Hong Kong, 9th of March 2022 – Arcartera Limited has successfully launched a Testnet Prototype of their Arcartera Token. Unlike HKD Tokens, which are pegged to the HK$ as a Digital Hong Kong Dollar, Arcartera Tokens are planned to be a crypto-currency.
Arcartera is testing scenarios for such Altcoin, which for example could be used to pay for the merchant fees, when HKD-Tokens are used in the market.
The next step will be a progression to a live Block-Chain for further testing. Right now, the Token is on the Ropster network, which is based on Ethereum.
Ropsten Ethereum (also known as “Ethereum Testnet”) is an Ethereum test network that allows for blockchain development testing before deployment on Mainnet, the main Ethereum network.
Ropsten is the successor of Morden, the first Ethereum Testnet.
The development of HKD Token as a stable coin, pegged 1:1 to the Hong Kong Dollar, is not affected.
Stablecoins are cryptocurrencies that attempt to peg their market value to some external reference. Stablecoins may be pegged to a currency or to a commodity’s price such as gold.