MUN Blockchain is a Level-1 Blockchain that is built on Tendermint and is a crucial component of the Cosmos Hub network architecture. The initial use for the MUN blockchain will be to revolutionize the $900 billion remittance business. MUN is a cutting-edge Level-1 Blockchain that disrupts the international payments business by combining blockchain technology with a real-world application scenario. The decentralized payment network is launching its initial Public Testnet today. Additionally, the initiative has asked its more than 80,000 community members to study the Testnet and provide input to aid in its development. As per their timetable, MUN will deploy its Mainnet shortly after the Testnet in the first quarter of 2023.
The enthusiasm around the introduction of Testnet for MUN stems from the fact that it is the initial time the general public will acquire first-hand knowledge of how a blockchain-powered remittance environment platform varies from the sector’s existing remittance service providers. MUN is happy to highlight the future of decentralized fund transfers by providing a completely transparent, decentralized, and safe remittance procedure with its MUN Broker platform, while conventional remittance service providers encounter issues owing to their high costs and stringent controlled regulations.
The introduction of the Testnet edition of the MUN Blockchain is a leap forward in the group’s efforts to improve the network and ensure that the community has a role in how the venture progresses. All MUN community members may now investigate the MUN Blockchain’s capabilities. The core group will consider all user comments and apply any required modifications to enhance the Blockchain, wallet, staking dashboard, and block analyzer. This is going to be really community-centered and community-focused endeavor.
The MUN group is distributing a considerable part of MUN Tokens to compensate MUN Testnet programmers, validators, and provers. As it gets ready for the rollout of its Mainnet, the MUN environment utilizing this occasion to enroll more validators. Alex, one among the co-founders of MUN, stated, “Our main objective is to provide the greatest possible developer foundation for a decentralized payment environment.” “MUN is designed from the bottom up utilizing cryptocurrency sector expertise and implementing it to the actual world — the international money transfer network. The blockchain network has hardly been implemented, and the global payment mechanism has been ignoring critical difficulties for a long period of time. The suppliers of remittance services, who offer crucial services to migrant workers and also their loved ones in emerging economies, are important to this problem.”
The team is diligently working to ensure that the blockchan inetwork can accommodate a constant flow of new customers and trades, as the network demonstrates that it is safe and suitable for public use/testing. “ It is essential to do rigorous testing. Alex commented, “The evaluation stage isn’t only about addressing issues; it also involves obtaining community input on how the network works in reality.” By collecting data, the engineering team may have a better idea of the manner in which the MUN protocol is being used and what should be enhanced. MUN will go through every stage and procedure without hurrying or overlooking crucial elements and functions, because to the momentum it has built rapidly. Slow and consistent carries the day. We are in this for the long haul, not the short run.
