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What is Mainnet Definition in Cryptocurrency



What is Mainnet definition in Cryptocurrency Mainnet Swap Blockchain Testnet ERC-20

What is the mainnet definition in cryptocurrency and blockchain? Here is everything the investors need to know about the mainnet, mainnet swap, and testnet.

What is Mainnet?

Mainnet is a live version of a blockchain that’s fully developed and deployed. A mainnet is a blockchain network that’s running on its own blockchain protocol where its works as it should be. Typically, the mainnet is used to refer to a native token that’s run on its own blockchain network, rather than the ERC-20.

In contrast with “testnet”, which is a blockchain protocol or network that’s under development stage and has not launched yet. The testnet is used for test and troubleshoot during the development process, normally a test net running on popular blockchain networks such as Ethereum (ERC-20).

The main difference between mainnet and testnet is that the mainnet is a complete version of a developed blockchain network, while a testnet exists as a prototype version.

Mainnet is the actual blockchain network that is used for production purposes, where transactions are publicly recorded, and tokens have real value. Mainnet is the live, public blockchain that is used for the exchange of cryptocurrencies and other digital assets.

On the other hand, testnet is a blockchain network that is used for testing purposes only. It is a simulated network that is used by developers to test the functionality and security of their applications before deploying them on the mainnet. Transactions on the testnet do not have any real value, and its tokens are often provided for free. The purpose of the testnet is to allow developers to experiment and test their code in a safe and isolated environment before releasing it on the mainnet.

Mainnet vs Testnet

Before the mainnet is fully deployed, the team needs to raise funds by doing an Initial Coin Offering (ICO), an Initial Exchange Offering (IEO), an Initial DEX Offering (IDO), an Initial Farm Offering (IFO), or anything else. During a fundraising process, the cryptocurrencies are still in the prototype stage until they have enough funds to develop it (However, sometimes it’s on the testnet stage).

In the testnet stage, the developer does their development, testing, and bug fixing on their blockchain. These typically happened on other blockchain platforms such as Ethereum (ERC-20), Binance Chain (BEP-2), Stellar, TRON (TRC-20), NEM, or whatever.

What is Mainnet Swap?

Once the development on the testnet stage is complete, the team will launch the mainnet version of the blockchain, which is an official launch on their own blockchain network instead of using other blockchain platforms such as Ethereum (ERC-20) or Binance Chain (BEP-2).

In this process, the mainnet swap plays its role. Since the testnet token run on ERC-20 (or any blockchain platforms) it’s gonna swapped (migrated) to the native blockchain network.

Following the process above, once the mainnet swap is completed, the remaining tokens on the testnet chain will be destroyed.

Be Wary

The testnet coins do not have any monetary value and cannot be used in real-life transactions at all. In contrast, you cannot use actual coins (or mainnet-coins) on the testnet. These are the reasons why when you’re using a new blockchain you must make sure it’s a mainnet, not a testnet.

Put it simply, the testnet is like a development environment, while the mainnet is a live version. That’s why!

References: Binance Academy, Coinmarketcap

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