UAE based 5irechain, a blockchain platform with a strong focus on sustainability, has announced the public launch of its mainnet following a highly successful testnet phase of 1 million on chain transactions within its first month.
As per the press release, With the mainnet now live, 5ire aims to revolutionize the blockchain industry by showcasing how blockchain technology can be both efficient and environmentally friendly.
The 5ire mainnet is capable of processing up to 1,500 transactions per second, and uniquely, it returns 50% of gas fees to users. This initiative strives to foster a greener future for the web3 space.
5ire’s mainnet is designed to be developer-friendly and employs a Sustainable Proof-of-Stake (SPoS) mechanism. This mechanism rewards users who adopt environmentally conscious practices, thereby emphasizing an ecological-first approach. The platform underscores the potential for a fast, secure, and cost-effective network while maintaining environmental accountability.
Pratik Gauri, CEO and co-founder of 5irechain, emphasized that the mission is to demonstrate blockchain technology as a powerful force for good. By integrating sustainability metrics directly into their protocol, 5ire aims to create a blockchain that is not only fast and efficient but also aligned with global sustainability goals.
5ire’s mainnet features a dual-chain architecture that is fully EVM-compatible, allowing developers to build decentralized applications (dApps) that drive positive impact within the web3 realm. The platform includes features such as a single key that derives both a Substrate-native and an EVM account, ensuring that Ethereum developers can build on the platform with ease.
Gauri highlighted that the company’s primary goal is to build a long-term, sustainable product with a proven track record, rather than chasing the image of a unicorn. The launch of the mainnet, particularly on India’s Independence Day, marks a significant milestone for the company and its team members, many of whom are from India.
Prateek Dwivedi, co-founder and CPO at 5ire, expressed excitement about the innovations that the growing community of developers will bring to life on their network. He highlighted that 5ire is not just another blockchain platform, but a movement towards a more sustainable and equitable future.
