Cronos Upgrades zkEVM Testnet to Tethys before Mainnet Launch

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As an experienced analyst in the blockchain industry, I’m thrilled to see Cronos making significant strides towards the mainnet launch of their zkEVM with the Tethys upgrade. This development is a testament to the team’s commitment to building a highly scalable network for mainstream adoption.

As a blockchain analysis expert, I’m excited to share that Cronos, one of the prominent players in the blockchain ecosystem, has made an important announcement. They have upgraded their zkEVM testnet to its latest version, which they’ve named Tethys. This is a significant step forward for Cronos as it brings them closer to launching their mainnet.

The Tethys update is based on zkSync’s v24 version, which facilitated the shift of zkSync Era from an independent blockchain to one of multiple ZK Chains within the zkSync ecosystem. This innovation will contribute to Cronos zkEVM’s objective of creating a highly scalable platform suitable for widespread adoption. In relation to this advancement, Ken Timsit, Head of Cronos Labs, expressed:

Tethys takes us a step closer to unveiling the complete zkEVM offering from Cronos, highlighting the unique advantages of zero-knowledge networks. Key features like lower transaction costs, enhanced developer resources, and streamlined upgradability underscore Cronos’ continued leadership in blockchain technology innovation.

In collaboration with Crypto.com, Matter Labs, Fulcrom Finance, VVS Finance, and Veno Finance, Cronos Labs is set to implement the Tethys upgrade utilizing ZK Stack. This upgrade introduces several new features including an improved connection between the Cronos zkEVM Testnet and Ethereum‘s Sepolia Testnet.

One possibility: this bridge would serve as a crucial link for connecting all Zero-Knowledge (ZK) chains. Additionally, it would offer the advantage of reduced transaction costs by storing data from these transactions in the Validium configuration.

Boosting the Tethys Adoption

As a researcher studying the adoption of the Tethys testnet by Cronos, I propose announcing a series of quests open to the community as a way to expedite the process. By engaging users with simple tasks on the Tethys testnet, we can gather valuable feedback and offer an extra chance for them to join our upcoming zkEVM user reward program.

In the upcoming enhancements, Tethy’s will roll out a gas price optimizer. Additionally, they will enable users to transfer crypto assets seamlessly from Cronos zkEVM to Ethereum without needing any CRO tokens in their Ethereum wallet. Daniel Lumi, Matter Labs’ Senior Product Manager of ZK Stack, announced:

“Cronos boasts an impressive history in establishing a varied ecosystem accompanied by substantial on-chain financial worth and user growth. Their impending prominence in ZK Chains is anticipated, making the completion of Cronos zkEVM’s final milestone before mainnet all the more thrilling. The Tethys testnet offers users a glimpse into the swiftness, capacity, and affordability that will enable Cronos zkEVM to accommodate a wide array of applications and use cases.”

Cronos is amongst the leading 15 blockchain systems worldwide, boasting more than $6 billion worth of user assets. Ever since its launch, the Cronos blockchain network has processed over 100 million transactions.

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2024-05-23 18:03