TechFlow reports that blockchain project Abstract has announced the official launch of its testnet. Powered by ZK Stack, the Abstract testnet operates as a Layer 2 (L2) network on Ethereum's Sepolia testnet.
Developers can use this testnet to trial their applications and ensure smooth operations ahead of the mainnet launch later this year.
Earlier report: Igloo, Inc., the company behind Pudgy Penguins, announced it had raised $11 million in a funding round led by Founders Fund, with participation from Fenbushi Capital, 1kx, Everest Ventures Group, and Selini Capital. Igloo plans to use the funds to establish a new entity, Cube Labs, focused on blockchain technology development. Cube Labs will concentrate on developing a blockchain called Abstract, aimed at simplifying cryptocurrency adoption in consumer applications.
