MOI Technology launches Babylon Testnet to address pain points of blockchain industry

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Shanghai to establish blockchain infrastructure by 2025
Shanghai to establish blockchain infrastructure by 2025

Babylon Testnet addresses issues in blockchain such as efficiency, flexibility, scalability, and security

To address the pain points of the blockchain industry, MOI Technology, a P2P protocol network, said it has launched its incentivized public network platform, Babylon Testnet.

By focusing on the participant and delivering humanised interactions in a digital world, the Babylon Testnet addresses issues in blockchain such as efficiency, flexibility, scalability, and security.

MOI said it believes its focus on a “humanised internet” creates an equitable and sustainable digitally interactive society.

Built under the US-based Web3 startup Sarva Labs and having built a network of over 700 validators, MOI claims to have onboarded over 30,000 users as of April 2023.

It raised $4.5 million in a funding round led by Momentum 6, Brailey Group, and others.

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