Enjin chief technology officer Witek Radomski said the new blockchain aims to promote creativity by facilitating the easy and affordable creation and distribution of NFTs.
Mainnet is the final or public version of a blockchain with its own protocols and crypto tokens. The company develops its own blockchain to run in accordance with its vision and to house the network’s native token. Before these activities are carried out on the mainnet, the plans are first tested on the testnet. The testnet is a trial version of the final platform or mainnet, which is not publicly available and is for testing purposes only. A mainnet, however, can be altered anytime projects or open-source organizations decide that the product needs upgrades and changes, just like a testnet.
Transactions that users send and receive are recorded on a distributed ledger and are executed with their new cryptocurrency on the mainnet. When the mainnet goes live, a mainnet swap is executed. The testnet tokens are swapped for the new cryptocurrency, which are ready to be traded after the token migration takes place. In addition to the token relocation from the testnet to the mainnet, it is also possible that the tokens come from other blockchains and arrive at the native mainnet via this route. When the tokens come from another blockchain, they are migrated by the developer team.
Mainnet development is often a major milestone for projects, as they not only launch a working product but also become responsible for their own ecosystem and aim to build up the network effect. A crypto project with its own mainnet can influence the speed and rules of the blockchain. Platforms that do not have their own mainnet but use the mainnet of, for example, Ethereum or another blockchain, can have a lot less influence.
A proposal to unify branding between the Mantle network and BitDAO passed with overwhelming support.2899
The total supply of the SUI token is capped at 10 billion coins, with tokens running on a delegated proof-of-stake consensus algorithm.5057
With the toolkit, developers and security researchers can test, analyze and debug transactions via controlled private fork chains from the Ethereum mainnet.6049
The Mars Hub will launch an independent Cosmos application chain and issue MARS to users who hold the token during the two snapshots on Terra Classic.9492
Aptos’ blockchain claims to handle three times the amount of transactions per second than Solana but day one of its launch saw the network transacting a much lower amount.6670
Matter Labs chief product officer Steve Newcomb emphasized to Cointelegraph that the launch of its L3 prototype will significantly improve the performance of its L2 solution.5238
As a proof-of-stake layer-1 protocol, ParallelChain intends to deliver an architecture that operates in confidentiality while allowing to validate transactions.2762
The successful completion of the last shadow fork signaled the readiness of the Ethereum network for migrating to a proof-of-stake consensus mechanism.16166
The 1inch Network has integrated its aggregation and limit order protocols to the burgeoning Klaytn blockchain mainnet.2470
The ETH price stalls following a week of gains, leading analysts to call for a pullback in the short term followed by a rally into September when the mainnet Merge is predicted to occur.7736
The variants based on BEP-2 and ERC-20 are being swapped out for the upgraded native RUNE token after THORChain’s long-awaited mainnet late last month.3192
It was the first time the Celo mainnet had gone down in more than two years.2625
Like blockchain is to finance, so are NFTs to artists. At least in theory.1342