Layer 1 public chain Pharos has recently launched its Testnet.

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On March 24, the TradFi-focused Layer 1 public blockchain Pharos launched its public testnet on March 6, calling all developers to build and conduct stress tests on the first EVM-compatible Layer 1 that reaches 2k gas per second. According to its official website, Pharos founder and CEO Alex Zhang previously served as CTO at Ant Chain; Pharos co-founder and CTO Meng Wu was the Chief Security Officer for Ant Financial's Web3 business; Pharos CMO Laura Shen was the head of mobile marketing for Solana Labs. BlockBeats previously reported that on November 9, 2024, Pharos completed a $8 million seed round of financing, led by Lightspeed Faction and Hack VC, with SNZ Capital participating as a strategic investor. Other investors include Dispersion Capital, Hash Global, Generative Ventures, MH Ventures, Zion, and Chorus One.

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