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
ASIC Resistant
A term used to describe cryptocurrency proof-of-work protocols that are resistant to Application-Specific Integrated Circuit (ASIC), by packing in various parameters that make it difficult for ASICs to have a competitive edge against consumer hardwares.
Halving
Event that serves to reduce in half the reward of the Proof-of-Work miners that operate in the blockchain network.
Batch Auction
A Batch Auction distributes an amount of tokens to users that is proportional to their contribution to the pool.
Testnet
Shorthand for "Test Network", testnets are staging areas for experimenting new blockchain features.
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