Sustainability-focused blockchain platform 5th announced the public launch of its mainnet for a greener Web3 future.
What happened: The mainnet launch follows a successful test phase, which saw over 1 million on-chain transactions in the first month. This is a testament to 5ire’s commitment to redefining the perceived environmental impact of blockchain technology and promoting a greener Web3 future.
The 5ire mainnet can process up to 1,500 transactions per second, with half of the gas fees going back to users. The platform’s unique sustainable proof-of-stake (SPoS) model incentivizes users to adopt environmentally friendly practices.
Pratik GauriCEO and co-founder of 5ire, said: “Our mission is to demonstrate that blockchain technology can be a powerful force for good.”
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Why it matters: 5ire has already partnered with several institutional clients, including the Indian government. The platform has also organized numerous hackathons and meetups to cultivate a community of Web3 developers.
Additionally, 5ire is encouraging wider adoption of its environmentally friendly blockchain through a grant program. This initiative offers early-stage project funding, marketing assistance, technical support, and strategic investor relationships.
The launch of 5ire’s mainnet is an important step towards a sustainable Web3 future. With its unique SPoS model, the platform not only challenges conventional views on the environmental impact of blockchain technology, but also incentivizes users to adopt sustainable practices.
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