Tezos (XTZ) Set to Launch Mainnet this Monday, Ends Experimental Period
Over the weekend, the project finally announced the end of its testing stage and the move to its permanent mainnet.
Tezos (XTZ) set the ground for launching its mainnet this Monday, with a pre-announcement last Friday:
The final stage of the Tezos launch comes after a significant delay following a rift between the Tezos Foundation and the project’s code owners, Kathleen and Andrew Breitman. The Tezos network will have a previously unseen staking and voting mechanism in an attempt at yet another form of consensus and delegation mechanism.
Immediately after the pre-announcement tweet, the price of XTZ jumped from around $1.36 to $1.64 on September 14. The recent climb of XTZ extended from around $1.20 last Monday. As of 6:00 UTC, the price of XTZ was $1.57, with a 1.97% loss in the past 24 hours.
This time, however, there will be no technical changes, or a need to swap tokens. The event primarily marks the end of what is considered the “experimental phase” on the Tezos network, in which the project was seeking errors and potential problems.
The Tezos network is currently around block 107,009, and will not restart or renew the counting. The network has carried around 2,500 transactions in the past 24 hours, based on information from the block explorer. The network is secured by a list of 56 “bakers”, which allow owners of XTZ to stake their coins and receive rewards.
The Tezos community greeted the official launch as a sign that Tezos could be considered stable enough for addition to larger exchanges. XTZ now trades on Gate.IO, HitBTC and a few other exchanges that are seen as second-tier. The community once again asked for leading exchanges, expecting a Binance listing in the future to lift prices.
Additionally, the levels of Tezos baking would affect the payouts and possibly the market price of XTZ. The network allows for passive income, but there is also selling pressure from liquidating the rewards.