Tezos Foundation To Launch Mainnet

Tezos Foundation has revealed the release of their mainnet will commence this Monday via Twitter.

It is now official that the Tezos platform will switch from its beta state into a long-awaited full functioning one with the move to its very own mainnet. The beta version was launched in June, giving users the opportunity to start validating blocks or “baking.”

The Tezos Foundation has been the talk of the town a couple of time during its relatively short existence. Raising a phenomenal amount of money in 2017 with its initial coin offering (ICO), the blockchain project, that aimed to create the first self-improving digital currency raised about $232 million. At the time, this was the biggest ICO in history, and today it is still one of the top five biggest ICO’s. However, the team behind Tezos stated that this is not a "speculative investment,” rather a "non-refundable donation," and additionally not even guaranteeing the issue of their tokens.

Later a conflict arose between the co-founders of the project, leading to a delay in the opening of the platform and numerous lawsuits against the firm. Not to mention the lawsuits concerning the difficulties with the conformity to the regulations of the U.S. Securities and Exchange Commission (SEC), due to the complex nature of their ICO, claiming that the tokens ought to be seen as securities and registered with SEC if they were to be distributed to investors.

At the moment of publication, tezos (XTZ) are being sold for around $1,67, with the market cap just exceeding the one billion margin.

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