Am sure you must have come across these terms often in this space. Testnet and mainnet. What are they really?
Testnet and mainnet are two different environments used in blockchain technology.
A testnet is a separate blockchain network created by developers for testing purposes. It is designed to simulate the features and functions of the mainnet, but with no real-world value. Testnets allow developers to experiment with new features and test smart contracts without risking real assets or funds. Testnets can also help identify potential issues and vulnerabilities before they occur on the mainnet.
On the other hand, mainnet refers to the live blockchain network that operates with real assets and real economic value. Transactions on the mainnet are permanent and cannot be altered or reversed once they are confirmed.
In summary, testnets are used for testing and development, while the mainnet is used for real-world transactions and operations.