Testnet
By CoinGecko | Updated on Mar 03, 2020
Testnets are alternative blockchain network that mirros the consensus protocol on the main network (Mainnet). Testnets are useful for developers or people who want to experiment with transactions, smart contracts or various other operations in a test environment without fearing loss of cryptocurrency.
Related Terms
Decentralized Autonomous Organization (DAO)
Open source and decentralized systems that do not require centralized operators or controllers.
Venture Capital
capital (funds) that is invested in a company that needs a substantial pool of funds to initiate.
Proof-of-Developer (PoD)
A concept of identifying the developers of a project as a means of vouching reputation for a project
Consensus
Consensus is achieved in a blockchain system when all participants agree on the content of the next block that will be added onto the blockchain.
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