Rangers Protocol launched its EVM compatible testnet
Rangers Protocol has opened its testnet aiming to provide an Ethereum Virtual Machine (EVM) compatible solution that supports cross-chain contract interoperability.
According to the announcement, Rangers Protocol has successfully migrated its first Dapp to the testnet which went live on July 19. The project migrated an Ethereum-based lending protocol, BlueStone, to the testnet, a move the protocol described as “smooth and developer-friendly” given Rangers’ EVM compatibility.
Though there are seemingly alternative solutions utilizing blockchain technology friendly to Solidity developers, Rangers Protocol is branding its testnet as useful to new developers without blockchain background knowledge.
Developers interested in building using the protocol will reportedly have an easier time creating NFTs as well as gaming applications in a permissionless environment.
Mary Ma, the co-founder of the protocol, announced in June that it would be launching its testnet in July following $3.7 million seed and private equity funding rounds.
Mary stated that the protocol would have decentralized apps on its network, and include a cross-chain protocol, NFT protocol, and EVM compatible system.
Crypto.com also recently launched its chain testnet allowing projects built on EVM-compatible chains to transfer over to its ecosystem. The open-source testnet, Cronos, runs on a proof-of-authority consensus algorithm and is powered by proof-of-stake chain Ethermint.
Originally branded as the Rocket Protocol, Rangers is a China-based crypto company with an estimated valuation of $63 million with the venture funds backing the project including Pantera Capital, Huobi Ventures Blockchain Fund, Framework Ventures, Alameda Research, AU21 Capital, Hashkey Capital, SevenX Ventures, SNZ, Spark Digital Capital, and others.