The Rangers Protocol has recently launched its testnet for its users. Their main aim for doing so was to provide an Ethereum Virtual Machine-compatible solution, one that supports cross-chain contract interoperability. The firm has launched this testnet to benefit the new developers who have no previous experience in blockchain. Thanks to the Rangers Ethereum Virtual Machine and its interoperability. Also, the team announced on Friday that it has successfully migrated its first Dapp to this testnet and it went live on the 19th of July.
More On Rangers Protocol’s Testnet
It migrated BlueStone, an Ethereum-based lending protocol to this testnet. They described this migration as “smooth and developer-friendly” and all this is possible because of EVM’s compatibility. Although it looks like there are alternative solutions that use blockchain technology friendly to Solidity developers, the rangers protocol describes its testnet as useful for “new developers who do not know the blockchain technology beforehand.” According to reports, people interested in building with the protocol find it easier to create non-fungible tokens or NFTs and gaming applications in an unapproved environment.
Mary Ma, the co-founder of Rangers Protocol, announced in June that they will launch their testnet in July after receiving a seed round of $3.7 million and private financing. The co-founder believes that the protocol will have decentralized applications on the network. It will include a cross-chain protocol, EVM compatible system, and NFT protocol. They have been continuously working on this project for the last three years.
Additionally, Crypto.com also just unveiled its chain test network. It will allow applications on EVM-compatible chains to move to its ecosystem. Cronos is the open-source testnet that is powered by the Ethermint proof of stake chain. This testnet works on a Proof of Authority consensus mechanism. Rangers is a Chinese crypto company, formerly known as Rocket Protocol. It has a valuation of $63 million. Several Venture funds that support this project are Pantera Capital, Huobi Ventures Blockchain Fund, Framework Ventures, Alameda Research, AU21 Capital, Hash key Capital, SevenX Ventures, SNZ, Spark Digital Capital, etc.
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