The post Cronos zkEVM Testnet Upgrades to Tethys Ahead of Mainnet Launch appeared on BitcoinEthereumNews.com.

[PRESS RELEASE – Hong Kong, Hong Kong, May 21st, 2024] Cronos has announced an upgrade to its zkEVM testnet to the latest major release known as Tethys. Its introduction brings the zero-knowledge (ZK) layer-2 blockchain secured by Ethereum a major step closer to its mainnet launch, planned for this summer The Tethys upgrade is based on zkSync’s v24 release, which paved the way for zkSync Era to evolve from a standalone blockchain to one of many ZK Chains within the zkSync ecosystem. The same technology is now being utilized to accelerate Cronos zkEVM’s goal of developing a highly scalable network that will support mainstream adoption. Built using ZK Stack, Tethys has been launched in a partnership between Cronos Labs, and engineering teams from Matter Labs, Crypto.com, VVS Finance, Fulcrom Finance, and Veno Finance. Tethys adds a number of new features including an enhanced bridge between Ethereum’s Sepolia Testnet and Cronos zkEVM Testnet that connects all ZK Chains. It also enables cheaper transaction fees by storing transaction data in validium configuration. Ken Timsit, Head of Cronos Labs, said: “Tethys brings us closer to the full release of the Cronos zkEVM and showcases the qualities that make zero-knowledge networks so versatile. Features such as reduced transaction fees, better developer tooling, and easier upgradability demonstrate that the Cronos ecosystem remains at the forefront of blockchain innovation.” Daniel Lumi, Senior Product Manager of ZK Stack at Matter Labs said: “Cronos has an impressive track record of building a diverse ecosystem along with impressive on-chain financial value and user acquisition. They will inevitably become one of the great use cases for ZK Chains, so we’re excited to see Cronos zkEVM complete this final milestone before mainnet. With Tethys testnet, users can experience the speed, throughput, and low fee environment that will make the Cronos zkEVM…

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Filed under: News - @ May 21, 2024 4:26 pm