submitted by Bobelr to DxChainNetwork [link] [comments]
Recently, Dxchain team announced the launch of Dxchain project's mainnet alpha. You can find the article containing the release here.
In this article, the team summarized briefly on what mainnet entails as quoted below:
It is well known that mainnet is the fundamental of a blockchain project, cryptocurrency is not a real blockchain technology until the Mainnet launch. Any concepts, ideas or theories are not realizable. DxChain has been committed to building a secure and efficient decentralized big data storage and computing network from the beginning. The construction, development and performance of DxChain network are what DxChain engineers caring about. The release of DxChain Mainnet Alpha represents that DxChain has basically completed the construction of the public chain framework, in which smart contracts, storage contracts, DPoS consensus algorithms, mining and other functions have been developed; also represents DxChain's transformation from cryptocurrency to a real public chain.
The explanation is concise enough for an average crypto user to understand what mainnet is. In this article, I will try to expand a bit farther on the idea of mainnet and why it is necessary for a project like DxchainNetwork to have a mainnet.
In the forum discussion I started here, I gathered knowledge of how mainnet works which gave me the clear insight of what I needed to know. Firstly, let us take a deeper look of what a mainnet is.
What Is A Mainnet?Before now, On July 8, Dxchain launched her testnet and officially announced it here. It evidenced that the Dxchain Team had the prototype of the project up for running. That brings me to contrasting between Mainnet and Testnet. A Mainnet stands for the "Main Network" is the “real” cryptocurrency network where testnet represents a dummy alternatively network for the purposes of testing only. The cryptocurrency coins/token generated on testnet mostly aren't real since they do not have any monetary value as compared to that of mainnet with monetary value.
The functionality of transferring a digital currency between the parties involved is rendered on the mainnet. It is on the mainnet that the decentralized applications are developed and deployed.
According to Binance Academy ,Mainnet is the term used to describe when a blockchain protocol is fully developed and deployed, meaning that cryptocurrency transactions are being broadcasted, verified, and recorded on a distributed ledger technology (blockchain).
In cryptocurrencies, mainnets are the end products in blockchain projects that make it possible for transactions to be carried out. It also undergoes changes from time to time when there is need for updates or review. Before an investors makes his decision to invest in an Initial Coin Offering (ICO), it appears very crucial to be sure the blockchain project has a mainnet. Both mainnet or a testnet indicate the seriousness of a project as they affect the price of a cryptocurrency in one way or another.
Does Mainnet Affect Price of coin?On Dxchain's telegram communuty, I have witnessed several users asking questions like "Admin, Why the pump?, "Admin, price is high. Why! and so on. It is obvious there are so many who seem not having the right information before investing in a coin resulting in them either losing or missing out of good projects. This accounts for why this article is necessary. Continuous upgrades and revision of the mainnet function is a must if a cryptocurrency project is to enjoy wide success in terms of rising price which I believe the Dxchain Team have in their routine plan board. For instance, Bitcoin is one project that has enjoyed immense success in cryptocurrency environment, in part because of Mainnet upgrades.
Recently, the top cryptocurrency by market capitalization launched Lightning Network -a mainnet feature that added a second layer on the blockchain. The Off-chain solution was a significant update intended to make BTC more scalable thus allowing the blockchain to handle more transactions per second.`
ConclusionIn conclusion, a mainnet launch is a planned and or defining time for a blockchain project to open to public and commence mass adaptation. When a blockchain project team is ready to roll out their official end product, they will carry out a “mainnet launch”, putting the product into actual production and operations.
