E Money Network Testnet Goes Live!

We're thrilled to announce the launch of our testnet, a pivotal step towards transforming the tokenization of Real World Assets (RWA) on E Money Network.

The path towards building the foundational infrastructure for RWAs is not a single-ladder journey but a series of key phases that will solidify the infrastructure for Web 3.0. And, we are proud to introduce the first phase of this journey with the launch of the E Money Network Testnet. Download here: https://chromewebstore.google.com/detail/e-money-network/ndklagefmdogpfkffimjdnbnplllndic?hl=en&authuser=0

The Goal of E Money Network Testnet

With the launch of the E Money Network testnet, we aim to provide a real-time simulated environment of how E Money Network will function on the launch of E Money Network Mainnet. Unlike other public blockchains, E Money Network infrastructure is unique owing to its distinct, requisite features - compliance checks at every block, minting of e-money tokens, and more. These features, combined with the features of public blockchains, will propel innovation in decentralised applications and solutions.

Hence, with the E Money Network Testnet, our engineering team has built the foundational infrastructure of this network to test how the core features of E Money Network will work in real life. The E Money Network Testnet focuses on introducing the E Money Network blockchain to developers and encouraging them to build applications in the testnet environment. We also welcome users to try the various functionalities of the testnet that will be live during the testnet period.

We have established key metrics to gauge the efficiency and scalability of the E Money Network Testnet. We have achieved up to 1000 Transactions Per Second(TPS) based on our internal testing on Testnet, and we would like developers and users to test it out in the testnet period. On the mainnet, E Money Network will be capable of managing a throughput of up to 10000 Transactions Per Second(TPS). Throughout the testnet phase, we will continuously evaluate and stress test the network with various planned developer and user activities.

E Money Network evoked great initial interest in our active community during the pre-testnet phase and we are looking forward to gathering valuable feedback and suggestions that will help us fine-tune the blockchain further.

Get Involved: Exciting Opportunities on E Money Network's Testnet!

For Users

Users can experience E Money Network testnet by downloading E Money Wallet, E Money Network’s native wallet, from Google Chrome extension. E Money Wallet combines native web3 wallet features (send, receive crypto tokens from 0x, etc.) with IBAN on chain features (send, receive e-money tokens) that can only be experienced on E Money Network testnet. Users can perform several live tasks as listed below.

• Download E Money wallet Steps:

1. Install the E Money Wallet browser extension to use the testnet by clicking here.

2. Next, choose a unique username. Then add your email address and unique password. Verify your email address with OTP.

3. Next step is the completion of Sumsub KYC. This step also must be done on a laptop or desktop. To get KYC verified, click on Continue and select the next option accordingly. Then, select your respective geographic location. Users from all locations, except for the US, can use the testnet.

4. Now, enter your email address and verify it. (Use the same email address that you have used earlier during the sign up process). Verify your email address with OTP and fill in your next set of details and click on continue. Once done, your profile will be verified.

5. Moving forward, save your secret recovery phrase on a piece of paper (Store this piece of paper at a safe place and don’t lose it). Complete the Mnemonic verification and once done, click on Finish.

6. Now, go to the Extension tab on your browser, select E Money Wallet, and enter your password to unlock the wallet. To use E Money Wallet smoothly, kindly disable Metamask wallet from your browser extension.

• Claim EMYC faucet Tokens Steps:

1. Click here to claim faucet tokens.
2. Now, open E Money Wallet from your browser extension and copy your EVM address by clicking the “copy clipboard” button on top of the wallet.

3. Next, paste the address under the "Enter your wallet address" box and press the “Submit” button to claim the EMYC faucet tokens. After successful completion, you will receive 100 EMYC faucet tokens in your E Money wallet.

• Send EMYC to your friend’s E Money Wallet Steps:

1. Open your E Money Wallet, and click on withdraw to send EMYC

2. Make sure you have your friend’s E Money Wallet’s EVM address with you. Paste your friend’s address under the ‘To’ section and fill any amount equal to or below the amount in your wallet. Ensure that you keep a small amount of EMYC for transaction fees.

3. Click on Send.

4. Next, verify and confirm the transaction. Once done, your friend will receive the EMYC in their E Money Wallet.

• Send E-money tokens to your friend’s E Money Wallet Steps:

1. Open your E Money Wallet, and select the E Money tab at the bottom of the wallet. You will have received default 5000 eEUR tokens, which are e-money tokens. Now, click on withdraw to send these eEUR tokens.

2. Ask your friend for their E Money Wallet’s EVM address. Paste your friend’s address under the ‘To’ section and fill any amount equal to or below the amount in your wallet. Ensure that you keep a small amount of EMYC for transaction fees.

3. Click on Send. Next, verify and confirm the transaction. Once done, your friend will receive the eEUR tokens.

• Whitelist address to transfer tokens (EMYC, etc.) from your Web3 wallet like Metamask. Steps:

1. If you want to send EMYC from your web3 wallet like Metamask, you will need to whitelist your Metamask wallet address first. Click here to whitelist Metamask's EVM address. Enter your credentials and log in.
2. Once logged in, connect your Metamask Wallet. Please ensure you disable your E Money Wallet while whitelisting Metamask wallet.

3. Once done, Metamask wallet will ask for your approval to add E Money Network Testnet. Click on Approve to add the network. Next, your Metamask wallet address will automatically appear in the Wallet Address tab.

4. Click on Submit to whitelist address. Once done, your address will come under the “Your Whitelisted Address” tab. Now, you can send and receive EMYC between your E Money Wallet and your MetaMask Wallet.

For Developers

We have recently introduced our Grant Program in which we are giving grants to developers to build and launch their applications on the E Money Network Testnet. The grant amount will help to accelerate the development of innovative RWA-centric applications, and developers can also validate their application success by deploying it on E Money Network Testnet. After deploying the app, developers can leverage our community strength to test their product and gather critical product feedback.

If you are a developer interested in building on E Money Network, you can reach out to us by filling out this form and joining our grant channel on our Discord.

We can't wait to see you use the groundbreaking innovations that will shape the future of our network! Join the E Money Network testnet today and be a part of the RWA revolution!

"Transforming possibilities into realities, one block at a time."

For more information,

Refer to our Testnet FAQs: https://blog.emoney.io/faqs/testnet

To share your feedback on testnet, fill out this form: https://form.typeform.com/to/PdI7JZji

To raise any issue related to testnet, kindly open a ticket on our discord here: https://discord.gg/emoneynetwork