Mainnet meaning is the term used to describe when a blockchain protocol is fully developed and deployed, meaning that cryptocurrency transactions are being broadcasted, verified, and recorded on a blockchain.
In comparison to mainnet networks, the term testnet describes when a blockchain protocol or network is not yet launched and running on its full capacity. A testnet is used by programmers and developers to test and troubleshoot all the aspects and features of a blockchain network before they are sure the system is secure and ready for the mainnet launch.
Simply put, a testnet only exists as a working prototype for a blockchain project, while a mainnet is a completely developed blockchain platform for users to send and receive cryptocurrency transactions.
Typically, before the mainnet of a blockchain project is launched, the team will set up an Initial Coin Offering (ICO) or an Initial Exchange Offering (IEO) to help the project raise funds and grow their community. Subsequently, the collected funds are then used to develop the prototypes of the blockchain network, which is then tested during the testnet phase. After performing bug fixes and depending on the performance of the testnet, the team will then launch the mainnet version of the blockchain, which is then the final product and functional. Many new blockchain projects on the ETHereum network follow the above model to raise funds during the ICO phase in 2017.
Investors would typically receive ERC-20 tokens from the network for their investments in a project. After a project is fully-deployed, a mainnet swap will occur, where investors would swap their received ERC-20 tokens for native coins of the new blockchain.
In conclusion, mainnet meaning is the term used to describe when a blockchain protocol is fully developed and deployed.
