A company that is changing the way the world mines bitcoin

crypto.news 2025-02-04 18:23:10

ZIG jumps 11% as ZIGChain launches testnet

ZIGChain, the layer-1 blockchain developed by social investment platform Zignaly, has announced that its testnet is now live. The testnet will allow developers to explore, build and test decentralized finance and real-world asset tokenization solutions aimed at democratizing wealth generation and access, the L1 noted. The price of ZIGChain ( ZIG ) token rose following the announcement. Data from crypto.news showed that ZIG’s price was up more than 11% at the time of writing, hovering near $0.11. The token previously reached highs of $0.17 in December 2024, a rally fueled by the platform’s massive buyback and burn program. Recently, ZIGChain revealed its 44th burn event had permanently removed 43,771,804 ZIG tokens from circulation. You might also like: According to Zignaly, ZIGChain, built with the Cosmos SDK, enables developers to leverage features such as Token Factory and a decentralized exchange The former offers support for asset creation while the DEX feature allows for liquidity operations, with these optimized for scalability. The testnet also supports interoperability via compatibility with the Inter-Blockchain Communication protocol. ZIGChain will implement a phased approach for the testnet, introducing new features and capabilities over time. This approach aims to provide developers with expanded functionality and integrations as they experiment with DeFi and RWA solutions. The testnet goes live days after blockchain security platform SCV Secuity announced they had completed an audit of ZIGChain’s pre-testnet blockchain. SCV said the successful audit meant the Cosmos-SDK build L1’s public testnet wasn’t far off. Read more: