E Money Network (powered by Scallop), a pioneering Modular RWA blockchain, has announced the launch of its highly anticipated Testnet, a critical milestone in the journey toward revolutionising Real World Asset (RWA) tokenisation.
The Testnet marks the commencement of its initiative aimed at establishing a robust blockchain infrastructure capable of facilitating liquidity for billions of dollars’ worth of Real World Assets, effectively bridging the gap between Web2 and Web3 worlds.
The goal of E Money Network’s Testnet
The E Money Network Testnet offers a real-time environment showcasing the platform’s functionalities upon the launch of the Mainnet. The primary vision of the E Money Network is to meet the growing demand for RWAs and facilitate building sustainable projects that will enable creation of RWAs, build RWAs-enabled businesses, and more. E Money Network is here to make this vision a reality and create a foundational network for RWAs, and E Money Network testnet is one of the first steps in this journey.
Unlike other RWA blockchains, E Money Network is distinguished by unique features such as identity checks for users and businesses, compliance checks(KYC, AML), ownership proof checks (using zk-proofs), et. making the core infrastructure completely regulatory compliant while supporting innovative new-age RWA applications.
Engineered by the expert team at E Money Network, the Testnet provides developers with a platform to build applications and gives users an opportunity to experience the network’s core features firsthand.
Key metrics and opportunities
With key metrics in place to evaluate efficiency and scalability, the Testnet has demonstrated a remarkable 1000 Transactions Per Second (TPS) during internal testing. Developers and users are encouraged to leverage the Testnet to test its capabilities and provide valuable feedback.
What users and developers can do on E Money Network testnet
Users can experience the E Money Network testnet by downloading E Money Wallet, E Money Network’s native wallet, from the Chrome browser extension. With E Money Wallet, users can perform several tasks – claiming faucet tokens, send and receive native E Money Network faucet tokens (EMYC), e-money faucet tokens (Euro tokens), and more. E Money Wallet combines native web3 wallet features (send, receive tokens from 0x, etc.) with IBAN on chain features (send, receive e-money tokens) that can only be experienced on E Money Network testnet.
For the developers, we have recently launched a grant program (developers can apply here by filling out form), where developers can receive the grants and build/deploy their applications on our testnet; developers can also leverage our community strength to test their product and gather critical product feedback. E Money Network will also launch a quest program soon, where users and developers can participate in various quests.
Join the E Money Network Testnet today!
E Money Network extends an invitation to users and developers alike to join in shaping the future of RWA tokenisation. The Testnet represents a significant step toward the Mainnet launch later this year, where groundbreaking innovations await.
FAQs: E-Money Network Testnet
- Can I use other wallets (like Metamask) apart from E Money Wallet for testnet? No. We recommended using only E Money Wallet for the testnet, as other wallets are not compatible with all the E Money Network testnet features.
- Is Email required for the testnet? Email verification process is only applicable during the wallet creation process, and a person only has to verify the email first – for email verification, and another one for Sumsub KYC.
- Is referring to other users possible? A referral program will be announced soon.
- Can users access the testnet from mobile devices? No, it’s accessible only from desktop or laptop devices.
- Where can I refer for developer docs? Visit docs.emoney.network.
About E Money Network
E Money Network is the regulated Modular RWA blockchain. It serves as an L1 blockchain designed for seamless interoperability between DeFi 2.0 and RWA tokenisation, effectively establishing a network that aims to bridge the liquidity divide between Web 2.0 and Web 3.0. E Money Network is powered by Scallop, where Scallop is now streamlining its focus and mission towards leveraging blockchain technology and launched E Money Network, as its primary product.
