Tezos Mainnet to launch on Monday 23115
News
Priyanka Babu
Sep 14, 2018 at 11:45 PM

Tezos, a smart contracts platform, has announced that it will launch its mainnet effecting a fully released Tezos network. This marks the completion of the second and the last phase of the network marking its official launch. Tezos announced in a tweet that the promised mainnet launch will take place on Monday.

The first phase of the tezos network was the Betanet which allowed real-world testing and development. The Betanet now has changed to mainnet and all the transactions which existed on the betanet will 'persist into the mainnet'. "All Betanet transactions will persist into the Mainnet so there will be no disruption or changes to the ledger up to this point," according to the Tezos website.

The betanet phase helped the company to get more activity to the network and prod the network to function skillfully in real-world circumstances. Betanet also gave a short disclaimer advising people to avoid high dollar transactions on the betanet which caused some of the major crypto exchanges to pick up trading during the betanet period.

"The short-term changes may include further recognition of Tezos as the next major player in the blockchain space, and immediate notice by larger exchanges, such as HitBTC, which have been holding off supporting Tezos until the beta period was completed," read the website. The company believes that with the official launch of its mainnet it will evolve into a' world-class blockchain product' and also begin full production as an enterprise.

The crypto ledger has been plagued by a number of controversies ever since its blockbuster ICO in 2017. It seemed to have deviated from its roadmap in October last year when its co-founders Arthur and Kathleen Breitman accused the firm's president Johann Gevers of drawing up his own contract. He allegedly used the contract to compensate himself generously.

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