Rangers protocol introduced their testnet to users to furnish an Ethereum Virtual Machine Compatible solution that supports cross-chain contract interoperability.
In an announcement on July 23, Rangers Protocol said that it successfully departed its first DApp on July 19, live to the testnet. Additionally, the undertaking departed an Ethereum based lending protocol, BlueStone, to the testnet, a move that Rangers defined as ‘smooth and developer-friendly given its Ethereum Virtual Machine compatibility.
However, alternative solutions are utilizing Solidity-friendly blockchain technology, Rangers Protocol hammering its testnet as beneficial to new developers without blockchain background proficiency. Moreover, anyone interested in using the protocol will have an accessible time creating NFTs, and gaming applications, without a permission environment.
Rangers Protocol co-founder’s Statement
In June, Mary Ma Rangers Protocol co-founder announced that the firm would be launching its testnet in July following $3.7 million seed and particular equity funding rounds. Mary Ma also alleged that the protocol would have decentralized applications on its network as a cross-chain protocol, EVM compatible system, and NFT protocol.
Moreover, reportedly the project is the work of three years of development.
Recently, Crypto.com also launched its chain testnet, letting projects built on EVM-compatible chains transfer over to its ecosystem. The open-source testnet, Cronos, operates a proof of authority consensus algorithm powered by proof of stake chain Ethermint.
About Rangers Protocol
Rangers, branded initially as the Rocket Protocol, is a China-based crypto firm with a general valuation of $63 million. Venture funds backing the project comprise Pantera Capital, Blockchain Fund, Huobi Ventures, Alameda Research, Framework Ventures, AU21 Capital, SevenX Ventures, Hash key Capital, SNZ, Spark Digital capital, and others.
Ethereum is an open-source blockchain, decentralized and innovative contract functionality. After Bitcoin, Ethereum is the biggest cryptocurrency by market capitalization. Moreover, Ethereum is the most actively used blockchain. In 2014, crowdfunded the development and the system went live on July 30, 2015. Furthermore, The outlet allows developers to deploy immutable and permanent decentralized apps onto it, with which users can interact.