Tezos faced a lot of controversies to reach this stage, now after running their network on alphanet, which was basically a testnet, the real world application was something the chain was missing, while there were a lot of existing blockchains to choose from for both public and private, will Tezos Betanet have something really worth up their sleeve.
The launch of the Tezos Betanet rolled out on 30th of June, with the official statement from Tezos released on Tezos Foundation. According to the statement, the genesis block can be processed on their Betanet network. The team has provided input stating that the users can start validating the blocks after the first 7 cycles, which would be roughly about 3 weeks.
The company, however, has warned its user to take precautionary measures prior to any transactions they would be carrying on the network, the reason being this is the first time Tezos is rolling out their very own mainnet, we have already seen in past how EOS mainnet launch got a real blow, when the governance mechanism was criticized not to be working with the new launch of the mainnet. Before the launch the mainnet was found with a bug, followed by the controversies of the block producers’ decision on freezing 7 accounts. This showed that it takes a lot for a mainnet launch and everybody keeps a close watch on the release.
Tezos has been facing a lot of issues, the point of concern is Tezos has also been facing multiple lawsuits, which has not been a great journey so far, apart from that this will be the first time the company will be launching a mainnet which will be having real world business application, with the existing blockchains and their competitive growth it’s really a difficult challenge for Tezos to compete with them.
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