Bitcoin: The First Decentralized Digital Currency
Bitcoin, introduced in 2009 by Satoshi Nakamoto, is the first cryptocurrency, operating on a decentralized blockchain. Unlike traditional currencies managed by governments, Bitcoin is maintained by a global network of computers that securely validate and process transactions. This decentralized system allows users to trade and transact without intermediaries.
Key Bitcoin Networks: Mainnet, Testnet, and Signet
As you explore the Bitcoin ecosystem, you’ll find various networks designed for different purposes. Xverse wallet supports three key networks:
Bitcoin Mainnet
This is the primary network where the actual Bitcoin transactions occur in the distributed ledger, involving BTC tokens with real-world value. It’s the foundation of the Bitcoin economy and the network primarily used by Bitcoin holders for daily transactions.
Bitcoin Testnet
Testnet is a sandbox environment where developers and users can experiment with Bitcoin transactions without risking actual funds.
Bitcoin Signet
Signet is another testing network similar to Testnet but with enhanced coordination and stability. Unlike traditional Testnets, Signet blocks must be signed by a designated authority, ensuring stability and reliability in the testing process. This controlled mechanism makes Signet an ideal choice for scenarios where a stable network behavior is crucial for accurate testing outcomes.
Bitcoin (BTC) on Testnet and Signet is intended for testing purposes and holds no monetary value. Users cannot transfer BTC from these networks to the Bitcoin Mainnet.
Using Xverse Wallet Across Bitcoin Networks
Xverse wallet provides seamless access to the Mainnet, Testnet, and Signet, allowing users to engage with Bitcoin in various contexts.
Whether you’re handling real transactions on the Mainnet or experimenting in a testing environment, Xverse ensures your experience is smooth and secure.
To switch networks in Xverse wallet, go to Settings (⚙️) > click on Network (currently set to Mainnet) > Switch to your preferred network and save your settings.
For further assistance, don’t hesitate to reach out to our support team.