The Testnet 8 is BlockX Ecosystem’s Testnet Ethereum Virtual Machine (EVM). EVMs allow smart contracts to run, tokens to be transferred, and data to be stored. Some of the famous examples with EVMs used are Ethereum, Binance Smart Chain, and Matic.
Using EVMs, blockchain projects can deploy new dApps like decentralized exchanges, lending protocols, bridges and many more.
The Testnet 8 network has a very fast block time of 1 second, low gas fees, and network security that comes with the use of Tendermint’s protocol. Testnet 8 will act as a hub between multiple chains that we will be launching in the BlockX Ecosystem.
Other supporting systems can be bridges, IBCs, oracle systems, as well as other chains that have more specific use cases like data management and transaction storage. All of these will be connected via the Testnet 8 to allow users to experience a wide range of services across the BlockX Ecosystem.
Inflation distribution of BCX:
- 80% of tokens go to Validators
- 10% of tokens go to Smart Contract Developers
- 10% of tokens go to Community Pool