Crypto space has been hearing about fewer and fewer layer 1 projects lately. But there are still teams out there, developing new blockchains with the latest technology, waiting to be discovered by crypto enthusiasts, while everyone waits for the next bull run.
Areon Network is one of those layer 1 projects, who has been quietly building their chain for a while. With a bold mission statement to become ‘the most comprehensive blockchain project’, this team of 50 plus hard workers set a date for their testnet phase.
Scheduled for September 20, the launch of their testnet is a highly anticipated event that promises to be a game-changer.
What is a Testnet?
For those unfamiliar with the term, a testnet serves as a testing platform where developers can try out new codes, transactions, and applications in a risk-free environment. It is an essential step before launching the mainnet, allowing for thorough testing and debugging. The tokens used in the testnet have no real-world value and are solely for simulation purposes.
Why is it Important?
From the team’s perspective, it allows developers to test new functions and measure performance without affecting the mainnet. It's a safe playground for developers to innovate.
For the early investors of Areon, it’s a rite of passage. If the chain performs as well as Areon intends to, the sentiment for their project and the token named AREA will be favorable.
By joining Areon’s testnet, users will get the opportunity to explore the speed and functionality of the Areon Chain for the first time. There will be gifts and rewards for taking part in the event too.
What does the Testnet mean for Areon Network?
For both the Areon team and the community, the testnet serves as a rite of passage. It will be the first glimpse into what the Areon Chain is capable of as a blockchain. The testnet will not only validate the technology but also set the stage for future developments.
How to Join
Participation is free via a link on their website. Visitors will find detailed instructions on the page.
Testers may send and receive AREA coin in the test environment, observing the speed and the performance of the chain for the first time.
Areon’s developer team teased gifts and rewards for participating in the testnet event.
A Deflationist Approach
Along with their testnet, Areon team has also announced a new tokenomics structure and a decreased maximum supply once the mainnet is launched.
AREA is currently a token on Binance Smart Chain with a 500 Million Max Supply. Investors will receive 1:1 coin replacement for their tokens, once the project launches mainnet.
However, AREA coin will have only 250 Million Max Supply. That means half the supply will be gone once the mainnet launches.
Thus, investors will possess relatively more of the digital currency with this update. Details can be found on their Medium blog.
For those who wish to explore more participation opportunities during Areon’s testnet, the team also announced a brand ambassador program, named Areon Champions.
About Areon Network
Areon Network is a unique, decentralized layer 1 blockchain project with a spotless track record of stable development since day 1.
Areon Network is developing Areon Chain, where anyone can build new dApps, perform daily interactions of sending and receiving payments instantly for incredibly low fees.
Our consensus mechanism is called Proof of Area. It is a unique technology, which results up to 600,000 TPS without issues, and completes a transaction in around 100 milliseconds.