK) Layer 2 blockchain network of Ethereum, marking a crucial milestone for Cronos in scalability and mainstream adoption. The network, a hyperchain using ZK Stack, was launched in partnership with Cronos Labs, Matter Labs, the zkSync team, Crypto.com, VVS Finance, Fulcrom Finance, and Veno Finance.
New Developments in the Upgrade
The Tethys upgrade introduces several key improvements and new features. These include shared liquidity, yield-bearing assets, account abstraction, and a host of technical enhancements. The upgrade also presents a range of new URLs for the Cronos zkEVM Testnet blockchain explorer, JSON RPC (wallet connection), and faucet.
Implications for Users and Developers
While the Cronos zkEVM Testnet is primarily aimed at developers, end users are advised not to expect to transfer real crypto assets or make investments on the testnet. However, a user rewards program involving easy-to-accomplish quests on the testnet is due to be announced soon, with more information expected in the first half of June 2024.
Future Plans and Expectations
The exact launch date of the mainnet will depend on the connection of the shared bridge with the zkSync / ZK Stack ecosystem. Deposits from Ethereum are expected to be possible by late June to early July, with the Cronos zkEVM alpha mainnet expected to go public in late summer, and several applications are in the pipeline.
Gratitude for the Support
Cronos expressed its gratitude to the #CROFam community for supporting the ecosystem thus far. They also voiced their excitement regarding the possibilities offered by this new and complementary network.
Image source: Shutterstock
. . .
Tags
Credit: Source link
