Rangers Protocol has opened its testnet to users with the aim of providing an Ethereum virtual machine-compatible solution that supports cross-chain contract interoperability.
In Friday’s announcement, Rangers Protocol said that it had successfully migrated its first dapp to the testnet which went live on July 19. The project moved the Ethereum-based lending protocol, Bluestone, to the testnet, a protocol dubbed “Smooth”. and developer-friendly” given Rangers’ Ethereum Virtual Machine, or EVM, compatibility.
While Solidity appears to be an alternative solution using developer-friendly blockchain technology, Rangers Protocol is making its testnet useful for “new developers without blockchain background knowledge.” Individuals interested in building using the protocol reportedly will have an easier time building non-fungible tokens, or NFTs, as well as gaming applications in a permissionless environment.
Rangers Protocol co-founder Mary Ma announced in June that she would launch her testnet in July following a $3.7 million seed and private equity funding round. Ma claimed that the protocol would have decentralized apps on its network, and would include cross-chain protocols, NFT protocols, and EVM compatible systems. The project is reportedly three years of development work.
Crypto.com also recently launched its on-chain testnet which allows projects built on EVM-compatible on-chain to be migrated to its ecosystem. The open source testnet, Chronos, runs on the proof-of-authority consensus algorithm and the proof-of-stake chain is powered by Ethermint.
Connected: Asia-based Rangers Protocol valued at $63M after private equity round
Originally branded as Rocket Protocol, Rangers is a China-based crypto company with an estimated valuation of $63 million. Venture funds backing the project include Pantera Capital, Huobi Ventures Blockchain Fund, Framework Ventures, Alameda Research, AU21 Capital, Hashkey Capital, SevenX Ventures, SNZ, Spark Digital Capital and others.