Cryptocurrency News

ParallelChain Launches Testnet 2 as It Advances Further Towards Mainnet

By July 8, 2022 No Comments

Key takeaways:

  • ParallelChain has launched Testnet 2, taking another step on the roadmap to their mainnet launch
  • Testnet 2 features a redesigned SDK and an expanded REST API
  • The ParallelChain mainnet launch is expected to happen in Q4 2022

ParallelChain launches Testnet 2 featuring “dramatic” improvements

The ParallelChain blockchain project has launched their second testnet, advancing forward on their roadmap towards the eventual launch of their mainnet. Per the ParallelChain team, the “Testnet 2” provides “dramatic” benefits to the platform’s user experience, performance, maintainability and reliability.

ParallelChain’s Testnet 2 features a redesigned SDK (software development kit) for creating Smart Contract. The new SDK was designed to make smart contract development on ParallelChain highly accessible, with the project drawing inspiration from modern front-end development practices. For example, the SDK features macros that automatically convert smart contract source code to lower-level code, abstracting some of the complexity away from the development proces.

The new testnet also introduces an expanded ParallelChain F REST API to support a bigger range of queries. According to the team, this change will help web application developers make better use of blockchain data sourced from ParallelChain. Another change that coincides with the launch of Testnet 2 is a redesign of the ParallelChain blockchain explorer.

ParallelChain is building a scalable blockchain platform that features a public mainnet that can interoperate with different private blockchain networks. The private networks in the ParallelChain’s ecosystem can rely on the mainnet for consensus and security, while still keeping their privacy intact. ParallelChain is compatible with WASM (WebAssembly) and EVM (Ethereum Virtual Machine), providing an easy transition for blockchain developers.

The project has also launched a mobile cryptocurrency wallet with advanced biometric authentication features. The wallet is designed to support assets on the Bitcoin, Ethereum and BNB Chain blockchains, and of course also ParallelChain’s native asset XPLL. The XPLL token will be used for paying transaction fees on ParallelChain, staking and governance. Another interesting use-case for XPLL is that the token will be redeemable for licenses to software developed by ParallelChain.

ParallelChain will release two more testnets before the launch of their mainnet, which is expected to happen in the fourth quarter of this year. We can expect to see the third and fourth ParallelChain testnet launches to be completed within the third quarter.