What is 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 refers 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 not launch yet. The testnet is use 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 exist as a prototype version.
Mainnet vs Testnet
Before the mainnet is fully deployed, the team need 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 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 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).
At 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.
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!