Cronos Labs Unveils Public zkEVM Chain Testnet to Foster Mainstream Adoption

Cronos Labs, the web3 start-up accelerator behind the Cronos ecosystem, has launched a zero-knowledge Ethereum Digital Machine (zkEVM) testnet blockchain community on prime of the Ethereum Sepolia testnet.

In response to an announcement shared with CryptoPotato, the Cronos zkEVM Chain testnet is launched in an alliance between Cronos Labs, Matter Labs, engineering groups from digital asset alternate Crypto.com, and decentralized finance (DeFi) platforms VVS Finance, Veno Finance, and Fulcrom Finance.

Cronos Labs Launches zkEVM Chain Testnet

The Cronos zkEVM testnet is a hyperchain utilizing the ZK Scalable Clear Argument of Information (STARK) modular framework. As it’s on prime of the Sepolia faucet, the chain is secured by the Ethereum testnet from a remaining settlement and information availability standpoint.

Cronos Labs claims the brand new chain is the primary public testnet using the ZK Stack framework. As a hyperchain, the zkEVM testnet runs alongside a typical settlement on the Ethereum mainnet. By 2024, the community will undertake a shared native bridge to the Ethereum mainnet, enabling customers to ship tokens and messages whereas having fun with the latter’s safety.

Ken Timsit, Managing Director of Cronos Labs, stated: “The Cronos zkEVM testnet represents a possibility for Cronos Labs and our companions, together with VVS, Fulcrom, and Veno, to experiment with ZK layer 2 know-how to be able to put together the subsequent section of progress beginning in 2024. Different Cronos apps are warmly invited to affix the testnet.”

Cronos’ zkEVM Testnet to Use TCRO

The brand new community makes use of a Boojum STARK-based ZK-proof system, which runs on common processing models (GPUs) whereas decreasing charges. The zkEVM chain additionally makes use of TCRO, a testnet model of CRO, the native cryptocurrency of the Cronos ecosystem, to pay transaction charges. Cronos Labs stated charge funds could be made in different cryptocurrencies because of the native account abstraction carried out on the protocol degree.

“After we launched the ZK Stack, we opened up the door for anybody wanting to construct on prime of Ethereum to take action by deploying hyperchains. Whether or not you’re constructing a specialised Rollup or a common goal one, hyperchains assist you to faucet into Ethereum’s intensive userbase base and liquidity whereas preserving its sturdy safety and decentralization”, stated Marco Cora, senior vp of enterprise and operations at Matter Labs, the agency behind Ethereum-based layer-2 scaling answer zkSync.

As the most recent sister chain within the Cronos community, the zkEVM testnet will ease the motion of liquidity between the ecosystem and Ethereum.