What is Bitcoin? Be able to explain bitcoin to your friends with this bitcoin 101 guide. What is bitcoin used for? What is a bitcoin wallet? And what about bitcoin mining? Why is bitcoin valuable? Bitcoin explained simply so you can become an expert. Bitcoin and blockchain are going to transform the world, learn why! The development of Bitcoin and other cryptocurrencies. While the rise of a financial crisis in 2008 highlighted some of the risks associated with the traditional banking system, 2008 was also the birth year of Bitcoin - the first cryptocurrency to be created. In contrast to fiat currencies, such as the US dollar or British pound, Bitcoin and other cryptocurrencies are decentralized, which ... 1. Bitcoin Trading vs. Investing. The first thing we want to do before we dive deep into the subject is to understand what Bitcoin trading is, and how is it different from investing in Bitcoin.. When people invest in Bitcoin, it usually means that they are buying Bitcoin for the long term. In other words, they believe that the price will ultimately rise, regardless of the ups and down that ... Bitcoin became more popular amongst users who saw how important it could become. In April 2011, one Bitcoin was worth one US Dollar (USD). By December 2017, one Bitcoin was worth more than twenty thousand US Dollars! Today, the price of a single Bitcoin is 7,576.24 US Dollars. Which is still a pretty good return, right? INTERESTING FACT. In 2010, a programmer bought two pizzas for 10,000 BTC ... CZ’s Explanation of Binance Listing SUSHI: With Innovation Comes Risk The lead developer of the project dumped all of his token on the market, crashing SUSHI’s price by over 50%. After that, he transferred the control over the protocol to FTX’s CEO and the price bounced by almost 200%. Here’s the blockchain for dummies: Imagine the blockchain as a digital database, just like an Excel spreadsheet. This database is typically shared across a large network containing many computers (known as “nodes”) and it is completely public. I say “typically” because it can technically be formed by any number of nodes. To get blockchain explained fully, it is important to know that ... Cryptocurrency Investing For Dummies Cheat Sheet; Cheat Sheet. Cryptocurrency Investing For Dummies Cheat Sheet. By Kiana Danial . So, you’ve heard about Bitcoin and other cryptocurrencies, and you’re ready to add these new kids on the block to your investment portfolio — that’s great! You’re now officially a part of the future economy. To make the best decisions for your portfolio ... Hi, welcome to this ultimate guide on how to use Binance.com to trade (buy/sell), deposit, withdraw cryptocurrencies like Bitcoin, Ripple or any other. Everything is step-by-step and as simple as possible. Just go through this ultimate guide and you are ready to do your first trade on Binance. First buy Bitcoin or Ethereum because those are the coins that are most easily transacted against the smaller altcoins. When in doubt, buy Bitcoin. If you want $10 of Bitcoin for free, use this link (while supples last). Then find out where the altcoin that you want is traded. Go to Coinmarketcap and click on the coin you want to buy. What is Bitcoin Summary. Bitcoin is the first decentralized digital currency. All Bitcoin transactions are documented on a virtual ledger called the blockchain, which is accessible for everyone to see.Bitcoin gives you complete control over your money, unlike other assets you own which are regulated by banks and governments.
[index]          
A Beginner's Explanation in Plain ... TECH WOLF 401 views. 13:24. What is Bitcoin? Bitcoin Explained Simply for Dummies - Duration: 12:49. 99Bitcoins 734,266 views. 12:49. Tim Draper predicts the ... I recommend using binance for all your altcoins if they have it. Sign up now on Binance: https://www.binance.com/?ref=13335527 A Beginner's Explanation in Plain English - Duration: 11 ... WHALE BUYS 1K BITCOIN - Binance CoinMarketCap Acquisition - PayPal Crypto - XRP Streaming Payments - Duration: 9:24. Thinking Crypto ... BREAKING! JAPAN & USA COLLABORATION to BEAT China's E-Yuan! Ethereum to 10k minimum + SEC Securities - Duration: 29:09. Digital Asset News 31,107 views What is Bitcoin - A simple non technical explanation about the concept of Bitcoin for beginners. For the complete text guide visit: http://bit.ly/2DvHagt Joi... Hoe werkt de Chinese exchange Binance?? Ik vertel het je in dit filmpje. Het is de eerste keer dat ik deze exchange gebruik dus bare with me! Vragen over Crypto? Join m'n Telegram groep en stel ze ... CryptoRobert's quick and easy tutorial on how easy it is to send Bitcoin or Ethereum to Binance using GDAX. You read that correctly. ANYONE can use GDAX to quickly fund not just your Binance ... You can buy bitcoin on coinbase and transfer it over to binance and then buy some litecoin for example Coinbase is the place to buy bitcoin, litecoin, Ethereum and Bitcoin cash. Just open an ...