An independent blockchain running its own network with its own technology and protocol.
What Is a Mainnet?
A mainnet is an independent blockchain running its own network with its own technology and protocol.
It is a live blockchain where its own cryptocurrencies or tokens are in use, as compared to a testnet or projects running on top of other popular networks such as Ethereum.
Programmers use testnet to troubleshoot and trial any new features on a blockchain. So, the main difference between testnets and mainnets is that the former is a blockchain project that is in progress, while the latter involves a completely developed blockchain.
A few crucial steps may take place before the mainnet stage. These can include a token sale and giving a product the funding to produce and test features. Once this phase is successfully implemented, the mainnet stage is usually rolled out. This would represent that the blockchain is fully up and running.
Several blockchain startups generally opt to use their own tokens pegged to the Ethereum network during the ICO. These are ERC-20 tokens that are intended to be used solely on Ethereum’s platform. Upon completion of the ICO, the mainnet is released.
The mainnet uses a native token rather than the ERC-20. The next stage in the process is known as mainnet swap. This involves a swap between the ERC-20 tokens in return for the new coins on the blockchain. Once the mainnet swap is completed, the old coins are normally destroyed. This is to ensure that only the new coins will be used.
FAQs
A mainnet is an independent blockchain running its own network with its own technology and protocol. It is a live blockchain where its own cryptocurrencies or tokens are in use, as compared to a testnet or projects running on top of other popular networks such as Ethereum.
What is the meaning of mainnet? ›
Mainnet basics
A mainnet, short for “main network,” is the primary blockchain network where actual transactions occur, and the native cryptocurrency is used. It is not the same as testnets or experimental environments; instead, it is the product of development activities.
What is an example of a mainnet? ›
Beyond just transactions, mainnets support various other operations, from smart contracts to decentralized applications (dApps). The transactions executed here are recorded and stored permanently on the blockchain. For example, Bitcoin and Ethereum each have their own respective mainnets.
What is mainnet in pi? ›
The mainnet signifies the transition from development to actual production, solidifying Pi's position in the crypto ecosystem. With millions of users onboard, Pi Network has cultivated a strong and committed community, underlining the project's inclusive approach to crypto mining.
What is an open mainnet? ›
The Open Mainnet stage will allow Pi users to exchange their Pi coins with other cryptocurrencies and fiat currencies. Furthermore, it opens the door for developers to innovate, creating utilities and applications atop the network's robust framework.
What happens in mainnet? ›
On a mainnet, users perform actions such as sending and receiving cryptocurrencies. These transactions are real, meaning they have actual value and are permanently recorded on the blockchain. This is why transactions on the mainnet must be performed with caution – once a transaction is confirmed, it cannot be reversed.
What is Mainnet checklist? ›
The Mainnet Checklist validates users' high engagement and readiness to migrate their accounts to the blockchain. Qualifying for the Checklist is a privilege that gives users priority access once the Mainnet launches, allowing them to seamlessly migrate their Otara tokens.
Is Bitcoin a mainnet? ›
Mainnet is the term for the real Bitcoin blockchain and network, and is used in contrast with testnet, signet, and regtest networks. Unlike the other networks, which are used for testing purposes, mainnet coins (BTC) have monetary value.
Is pi worth anything? ›
Pi Price Summaries
Pi's price today is US$41.78, with a 24-hour trading volume of $312,298. PI is -0.60% in the last 24 hours. It is currently -3.64% from its 7-day all-time high of $43.36, and 3.61% from its 7-day all-time low of $40.33. PI has a max supply of 100 B PI.
How much is 1 pi in dollars? ›
The project launched its pre-Mainnet in 2019. It is currently in its closed-Mainnet, meaning it cannot interact with other blockchains. Our Pi coin forecast estimates a price of $0.4 by the end of 2024. Our 2030 Pi coin price prediction estimates a price of $1.05.
Is pi coin real or fake? ›
The Pi Network app is safe to use. However, there is no guarantee that the Pi Network coin will be worth anything in the future. The project is still in its early stages, and it is possible that it will never be successful.
Can I sell my PI from Mainnet? ›
In the Future? The current state of things is clear - you can't buy Pi Network coin, and if you're wondering, “can I sell my Pi coins?”, the answer's the same - at this point in time, you cannot. It's also unclear when you'd be able to do so - as in, when the mainnet will open.
Is pi on mainnet yet? ›
At the time of writing, the launch date of the Pi Network mainnet was officially declared to be between March and June of 2024. The Pi network has garnered a lot of interest from developers because of its potential for deploying decentralized applications (dApps).
How to withdraw Pi Network? ›
Pi Network itself does not currently offer any way to withdraw Pi except for a pilot program on their partner platform, Pi Chain Mall (PCM). Here's a breakdown of the current situation: Official Withdrawals (Limited): PCM launched a limited Pi withdrawal feature in February 2024.
What does mainnet mean in crypto? ›
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).
What does migrating to mainnet mean? ›
Essentially, a mainnet swap consists of switching from one blockchain network to another. In most cases, the swap takes place when a cryptocurrency project migrates from a third party platform (e.g., Ethereum) to their own native blockchain network.
What is the mainnet of the Bitcoin? ›
Mainnet is the term for the real Bitcoin blockchain and network, and is used in contrast with testnet, signet, and regtest networks. Unlike the other networks, which are used for testing purposes, mainnet coins (BTC) have monetary value. When people refer to the Bitcoin network, they are usually referring to mainnet.
How to use mainnet wallet? ›
Make sure that MainNet is selected.
The seed is the unique identifier for your wallet, i.e. the username for logging into your wallet. The seed is the unique identifier for your wallet, i.e. the username for logging into your wallet. 3. Choose your own private key and store it securely.
