Get ready for the blockchain launch of the year! Namada, a revolutionary Layer-1 blockchain, is rolling out its mainnet in five thrilling phases. This community-driven decentralized governance model puts you in control, ensuring that the network’s evolution aligns with its users’ needs and values. Join OriginStake for this historic event and become a part of the future of blockchain technology.
Learn more: What is Namada Network
Introducing the Five Phases of Namada Mainnet Launch
Namada, a Layer-1 blockchain that provides data shielding for assets, applications, and blockchains, announced the launch of its mainnet at the ATOMSeoul conference held on April 1, 2024. Namada co-founder Adrian Brink unveiled a five-stage roadmap plan for the launch, with each stage requiring a governance vote from the community to proceed. The five-step roadmap includes the ‘Block Party,’ ‘Staking Party,’ ‘Shielding Party,’ ‘Shielding Rewards Party,’ and ‘NAM Party,’ which will signify the mainnet going live.
The data protection Layer 1 blockchain will launch its mainnet in five steps, allowing the community to conduct a decentralized governance vote for each phase of the launch. Namada aims to provide users’ assets, applications, and blockchains with private and secure transactions and balances by leveraging zero-knowledge cryptography. Currently in its public testnet phase, Namada serves the Cosmos and Ethereum ecosystems and plans to add other blockchains in the future. The platform will not only support the creation of DApps that protect users’ personally identifiable information but will also retrofit data protection to existing transparent blockchains and other platforms.
Phase 0: Pre-Launch
Namada Public Testnet Live
The journey begins with Phase 0, the Pre-Launch phase. During this phase, validators are stress-testing the network to ensure its robustness and reliability. Once the testing phase concludes, a genesis block proposal will be published by the community, marking the official start of the Namada mainnet.
Phase 1: Block Party
Proof of Stake and Governance Enabled
Phase 1, known as the Block Party, sees the activation of proof of stake and governance mechanisms. Genesis NAM balances become accessible for NAM holders, enabling them to operate validators, stake, and vote on governance proposals. The transition to Phase 2 will occur once governance approves staking rewards and public goods funding.
Phase 2: Staking Party
Staking Rewards and Public Goods Funding Enabled
In Phase 2, the Staking Party, staking rewards for NAM delegators and validators are activated. This phase also introduces Public Goods Funding, which supports the Namada ecosystem. The progression to Phase 3 will be triggered when governance allows transfers and shielding of IBC assets.
Phase 3: Shielding Party
IBC Asset Transfers and Shielding Enabled
Phase 3, the Shielding Party, enables the transfer and shielding of IBC assets. Users can now shield their assets, enhancing privacy and security. However, NAM transfers will remain locked until Phase 5. The move to Phase 4 will follow governance votes for shielding rewards.
Phase 4: Shielding Rewards Party
Shielding Rewards Enabled
During Phase 4, the Shielding Rewards Party, live rewards for governance-enabled IBC assets are introduced. Users can collect rewards for shielding assets, thereby protecting data and strengthening Namada’s shielded set. The commencement of Phase 5 depends on governance enabling NAM transfers.
Phase 5: NAM Party
NAM Transfers Enabled
The final phase, Phase 5, the NAM Party, marks the enabling of NAM transfers. Once the network is stable, the Namada community can activate NAM transfers. At this stage, all key protocol functions are live, and the community can add new features and assets through on-chain governance.
Implications of Namada Mainnet Launch
Enhanced Privacy and Security
The Namada mainnet launch significantly enhances privacy and security within the blockchain ecosystem. By leveraging advanced cryptographic techniques and community-driven governance, Namada ensures that all transactions remain private and secure.
Improved Interoperability
With its IBC compatibility, Namada facilitates seamless interoperability between different blockchain networks. This interoperability enables the transfer of assets and data across various chains, fostering a more connected and versatile blockchain ecosystem.
Community-Driven Development
Namada’s mainnet launch emphasizes community-driven development. By involving the community in the decision-making process and incentivizing participation, Namada ensures that the network evolves in alignment with the needs and values of its users. This approach promotes transparency, inclusivity, and active collaboration.
Conclusion
The launch of Namada’s mainnet represents a significant advancement in the blockchain industry, introducing innovative features designed to enhance privacy, interoperability, and user experience. From asset-agnostic shielded transfers and a shared shielded set to fast ZKP generation on edge devices and a trustless Ethereum bridge, Namada is setting new standards in the industry. By treating privacy as a public good and incentivizing users to hold shielded assets, Namada ensures robust privacy guarantees for all participants. As Namada continues to evolve, it will undoubtedly play a crucial role in shaping the future of blockchain technology.
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