We are excited to announce that Phase 1 of the Meter mainnet, code name “Edison”, is now live!
As of July 4th, 23:59:59 UTC, a new independent currency has been born. The first block of the network has been mined by Matpool, and Meter is now the very first HotStuff consensus-based protocol to launch its mainnet.
Our journey to change the global financial landscape and provide financial freedom for all officially starts today.
Key Milestones of the Meter Network
Here’s a quick overview of the key milestones of the Meter network and how we’ll be launching the mainnet in phases.
We’ve been working hard for over two years in building the Meter network. Here are the important milestones the Meter Network has reached:
December 12, 2019: The Meter testnet goes live, with basic functionality of the PoW and PoS chains. The Warring Stakes testnet challenge is launched to recruit validators to improve and optimize the network.
January 13, 2020: The testnet is completely run by 56 community nodes from all over the world, including the USA, China, Europe, and more.
February 11, 2020: Staking and on-chain voting goes live on the testnet.
March 20, 2020: MTRG on-chain auctions are released to the testnet.
April 3, 2020: The number of validators increases to over 90 and PoW hash rate reaches more than 1PH/s.
May 7, 2020: The number of validator nodes increases to 117 and the hashrate of the PoW chain reaches 16PH/s.
June 2020: The testnet is upgraded to the Meter mainnet candidate.
July 4, 2020, 23:59:59 UTC: Phase 1 of the mainnet is launched.
Phases of the Meter Mainnet Launch
Phase 1 is now live.
As always, Proof-of-Work mining of MTR is completely open and permissionless. Mining is currently supported by independent miners, Matpool, and soon by Hashpool. If you’re interested in mining MTR, please read the mining documentation here.
Proof-of-Stake validation will be initially handled by 15 Foundation-managed nodes.
We will maintain the Warring Stakes testnet, where test validators can continue to help improve the network and will still be rewarded with mainnet MTRG tokens. If you’re interested in joining Warring Stakes, click here for more information.
Integration with the Ethereum Virtual Machine (EVM) will initially be limited to the testnet.
Phase 2 should be launched in September, where we will gradually open up the network to staking by high-quality nodes who have validated on the testnet.
We will also launch MTRG on-chain auctions, where users can bid MTR to acquire MTRG to participate in staking and governance. To learn more about MTRG on-chain auctions, please read our Token Economics paper here.
We will also release all of our open-source Layer 1 code to the public.
The Phase 3 release, where validation will be completely open to the public, will take place around December. Integration with the EVM and oracles will be fully available for developers to build DeFi applications on Meter.
We have lots of other products in the pipeline!
Official Meter desktop wallets that support Windows, MacOS, Linux, and other platforms are now available. We are developing mobile wallets and plan to launch them in Q4 2020.
The block explorer for the mainnet can be found at https://scan.meter.io, but we are developing version 2.0 that will provide much more detailed information. This will be released very soon.
And in Q1 of 2021, we expect to launch a few DeFi products, such as synthetic assets and decentralized exchanges, based on MTR and MTRG.
We are super excited to launch the Meter mainnet!
We appreciate all of your support and thank you for helping us change the global financial landscape.
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Originally published at https://www.meter.io on July 4, 2020.