AIn addition, at the same time, it is also responsible for communicating with each other to the miners (in case of PoW) or validators (in case of PoS). In the same way, it also has the function of providing the necessary space, resources and technology so that the operations of said blockchain and cryptocurrency are carried out on it, which includes transactions, operations or events related to smarts contracts within the possibilities of said network.
In this way, mainnets are a vital part in the development of a blockchain and a cryptocurrency, since they provide a clear value for the cryptocurrencies, and the related blockchain, because it becomes the space for the implementation of real-world technology.
How important is a mainnet?
The importance of a mainnet lies mainly in being the space where blockchain technology and its cryptocurrency are developed in an environment of real use. To understand this in a much clearer way, imagine the following:
Bitcoin It has three networks that are Mainnet (the main network where the BTC cryptocurrency with a recognizable market value moves), Testent and Signet (these two are test networks, each with its own currency without any value). Although you can perform operations on all of them (send and receive cryptocurrencies), only the technology that reaches the mainnet is considered a useful technology in real life and available to end users and, therefore, only the technology on the mainnet can increase (or decrease) the value of Bitcoin as a technology and also as a value.
A good example of this can be seen in Ethereum, where its current mainnet (that of ETH 1.0) will be strongly affected, both technologically and in terms of value, with the final arrival of ETH 2.0. After all, ETH 2.0 will be a major update to the Ethereum mainnet that will take it into the future within its developers' goals. Of course, these changes have gone through a long development process (ETH 2.0, has been in development since 2018), changes that we can already see in the Ethereum testnet.
How does the development of the mainnet affect the price of a cryptocurrency?
Continuous updates and revisions of the mainnet function is a basic thing for developers to consider if a cryptocurrency project is looking for success, not only as a development, but also in terms of price increase. For example, the arrival of SegWit in Bitcoin caused the value of the cryptocurrency to go from $4140 USD to more than $4370 USD, making clear the effect that this technological activation had on Bitcoin and its valuation. The same event was replicated with the arrival of Lightning Network and Taproot, confirming this fact.
Still, to dispel any doubts, one of the most recent events of this kind can be seen on Cardano. The arrival of smart contracts on the Cardano mainnet in September 2021 rapidly boosted the adoption and revaluation of this cryptocurrency. In fact, just the rumor and the arrival of this technology on the testnet fueled the growth in value of ADA, going from $0,3 USD to $3 USD per ADA.
With these examples it is very clear that all technology and progress that reaches the mainnet has a direct impact on the adoption of a blockchain, its cryptocurrency and all the technologies that a project presents. Thus, we can clearly say that the future and success of a mainnet and its capabilities is the future and success of a blockchain project.