Namada Launches Native Token on Mainnet

Namada, a Layer 1 blockchain focused on privacy, has launched its mainnet. According to the announcement, this is an important step in its development. 

The launch began with the creation of the genesis blocks in the network. The initial phase of the mainnet focuses on staking and governance. This sets up a decentralized network driven by its community.

Namada Committed to a User-driven Ecosystem

Namada is giving away its native tokens, NAM, through an airdrop to eligible wallets as part of its launch. Recipients can immediately use these tokens to stake and participate in governance decisions. This focus on staking and governance shows Namada’s commitment to a user-driven ecosystem.

Notably, the rollout will happen in five phases. Token transferability will start in the fifth phase, which is expected to begin in the next few months. 

This will only happen once the Namada community is confident of its network. Meanwhile, Namada focuses on privacy by using advanced cryptographic methods to protect transaction details. At the same time, it ensures transparency in governance.

IOTA Foundation Revamps Mainnet With Move Transition

The IOTA Foundation unveiled IOTA Rebased recently, an ambitious upgrade proposal to revolutionize its blockchain network. 

IOTA Rebased proposes a complete overhaul of the network’s Layer-1 protocol by switching to a Move-based object ledger. Interestingly, this move makes IOTA the first Layer1 blockchain to adopt the Move Virtual Machine (MoveVM).

This transition opens the doors to programmability at the core layer, enabling developers to create Decentralized Applications (DApps). 

This transformative upgrade also positions IOTA alongside prominent MoveVM-powered blockchains like Sui and Aptos. Meanwhile, the Move programming language will be added to the architecture, allowing smart contracts to run directly on the Layer 1 ledger.

Celo Network Moves to Become Ethereum Layer 2

Recall that last year, cLabs, the Celo blockchain’s core developer, presented an ambitious plan to transform its Layer 1 network into a Layer 2 solution built on Ethereum. 

As revealed, the cLabs proposal outlines a future version of Celo based on a Layer 2 roll-up model. In this model, Celo will leverage Ethereum’s mainnet for security by publishing security proofs.

By doing so, Celo can benefit from the robust security guarantees offered by Ethereum, ensuring a higher level of protection than what Celo’s independent infrastructure currently provides.

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