Rangers Protocol launches Ethereum Virtual Machine-compatible testnet

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The project is branding its testnet as useful to “new developers without blockchain background knowledge."

The Rangers Protocol has opened its testnet to users aiming to provide an Ethereum Virtual Machine-compatible solution that supports cross-chain contract interoperability.

In a Friday announcement, the Rangers Protocol said it had 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’ Ethereum Virtual Machine, or 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.” Individuals interested in building using the protocol will reportedly have an easier time creating nonfungible tokens, or NFTs, as well as gaming applications in a permissionless environment.

Rangers Protocol co-founder Mary Ma announced in June that it would be launching its testnet in July following $3.7 million seed and private equity funding rounds. Ma claimed the protocol would have decentralized apps on its network, and include a cross-chain protocol, NFT protocol, and EVM compatible system. The project is reportedly the work of three years of development.

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. 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.

Rangers Protocol plans testnet launch for mid-July

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"It is time to show the world what we are made of," said Rangers Protocol co-founder Mary Ma.

Describing itself as a provider of “virtual worlds blockchain infrastructure,” the Rangers Protocol will open its testnet to users starting in July.

In a Thursday announcement at the Global DeFi Summit, Rangers Protocol co-founder Mary Ma said the project would be aiming for a mid-July launch of its testnet following $3.7 million seed and private equity funding rounds. According to Ma, the protocol will have decentralized apps, or DApps, on its network, and will include a cross-chain protocol, nonfungible token protocol and Ethereum Virtual Machine compatible system.

"In the past three years, we have solved many problems by tackling down tons of technical problems,” said Ma. “Now it is time to show the world what we are made of.”

The announcement of the planned testnet follows the protocol rebranding to include a nonfungible token, or NFT, platform, based on the team’s assumption that the NFT market will “explode soon.” Rangers Protocol claims to achieve “real-time block generation” at a block per second, allowing entrepreneurs and creators to build NFTs, games, and DApps on top of the platform in a permissionless environment.

With a valuation of $63 million following two rounds of financing, Rangers Protocol has an impressive list of 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. The project said the funds are to be used for its “technology development and the construction of ecological communities and the foundation.”

A China-based crypto company, Rangers was originally branded as the Rocket Protocol.

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