The Tezos Foundation has launched its beta network, calling the move an “inflection point” for the project, according to an official statement June 30.
According to Tezos’ statement, the team has proposed the genesis block of their so-called ‘betanet,’ and transactions can be processed on the network.
The Tezos team also stated that users can start validating blocks or ‘baking’ after the first seven cycles, which they estimate to be in about three weeks.
Tezos further warns that there is nothing the firm can do if “tezzies” tokens (XTZ) are lost or stolen.
According to Tezos’ website, the betanet is being launched in anticipation of a broader main network launch in the future.

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