What does the mainnet go live mean? (The significance of the mainnet go live)

08/13/2023 16:01 • Metaverse Matters • 108 views

What does the mainnet go live mean? What does it mean to go live on the mainnet? It mainly comes in two forms, one of which is through a public chain. For example, the issuance of Bitcoin is done through the Ethereum or Bitcoin mainnet. In September 2017, Ethereum was approved by the US Securities and Exchange Commission to become a publicly traded company. Then Ethereum started its business model – ICO, which is the token sale method. In this case, it is the official launch of the project and fundraising. Therefore, we can consider this process as a very complex one, and there may be some issues, but if a project does not succeed, it cannot continue to operate. At this point, everyone can invest all their money into it for development, which is what we call blockchain.

Significance of the mainnet go live

From the fluctuations in the price of Bitcoin ranging from $20,000 to $50,000, we can clearly see the importance of the mainnet go live in the market.

Currently, there are many investors in the market who believe that Bitcoin is a means of storing value, but in fact, this is just a concept and does not have a practical understanding of the application scenarios of cryptocurrency. There are even some issues that need attention. So why say this? Because Ethereum has been well-known, although it does not have any substantial meaning, it does represent a possibility – when the entire blockchain ecosystem begins to form – its participants and influence will truly play a role, so we should pay attention to it at this time. And now we can see that after the launch of phase 0 (beacon chain) of Ethereum 2.0, developers have started to study solutions to these problems, including consensus mechanisms and sharding.

Therefore, it can be said that with the development of technology and the gradual recognition of mainstream currencies, the team behind it will have certain capabilities to support its development momentum. At the same time, as the market continues to mature and develop, this process will become increasingly complex and generate a series of problems and challenges. For example, if a project wants to become the next generation of the Internet, it must first gain enough attention to continue its development; on the other hand, once a project’s success is realized, it will cause a sharp decline in the price of its tokens, which will have a huge impact on the project’s long-term lifecycle.

In this process, as a leader in the industry, what I am looking forward to is the official launch of the mainnet. Because the emergence of the main network allows people to realize the importance and indispensability of Bitcoin. Under such circumstances, I believe that anyone has the opportunity to understand the basic situation of Bitcoin and its related knowledge system. And in the upcoming mainnet go-live, I will continue to track and contemplate. If everything goes well, when will the mainnet be launched? In my opinion, the most important thing to focus on is what we should pay attention to.

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What does the mainnet go live mean? (The significance of the mainnet go live)

Significance of the mainnet go live

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