ADN Mainnet: Bringing in a New Degree of Trust and Transparency
ADN Coin will be having its mainnet launch. For those of us who are new to blockchain, read this blog to grasp the mainnet meaning in its entirety.
By now you have heard of many terms that keep popping up in daily crypto discussions. Aside from bitcoin, cryptocurrency, and blockchain technology, you must have encountered the terms smart contracts, consensus protocol, digital ledger technology (DLT), and initial coin offerings (ICOs). But if you have delved deep enough into the crypto world, you might have also heard about the mainnet.
ADN is a blockchain-based platform that intends to purify the ICO atmosphere of frauds, scams, and other similar activities commonly associated with the said fund-raising activity. One of its most unique features is its investor-protection mechanism which will largely benefit ICO investors, as well as ICO holding companies.
To be able to do so, ADN is developing its own mainnet through a collaborative effort with our partner DeepDive.Tech. Let’s dive deeper into this breakthrough concept.
Main Network
Mainnets, short for main networks, are basically blockchain networks where live transactions happen. As in the case of popular blockchains, open-sourced mainnets are where network participants can view and verify live transactions as they occur.
Testnets, on the other hand, are also blockchain networks created by an organization or platform for testing. This is where developers test the network for bugs and possible loopholes that could otherwise be exploited later.
In a nutshell, mainnets are the actual end product (live blockchain), while testnets are trial blockchain available exclusively to developers for testing.
Existing Mainnet’s
Every blockchain-based system understands the disadvantages of not having its own mainnet. There are many restrictions in terms of code, consensus, etc., and many opt to create their own mainnet for those obvious reasons. However, those that don’t see the need to undergo the rigors of mainnet creation choose to reside on the ecosystem of an existing blockchain.
Those that depend on a specific mainnet may not be able to change the ecosystem’s consensus protocol. If they want to craft their own rules, they may depart from the mainnet and create their own. This is popularly known as a hard fork.
One pioneering example of a blockchain mainnet is Ethereum’s, which interacts with a handful of decentralized applications (DApps) and allows the creation of utility tokens which perform various purposes. According to ConsenSys, an Ethereum-based software development firm headed by Ethereum Co-Founder Joseph Lubin, there are over 90+ Ethereum DApps that are functioning well and are available for download on any device. Some notable examples are Brave, CryptoKitties, Coinbase Wallet, Decentraland, Golem, and Augur.
Other popular blockchains are TRON, which acquired the legendary torrenting site BitTorrent; EOS, which has gained a staggering $4.6 billion in crowdfunding; and Stellar, which is the formidable partner of tech juggernaut IBM.
The ADN Mainnet
ADN is currently developing its own mainnet together with its partner DeepDive.Tech, a security and blockchain development company based in New York.
Tad Einstein, CIO of ADN, said in a press release that they created ADN to reinstill investor confidence in ICOs by providing a secure investment and transaction platform. ADN will be a blockchain ecosystem that will allow the creation of DApps, just like those mentioned above.
However, its mainnet will be unique because it will have an ICO wallet. This will be a digital vault that will safeguard the funds of investors from scammy ICOs. Funds kept in the ICO Wallet will not be accessed by ICO holding companies until a majority of investors reach consensus. Each ICO project will be divided into stages, wherein funds will be allocated.
This mechanism will allow the ICO investors to scrutinize the project in terms of quality of output and the faithfulness to a previously agreed-upon timeframe.
For now, ADN’s own crypto is an ERC-20 token, which means that it is currently in the Ethereum mainnet. But once the development preparations are complete, ADN will leave the Ethereum blockchain and migrate to its own unique mainnet.
Bringing in a New Degree of Trust and Transparency
Blockchain technology has proven itself capable of revolutionizing the way we conduct our daily affairs. It has an array of use cases that allow seamless and transparent transactions. It has impacted various sectors such as supply chains, banking, financial tech, information technology, software engineering, and governments.
ADN aims to contribute to the improvement of blockchain technology by creating a more secure environment where quality ICOs could thrive. As previously said by Tad, “ADN’s platform will bring in a new degree of trust and transparency to blockchain-based projects.”
Watch out for further updates regarding our mainnet development. Also, you may avail of ADN Coin, our native crypto, which will play a pivotal role in our own unique ecosystem. This is now available across different crypto exchanges.
