Mainnet & Testnet are 2 integral pieces of cryptocurrencies representing blockchain networks possessing important functions. Therefore, it is also one of the main factors affecting the value of digital currency. Today, let’s explore Mainnet & Testnet.
1. What is Mainnet?
Mainnet you can simply understand is the Main Network, where all transactions are actually taking place. Mainnet wallets have money value and every transaction is official.
Transactions sending, receiving money, trading on exchanges are all done on the mainnet.
2. What is Testnet?
In cryptocurrency, testnet can be understood as an alternative blockchain, an exact copy of the original blockchain (mainnet). The testnet is mainly used for the purpose of testing new features without worrying about possibly harming the mainnet.
Changes made to the mainnet will no longer be revertable. This is why testnets are actively used by developers to introduce new features, test different protocols, and any major changes in functionality before finally bringing them to the mainnet.
3. What is the role of testnet and mainnet in the virtual currency market?
Anyone who learns about the virtual currency market will probably have heard the term ICO. You will get questions like “have you tested the testnet?”, “when will it be on mainnet?”, etc.
Those questions demonstrate the importance of testnet and mainnet in the coin world. ICO will be the place that determines the success of the project if the developers know how to exploit and apply. After reviewing the development roadmap (roadmap) in the whitepaper, the developers need to ensure the testnet phase is successful.
If the testnet is successful, investors can officially put it on the mainnet. From there, the price of the coin will be increased. Therefore, the testnet phase is extremely important because if it cannot pass in the test version, the coin will be significantly reduced in price.
To be successful in the end, the foundation stages must be really solid and the same goes for coin issuance. Therefore, any investor who wants to participate in ICO projects, needs to find out about the launch time of the two testnet and mainnet networks. If the project does not have a trial version, you should consider investing because of the potential risks.
03 Basic Steps When Making Testnet
Step 1: Prepare wallet and receive faucet testnet
In this step, you must have a wallet to connect to the testnet and receive the project’s experience coin/token through the testnet faucet.
Depending on the main networks, each project will require different wallets, for example BEP20 wallet on BSC network, SPL wallet on SPL network
Step 2: Experience the features
Each project will have different features for you to experience. Therefore, the testnet of the projects will also have different ways of doing it depending on the industry of that project:
If it is an AMM, users can Swap, distribute liquidity on Testnet.
If it is a Lending, users can deposit money into a test loan, or become a lender on Testnet.
Step 3: Give feedback
This is a common task of the entire project for users when testing net, including: feedback experience during use, encountered errors or feedback to build more features for the team.
One thing to keep in mind is that not all Testnets have bonuses:
From time to time the project will publicly Airdrop to Testnet participants.
Others will not go public but still have an Airdrop plan.
The rest will be no Airdrop intended.
A lot of coins skyrocketed right after the Testnet was successful and conversely, many coins could not complete the Testnet resulting in the value of their coins falling. Therefore, you should consider and learn before participating in ICO projects.