OpenEx is gearing up to unveil its Long test network, which will serve as an indicator of the platform’s progress in the realm of digital asset trading. The Chinese dragon serves as inspiration for the name Long. This serves as OpenEx’s homage to the Chinese Long Year.
The conventional token design is the defining characteristic of the Long test network. In this regard, the Long test network employs USTD in its traditional token form, while designating the OEX token as ERC20. This innovative design enhances the efficiency of asset liquidity management. It increases the viability of OpenEx’s blockchain framework for trading solutions and the formation of liquidity trading platforms between USDT and assets.
An additional significant element is the reduction in gas charges associated with the Long test network. By reducing transaction fees, the Long test network provides the ideal environment for scenarios involving payment and trading applications. This will facilitate the incorporation of additional innovative trading protocols, payment protocols, entertainment game protocols, and network positioning and testing AI application protocols.
The Long test network enhances the current ecosystem’s adaptability by serving as an adaptable chain for Ethereum Virtual Machines (EVMs). This allows developers to migrate their existing decentralized applications to Long for the purpose of testing. Providing an RPC service address facilitates the process by enabling developers to establish connections using primary Web3 wallets, like Metamask.
The OpenEx team provides a variety of solutions and tools to support developers and consumers. A user interface and faucet interface, an all-inclusive blockchain explorer for placing and authenticating smart contract codes, and a simple exchange contract are also included. This allows users to request the conventional token of the test network for testing purposes. The aforementioned tools unveil the Long test network’s technical capabilities and OpenEx’s commitment to fostering a more robust community.
With an eye toward the future, OpenEx plans to augment the Long test network with additional functionalities, including interfaces, staking reward contracts, and asset cross-chain bridges. This will further contribute to the ecosystem’s fortification. The organization contacts Web3 application and protocol developers concurrently to solicit their assistance in testing on the Long test network and solicit feedback for further improvements.
Technical testing and authentication are the principal objectives of the test network. Multiple ERC20 tokens and the standard token are also present on the network.
OpenEx is committed to providing a dependable and secure testing environment to advance the development and implementation of blockchain technology.
Source: https://www.cryptonewsz.com/openexs-long-testnet-launches-digital-asset-trading-revolution/