INTMAX, the world's first stateless L2Settlement solution on Ethereum, launched on Testnet

## The world’s first on Ethereum

INTMAX, the L2 project of the cryptocurrency (virtual currency) Ethereum (ETH), announced on the 16th that it has launched its payment solution on the public testnet.

Explaining that it is the world’s first to provide a stateless payment solution as Ethereum’s L2. They have implemented several important features in this test, such as achieving transaction fees of less than 0.5 cents regardless of network load.

INTMAX Testnet is LIVE!

The Ethereum Layer 2 with a stateless structure
⚡️ Unlimited scalability
🔒 Strong privacy 💸 Stable fees under half a cent

Imagine a layer supporting the entire world without compromise!

Join now and shape the future of payments!
🔗 Link in comments pic.twitter.com/SHXITZRpW2

— INTMAX priv/acc (@intmaxIO) December 16, 2024

This solution runs on Sepolia, the Ethereum test environment. Right after the launch, you can participate in the test by using Windows OS or macOS devices, and using MetaMask for the wallet.

Related: How to use MetaMask, sending and exchanging cryptocurrencies: swaps, convenient functions explained in diagrams

In addition to the function to reduce transaction fees, in this test, we are trying to achieve transaction processing that protects privacy, unlimited scalability leveraging the stateless feature, and security improvement through a zero-knowledge proof system. These contents are the core elements of INTMAX.

Zero-knowledge proof

A type of proof protocol. It is a mechanism for a prover to prove that their claim is ‘true’ without disclosing any information other than ‘their claim is true’ to the verifier.

▶️Cryptocurrency Glossary

On the 17th, INTMAX project called on test participants to test the ‘Bulk Transfer’ feature. This feature enables large-scale transfers to be made in a single transaction while maintaining the same gas cost.

By introducing important features in this test, Project INTMAX is working on solving long-term challenges that hinder the spread of blockchain technology worldwide. In the announcement, it was explained that by always keeping the cost of transactions low while increasing processing power, they aim to promote technology to both individuals and companies.

Future Outlook

Stateless means having no state. In cryptocurrencies, it means not recording the details of each transaction or the state of the account on the blockchain.

It is valuable to provide a stateless payment solution as an L2 on Ethereum for the first time in the world, considering the importance that Vitalik Buterin, co-founder of Ethereum, places on stateless functionality.

Related: Mr. Vitalik updates the roadmap of Ethereum

In addition, in this announcement, we explained that we are not only developing technology, but also forming partnerships with financial institutions and payment service companies to develop the ecosystem.

Related: Japanese Ethereum L2 ‘INTMAX’ for Japanese entrepreneurs partners with 3AM JAPAN

Through partnerships, INTMAX aims to become a bridge between traditional finance and blockchain technology, and solve payment problems in the real world, especially in emerging markets.

Related: AI for U and INTMAX work to mitigate the data leakage risk of generated AI through zero-knowledge proof

Reina Hino, co-founder of INTMAX, explained the differences from the launch this time compared to ‘INTMAX1’ released two years ago, such as being able to exhibit scalability very close to unlimited, and showed enthusiasm for stabilizing the product as quickly as possible for deployment on the mainnet.

Testnet has been released!

The biggest difference from intmax1, which was released 2 years ago, is that not only the data but also almost all zkp calculations are completely client-side, making it more unstoppable.

We will stabilize the product as quickly as possible towards Mainnet! Please provide feedback!

— Leona priv/acc (@leo_hio) December 17, 2024

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