New Cosmos-based Testnet Lays Foundation for De-Fi Roadmap

Crypto.com Chain released the first version of its new testnet named Croeseid, featuring a new codebase based on the Cosmos SDK today, 19 October 2020. The name “Croeseid” is derived from the world’s first gold and silver bimetallic coin that had a standardized purity, an invention which unleashed the rapid diffusion of coinage throughout the ancient world. This resonates with Crypto.com’s mission: to accelerate the world's transition to cryptocurrency, powered by Crypto.com Chain. The change in architecture also lays a strong foundation for future support of our decentralized finance (DeFi) roadmap.

Crypto.com Chain has updated to the new testnet to bring about more benefits, powered by the Cosmos SDK:

  1. For developers: make deployment easier and enable more choices, such as:
    a) Multi-platform support (e.g., Windows, Mac, Linux)
    b) Single binary for Crypto.com Chain node
    c) More options for cloud providers (e.g., Intel SGX support now optional)
  2. For partners: enable more convenient integration;
  3. For users: the ability to support more features (such as delegation of staking and governance):
  4. For the DeFi ecosystem: better support for DeFi use cases, e.g., the IBC (Inter-Blockchain Communication) protocol module could support cross-chain asset transfers and communications.

The Croeseid testnet continues to adopt Tendermint Core as its consensus engine. Tendermint is one of the most mature Byzantine-fault tolerant (BFT) consensus engines for building proof-of-stake systems. For more details on why Tendermint was chosen, please refer to Crypto.com Chain Dev Update #1.

The Croeseid testnet codebase is released on Github here written in the Go programming language. Until mainnet launch, the Croeseid testnet will be the new and only official version of Crypto.com Chain going forward. The Crypto.com Chain team always welcome the community to review and provide suggestions to the design.

An earlier testnet released by Crypto.com, Thaler testnet, will continue to be updated by the Crypto.com team, but will take the role of an experimental codebase to test certain features. Codebase and resources related to Thaler can be viewed on Github under the folder “crypto-com/thaler” here.

Since the initial launch of the testnet in 2019 Q3, Crypto.com Chain has received massive support from the community and industry partners. Today, 50 validators have joined Chain and processed 350K+ transactions in total. We plan to keep this strong momentum as we launch the Croeseid testnet and invite more partners to join our ecosystem to host validators on our chain. To indicate your interest, please complete this form.