Cronos (CRO) zkEVM Testnet Successfully Upgrades to ‘Tethys’

Cronos
zkEVM
Testnet
Upgrades
to
Tethys

According
to
a

recent
newsletter,
Cronos
(CRO)
zkEVM
Testnet
has
successfully
upgraded
to
its
latest
major
release, ‘Tethys’.
This
represents
a
significant
milestone
ahead
of
the
much-anticipated
launch
of
the
Cronos
zkEVM
mainnet,
slated
for
late
summer
2024.

What
is
Cronos
zkEVM?

Cronos
zkEVM
is
a
Zero-Knowledge
(ZK)
Layer
2
blockchain
network
of
Ethereum,
marking
a
crucial
milestone
for
Cronos
in





scalability
and
mainstream
adoption.
The
network,
a
hyperchain
using
ZK
Stack,
was
launched
in
partnership
with
Cronos
Labs,
Matter
Labs,
the
zkSync
team,
Crypto.com,
VVS
Finance,
Fulcrom
Finance,
and
Veno
Finance.

New
Developments
in
the
Upgrade

The
Tethys
upgrade
introduces
several
key
improvements
and
new
features.
These
include
shared
liquidity,
yield-bearing
assets,
account
abstraction,
and
a
host
of
technical
enhancements.
The
upgrade
also
presents
a
range
of
new
URLs
for
the
Cronos
zkEVM
Testnet
blockchain
explorer,
JSON
RPC
(wallet
connection),
and
faucet.

Implications
for
Users
and
Developers

While
the
Cronos
zkEVM
Testnet
is
primarily
aimed
at
developers,
end
users
are
advised
not
to
expect
to
transfer
real
crypto
assets
or
make
investments
on
the
testnet.
However,
a
user
rewards
program
involving
easy-to-accomplish
quests
on
the
testnet
is
due
to
be
announced
soon,
with
more
information
expected
in
the
first
half
of
June
2024.

Future
Plans
and
Expectations

The
exact
launch
date
of
the
mainnet
will
depend
on
the
connection
of
the
shared
bridge
with
the
zkSync
/
ZK
Stack
ecosystem.
Deposits
from
Ethereum
are
expected
to
be
possible
by
late
June
to
early
July,
with
the
Cronos
zkEVM
alpha
mainnet
expected
to
go
public
in
late
summer,
and
several
applications
are
in
the
pipeline.

Gratitude
for
the
Support

Cronos
expressed
its
gratitude
to
the
#CROFam
community
for
supporting
the
ecosystem
thus
far.
They
also
voiced
their
excitement
regarding
the
possibilities
offered
by
this
new
and
complementary
network.

Image
source:
Shutterstock

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