Nexchain's Test Network Begins Operation with Launch of Faucet and Block Explorer
In an exciting development, the Nexchain team has launched their public testnet, marking a significant step towards the creation of a scalable platform for payments, lending, asset management, and more. This innovative project, which operates the Nexchain AI Layer 1 Blockchain, combines AI and blockchain technology to revolutionise the decentralised finance (DeFi) landscape.
The testnet, now operational, allows users to claim tokens for trial transactions. It also includes a faucet, providing tokens for experimentation purposes. This unique approach to cryptocurrency presales offers verifiable evidence of development, setting Nexchain apart from its competitors.
To make the testnet more user-friendly, the Nexchain testnet explorer will soon be updated with Nexchain branding and a new favicon. A step-by-step connection guide has been announced to help developers deploy contracts and applications on the testnet, making it easier for them to begin testing smart contracts.
The Blockscout explorer on the Nexchain testnet enables participants to monitor validators, blocks, and transaction history in real-time. This transparency is a key aspect of Nexchain's focus on AI, transparency, and community rewards, aiming to build a scalable financial ecosystem for the next generation of decentralised applications.
Nexchain keeps fees ultra-low and transactions lightning-fast, ensuring a smooth user experience. AI on Nexchain automates credit scoring, predicts risks, optimises DeFi yields, and powers real-time fraud detection.
In preparation for the mainnet launch in Q4 2025, governance will be managed through a DAO (Decentralised Autonomous Organisation). The upcoming roadmap update, scheduled for next Friday, will outline new testnet milestones, mainnet launch preparations, and enhancements to AI-powered smart contracts.
It is important to note that Nexchain is not liable for any financial losses incurred while trading cryptocurrencies. Users are advised to conduct their own research and consult financial experts before making investment decisions.
With these developments, Nexchain is poised to make a significant impact in the DeFi sector, offering a scalable foundation for the next generation of decentralised applications.
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