Aura Network is a layer-1 blockchain that focuses on increasing the usage of non-fungible tokens (NFTs) throughout a variety of different businesses. The project’s overarching objective is to realize the goal of “Building the Internet of NFTs” by establishing a complete ecosystem that will serve as a one-stop destination for minting, analyzing, and trading in NFTs.
In order to accomplish this objective, Aura Network has linked up with conventional businesses, gaming studios, and large IP owners on a worldwide scale. The purpose of these partnerships is to introduce greater accessibility to non-fungible tokens and blockchain technology in general to their current portfolio.
Serenity and Halo, Aura Network’s two primary testnets for decentralized application (dApp) testing, have both been successfully deployed as of April. Both of these networks are carefully regulated, with a small number of validators that are managed by the Aura development team along with a few additional partners.
Aura Network has announced that it will be releasing its Staging Network, which will go by the pseudonym of Euphoria. This is done so that it can more closely resemble Aura Network’s mainnet. This new environment will strive to become an almost perfect clone of Aura’s mainnet by being outfitted with the most recent capabilities for bootstrapping external validators, voting, vesting, and other similar activities.
Aura Network made the decision during the final week of June to ask 55 chosen validators to participate in Euphoria and conduct an analysis of the level of security and decentralization offered by the product. Since the tokens utilized in Euphoria are not the same as the tokens used on the Aura mainnet, the Aura Network will employ the Incentivized Validator Program to motivate validators to participate in Euphoria (IVP).
The profit motive is not the main purpose of incentivization; rather, it is intended to recompense validators for the amount of time and resources that they spend working on the network. Players in the Euphoria Staging Network, in fact, will get a reward of sixty Aura tokens on the Mainnet for every day that they spend operating a validator node in the Initial Validation Phase. In addition, in the genesis block of the Aura mainnet, each and every validator who successfully completes the IVP will be included.
Following in the footsteps of Serenity and Halo, the Euphoria Staging Network will be the next in line to provide creators with a perfect environment before moving on to the real thing. After this launch, the Aura mainnet launch will take place, and it is anticipated that it will take place by the end of September 2022.