After the launch of its token last year, the sustainability-focused layer1 blockchain, 5ire, has finally announced the launch of its mainnet. 5ireChain, the world’s first EVM-compatible hybrid layer 1, driven by Sustainable Proof of Stake (SPoS) consensus, went live on Monday, 1st of July.
The project’s novel approach to blockchain consensus processes has drawn a lot of interest. It has also received recognition for conforming to the Sustainable Development Goals (SDG) of the United Nations.
If you are a blockchain enthusiast, a developer who wants to build sustainable applications, or just curious about the future of decentralized technologies, 5ireChain’s upcoming mainnet launch will be of particular interest to you.
5ireChain presents 5ireScan: A new era of transparency and accessibility
Recently, the project unveiled a ground-breaking platform intended to completely change how consumers engage with the 5ireChain ecosystem. The launch is a major turning point for blockchain accessibility and transparency.
Some of 5ireScan’s capabilities include easy transaction scanning, which provides users with immediate insights into the movement of assets across the network. The platform will also provide clear insight into validator contributions. This further augments the transparency of the consensus mechanism inside the network. Users will receive a thorough overview of the network’s architecture along with in-depth knowledge regarding global node operators.
For developers, there is a powerful contract verification tool. This aims to streamline the process of verifying smart contracts.
5ireScan’s intuitive interface allows users to query blockchain data using natural language, making complex information easily accessible to all.
Unique features
A major concern that has gained prominence in recent years is climate change, and blockchain technology lies at the center of it. 5ireChain’s emphasis on sustainability is one of its main objectives. The network uses a Sustainable Proof of Stake (SPOS) consensus method. Validators and nominators who support sustainable development and adhere to ESG (Environmental, Social, and Governance) principles will be economically rewarded by the system.
The project also utilizes a dual-chain architecture. It has a high-performance native chain along with an EVM-compatible chain, letting users choose whether they want raw performance or compatibility with existing Ethereum-based tools and smart contracts. The network also supports both EVM (Ethereum Virtual Machine) and WASM (WebAssembly) environments.
A unified address format is one of the additional features that makes asset management and user transactions easier. For high-value transactions, the network makes use of a sophisticated security module called the Secure Transaction System (STS).
5ire’s Real World Assets and Key Collaborations
Tangible asset tokenization is known as Real World Assets (RWA). RWAs are becoming increasingly popular as blockchain technology gains traction. Providing reliable, unchangeable sustainability data connected to real-world assets is a central goal of 5ireChain.
The team has partnered with LumiShare and other projects to focus on tokenization of real-world assets, starting with renewable energy assets.
5ireChain recently partnered with MCB Ventures Holdings to develop a massive RWA-focused launchpad, and the first project through this launchpad to be a $7B solar energy-focused project in Congo. The project aims to start with an initial 500 MW capacity scaling up to 5.4 GW. The team has also announced a collaboration with GRO to build a billion-dollar carbon-offsetting marketplace.
These are some interestingly intriguing partnerships that will be beneficial for the network’s TVL and definitely worth looking forward to in their tech roadmap.
5ire’s market presence and roadmap
With additional listings expected, 5ire is presently available on four major exchanges: Gate.io, MEXC, BingX, and Bybit.
Moving from the Thunder Testnet to the mainnet is the team’s immediate objective. The group also wants to explore ideas for the future, such as AI-driven insights and quantum-proof keys, with a key focus on allowing users to bridge their ERC20 5ire tokens to the 5ire mainnet.
5ire is creating an ecosystem that allows developers to easily build and deploy their solutions, allowing for focus on innovation, scalability, and real-world impact.
The project will also incorporate an AI algorithm into 5ireScan, its blockchain explorer. Users will be able to use simple phrases like “Show me my last erc20 token transfers” to interact with 5ireScan.
Conclusion
The current technology is most definitely moving toward a more sustainable world. As more projects that focus on real-world tokenization start to emerge, 5ire finds itself right at the forefront of what it had envisioned. Watch out as 5ire rolls out their mainnet in phases throughout the next few weeks.
It is an exciting time for us web3 enthusiasts as we might as well be sitting right on the verge of the market taking a U-turn. Will the bull cycle return? Will 5ire be amongst the ones that shine? All stars are pointing in the right direction for them.
To learn more about the project, visit the 5ireChain website, X Page, Telegram, Discord and Medium.
DISCLAIMER: THIS IS A SPONSORED POST