Surely the concept of Mainnet is no longer strange to those of you who are playing the digital currency market. But for some newcomers, it is still too strange. Is it not easy to understand the term Mainnet? Therefore, today we decided to share the article What is Mainnet? The importance of Mainnet with Coins for you to refer to below.
What is Mainnet?
What is Mainnet? Mainnet (short for Main Network) is an official network, the official version of Blockchain. After developers successfully test on Testnet, they will proceed to officially apply on Mainnet.
When a virtual currency has released Mainnet, it means that the project will run directly on its own Blockchain, it will not depend on any other virtual currency (including Bitcoin or Ethereum). This is also a pretty big technological breakthrough of this digital currency, when the project has its own wallet, transacts directly on its blockchain, and also allows new coins to work on the blockchain of the company. me.
Besides, there are also some cases, or when developers find new features, or new technologies are more suitable than old ones, they can still make changes on their Mainnet, as long as the project Crypto can work and function at its best.
Normally when you participate in an ICO project, you will have to buy the token of that project, now the tokens can only run on a 3rd party platform. Because, the project does not have its own Blockchain to be able to run on its own. launch your own coin/token. It also means that the value of that coin/token will easily fluctuate and depend a lot on the value of the 3rd party coin/token.
In addition, not to mention a really serious and long-term development project, of course they must have their own blockchain first, instead of just borrowing and running on other people’s systems. Also according to the implicit principle of the crypto world, when a project belongs to the group of foundation coins, owning a separate coin will have extremely strong development potential. Therefore, when the Mainnet is born, it will have 2 main functions as follows:
The mainnet is proof of the future development of the project
When the project has officially launched, the mainnet will implicitly show the seriousness of the development team. At the same time, it also shows that the project is doing the right thing – with the specific plan and vision that I set out in the white paper.
Once the project is no longer theoretical and it is fully operational independently, users can participate in the experience of coin/token transfers, at which point devs can try their hand at development. Deploy smart contracts and design dApps…
Mainnet helps to increase the prestige of the project
When you participate in investing in a Mainnet project, it also means that you are investing in a coin with a separate blockchain. When this blockchain develops strongly, in the future it will certainly make the value of the coin you own grow rapidly.
As can be easily seen, most of the projects that successfully launch Mainnet quickly grow strongly and achieve many impressive milestones.
For example, TRON was originally run on the Ethereum network, but later launched its own mainnet with the TRX token. Currently, the TRON ecosystem is developing quite strongly with a lot of dApps in the fields of entertainment and content sharing.
What is the process to launch the Mainnet of a particular coin project?
Here is the process to launch the Mainnet of a coin project:
Step 1: Issuing IDO, STO, ICO, IEO, …
First, the project development team will release ICO, IEO, IDO to raise funds. This token is usually issued on existing Blockchains.
Step 2: Launch Testnet
The main purpose of this step 2 is to test new features, without causing much damage to the Mainnet system. This is also a very important step, it often determines the success of a project. It can be understood simply that if a project has gone through many “Testnet” times but still encounters errors, not only that project cannot be released, but the project’s coin will also have no value and project. The project will be very difficult to attract investors.
Step 3: Deploy Mainnet
During the mainnet launch, the project team will perform the Mainnet Swap. Specifically, when the project’s token is issued on another original blockchain such as: Ethereum, Tron, Bitcoin … while the system is still in the Testnet process, the project team will convert it to another type. the platform’s own token when the Testnet project is successful.
Step 4: Continue to develop the mainnet official network.
How does the mainnet affect the value of a particular coin?
The fact that the project, which is launched on available blockchain platforms like Ethereum or Binance Smart Chain, officially launches its own mainnet is considered a pretty good signal.
At this time, the Mainnet will help the project easily attract a lot of attention and investment decisions of investors. This will create a solid stepping stone for the growth of the coin over a certain period of time.
Hopefully with the useful information that we have shared above, you have somewhat mastered the knowledge of what the mainnet is and the importance of the mainnet for the coin. From there, let’s draw from the experience to be able to build for yourself the wisest investment strategies. Wishing you guys much success in the future.