Latest news with #Testnet
Cision Canada
07-05-2025
- Business
- Cision Canada
Pharos Network Unveils High-Performance Layer 1 Testnet to Unlock RWA Adoption
HONG KONG, May 7, 2025 /CNW/ -- Pharos Network, a high-performance blockchain built for real-world assets (RWAs), announced the launch of its Testnet today. Designed for institutional-grade RWAs and enterprise-scale DeFi, Pharos offers a next-generation, modular infrastructure that addresses the key bottlenecks preventing institutions from entering Web3. The platform powers scalable deployment of decentralized applications, enables efficient payment solutions, and unlocks new use cases for tokenized assets. The Pharos Testnet achieves up to 30,000 transactions per second with one-second finality, setting a new benchmark for Layer 1 blockchain performance. Its GPU-like architecture could support billions of users and reduce storage usage by 80%. The network also features built-in support for decentralized AI and privacy preserving SPN. With ZK-based KYC/AML capabilities, Pharos ensures enterprise-ready security and compliance. It remains fully EVM-compatible, offering faster and cheaper transactions, while enabling flexible, on-chain innovation. Pharos's product stack directly addresses the core bottlenecks in RWA adoption—scalability, compliance, and flexibility—unlocking new use cases across sectors such as renewable energy industry finance, payment, supply chain finance, and tokenized real estate. Its modular, high-throughput infrastructure enables secure deployment of RWA at scale, while meeting the regulatory and performance demands of the financial industry. A growing ecosystem is already emerging on the Pharos Testnet, enabling innovative Defi use cases for RWAs. As an early collaborator of Pharos, OKX Wallet will support Pharos Testnet natively at launch. Early Pharos ecosystem projects include Zenith Swap, ELFi, Buzzing Club, Faroswap, R2, OpenFi, Hemera, Blocksense, Supra, and more. Founded by former AntChain and Alibaba blockchain leaders, the Pharos team brings deep enterprise experience, uniquely positioning it to deliver enterprise-grade solutions for institutions exploring green finance, payments, and new forms of programmable ownership and asset tokenization. "The Pharos Testnet represents a significant milestone in our mission to unlock the true potential of RWAs. By providing a high-performance, scalable, and adaptable platform, Pharos meet the needs of bringing real world assets on a chain and bringing utilities to these assets." said Alex Zhang, CEO of Pharos Network. "We're excited to watch innovation flourish on Pharos and accelerate the convergence of traditional finance and decentralized technology. Developers and users can access and experience the Testnet by visiting About Pharos Pharos Network is a revolutionary Layer 1 blockchain platform that sets new benchmarks in decentralized technology with its extreme performance and scalability. Founded by ex-blockchain leaders from Ant Financial and Alibaba, Pharos aims to build the best chain for RWAs and enterprise-grade DeFi, achieving the highest EVM Layer-1 performance with 50K TPS and being the first to reach 2 gigagas/sec. In addition, Pharos is a co-developer of SmartCogent, an AI toolkit for large language models (LLMs), and the core development team of DTVM technology. For more information, please visit
Associated Press
02-05-2025
- Business
- Associated Press
Aztec Network's Public Testnet Launch Achieves First Major Milestone In Bringing Privacy To Web3
Programmable privacy solution enables developers to build fully private applications on Ethereum for the first time LONDON, May 1, 2025 (Bitwire) -– Aztec Network today announced the launch of its Public Testnet, celebrating a pivotal milestone in the company's eight-year journey to solve one of blockchain's biggest challenges: privacy. Open to all developers, Aztec introduces the first fully programmable privacy solution that protects sensitive information while still maintaining blockchain's inherent transparency. Testnet follows successful testing of the first decentralized upgrade process for an L2, with over 100 sequencers participating in successful deployments of both DevNet and ProverNet. It represents a crucial step forward as Aztec prepares for a mainnet that will launch fully decentralized from day one - because true privacy means no central entity gets backdoor access. 'We currently view blockchain privacy as all-or-nothing, but it doesn't have to be,' said Zac Williamson, Co-Founder of Aztec Network. 'Developers can use Aztec to build dApps with privacy features that seamlessly blend with Ethereum's existing infrastructure, and they won't need to struggle implementing complex cryptography.' 'We first invested in Aztec in 2022 because we shared its vision for making privacy programmable and accessible for any crypto developer,' said Ali Yahya, General Partner at a16z crypto. 'Privacy is essential for blockchains to gain widespread adoption, enabling many new possibilities for crypto applications in financial services, gaming, identity, AI, and much more. Aztec's testnet launch is a significant step towards building that future.' This is the final step for Aztec following the development of several breakthrough technologies that paved the way to, and now set the stage for, mainnet: PLONK, a novel proving system for user-level privacy and programmability that yielded and Aztec Connect, which was a pivotal moment for privacy and encryption solutions; Noir, an intuitive zero-knowledge, Rust-like programming language; and a client-side library for a private execution environment (PXE). These tools allow developers to explore privacy-preserving applications across any use case where protecting sensitive data is a critical function. For more information about Aztec Network and to participate in the Public Testnet, developers can click here . For node operators looking to help run the network, click here . About Aztec Network Aztec is the only privacy-first Layer 2 on Ethereum, empowering developers to build applications that protect user privacy while enabling compliance. Backed by a $100M Series B led by a16z, Aztec is led by a team of world-class researchers and cryptographers who invented trustless client-side proving—the innovation that makes privacy-preserving apps on mobile possible. Using zero-knowledge proofs (ZKPs) and the Noir open-source, Rust-like programming language, Aztec is building a secure and scalable privacy layer for the decentralized future.
