Cronos zkEVM Testnet Upgrades to Tethys: A Major Milestone
Cronos zkEVM Overview
Cronos zkEVM is a Zero-Knowledge (ZK) Layer 2 blockchain network built on Ethereum. It represents a significant step for Cronos in enhancing scalability and driving mainstream adoption. This network, termed a hyperchain, utilizes ZK Stack technology and is developed in collaboration with Cronos Labs, Matter Labs, the zkSync team, Crypto.com, VVS Finance, Fulcrom Finance, and Veno Finance.
The Tethys Upgrade: Key Developments
The recent upgrade to ‘Tethys’ marks a crucial milestone for the Cronos zkEVM Testnet. Here are the key features and improvements introduced with the Tethys upgrade:
- Shared Liquidity: Enhances the efficiency and flexibility of liquidity across different platforms.
- Yield-Bearing Assets: Introduces assets that generate yields, providing users with more options for returns on their holdings.
- Account Abstraction: Improves the user experience by simplifying account management and interactions on the blockchain.
- Technical Enhancements: Various performance and security improvements that enhance the overall functionality and reliability of the network.
Additionally, the upgrade includes new URLs for the Cronos zkEVM Testnet blockchain explorer, JSON RPC (for wallet connections), and faucet.
Implications for Users and Developers
- For Developers: The Cronos zkEVM Testnet is a valuable platform for testing and developing decentralized applications (dApps) in a scalable and efficient environment. The new features and enhancements provided by the Tethys upgrade will enable developers to build more robust and innovative solutions.
- For End Users: While the testnet is primarily for development purposes, end users can look forward to a user rewards program featuring easy-to-accomplish quests. This program is set to be announced in the first half of June 2024, providing a way for users to engage with the testnet and earn rewards.
Future Plans and Mainnet Launch
The Tethys upgrade is a preparatory step towards the much-anticipated launch of the Cronos zkEVM mainnet, expected in late summer 2024. Key milestones leading up to the mainnet launch include:
- Shared Bridge Connection: The launch timeline will depend on the integration of the shared bridge with the zkSync / ZK Stack ecosystem.
- Deposits from Ethereum: Expected to be enabled by late June to early July 2024.
- Alpha Mainnet Launch: The public release of the Cronos zkEVM alpha mainnet is anticipated in late summer 2024.
Several applications are in the pipeline, promising a rich ecosystem of dApps upon launch.
Community Support and Gratitude
Cronos has expressed its gratitude to the #CROFam community for their ongoing support. The team is excited about the possibilities offered by the new network and looks forward to the contributions and innovations from developers and users alike.
In summary, the Tethys upgrade to the Cronos zkEVM Testnet is a significant development, bringing enhanced features and paving the way for the mainnet launch. This progress underscores Cronos’s commitment to advancing blockchain technology and fostering a robust, scalable ecosystem for developers and users.
