Cronos zkEVM testnet upgrade to Tethys
According to a recent newsletter, the Cronos (CRO) zkEVM testnet has successfully upgraded to its latest major release, ‘Tethys’. This marks an important milestone ahead of the Cronos zkEVM mainnet launch, scheduled for late summer 2024.
What is Khronos zkEVM?
Cronos zkEVM, Ethereum’s zero-knowledge (ZK) layer 2 blockchain network, marks an important milestone for Cronos. scalability and mainstream adoption. The network, a hyperchain using the ZK Stack, was launched through partnerships with Cronos Labs, Matter Labs, the zkSync team, Crypto.com, VVS Finance, Fulcrom Finance, and Veno Finance.
New developments in upgrades
The Tethys upgrade introduces several major improvements and new features. This includes shared liquidity, yielding assets, account abstraction, and various technical enhancements. The upgrade also brings various new URLs for the Cronos zkEVM Testnet blockchain explorer, JSON RPC (wallet connection), and Faucet.
Implications for users and developers
The Cronos zkEVM testnet is primarily aimed at developers, but end users are advised not to expect to transfer any real cryptocurrency assets or invest in the testnet. However, a user rewards program related to quests that can be easily performed on the testnet will be announced soon, with more information expected in the first half of June 2024.
Future Plans and Expectations
The exact release date of the mainnet will depend on the shared bridge and connectivity of the zkSync/ZK Stack ecosystem. Deposits on Ethereum are expected to be available by late June to early July, the Cronos zkEVM alpha mainnet is expected to be released in late summer, and several applications are in the pipeline.
Thanks for your support
Cronos thanked the #CROFam community for supporting the ecosystem thus far. They also expressed excitement about the possibilities offered by this new and complementary network.
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