The Spendchain main network is officially live and launched successfully! Spendchain is a high speed, interoperable, payments blockchain designed to bring commercial payments directly on chain. There has been over 10 thousand successful blocks already validated with 21 validators active and currently securing the network.
What’s next?
Spend Europe will begin to work with digital asset exchanges to integrate Spendchain and enable all ERC20 and BEP2 SPND to be converted into mainnet coins. We will release updates on these integrations as we get updated from the exchanges directly.
Spend.com will also begin to implement Spendchain into the Spend Wallet Mobile Applications where all SPND and SPNDB will automatically be converted to native SPND. Spend will be migrating their cold wallets to custodian wallets to start this process as well.
Since the Spendchain protocol is interoperable we will enable users on the Spend Wallet to withdraw SPND, after mainnet, in three fashions:
• Native Spendchain SPND
• Ethereum ERC20 SPND
• Binance BEP2 SPNDB
This will enable users to decide which protocol they want to use Spendcoin on such as decentralized exchanges on Ethereum or Binance.
Spend Europe will also release updated Desktop and Web based non-custodial Wallets so users can interact with Spendchain and manage Spendcoin.
Important Notes:
There currently is 0 inflation in the Spendchain network, which means no coins are being minted for block rewards. When 65% of SPND becomes staked and bonded to the network, inflation will begin then. Currently only ~25% is staked at the moment.
Validators can vote to change this requirement and other proposal changes directly on chain. Proposals can be viewed from the Spendchain block explorer.
Relevant Links:
Block Explorer: https://explorer.spend.org
GitHub: https://github.com/Spend
Documentation: https://docs.spend.org
