Berachain Launches Artio Test Network
Berachain, a Layer 1 blockchain built on the Cosmos SDK, has introduced its public test network called Artio. Previously, Berachain had a private testnet where 50 teams deployed contracts in a month. Currently, there are over 30 native teams and more than 100 teams from other networks planning to deploy on the testnet and mainnet. Berachain aims to be supported by custodians, cross-chain messaging protocols, bridging protocols, and data availability solutions upon its final launch later this year.
How Berachain Utilizes Proof of Liquidity
Berachain uses a variant of delegated proof of stake consensus called “proof of liquidity.” Unlike typical proof of stake chains, where users have to choose between staking with a validator or providing liquidity on a DeFi platform, proof of liquidity requires users to provide liquidity first before contributing to network security. In Berachain’s tri-token system, users earn BGT staking tokens by providing liquidity to on-chain protocols. Validators then direct staking rewards back into the ecosystem across multiple protocols to keep the network liquid.
From ‘Bong Bears’ to $42 Million Raise
Berachain is run by pseudonymous co-founders known as Homme Bera, Dev Bear, Papa Bear, and Smokey the Bera. The project has been under development since late 2021 and is their main venture after the NFT project “Bong Bears.” In April last year, Smokey the Bera mentioned that the public testnet and potentially the mainnet would launch in 2023. Berachain raised $42 million in a private token round led by Polychain Capital.
Hot Take: Berachain’s Proof of Liquidity Approach
Berachain’s use of proof of liquidity introduces an innovative approach to aligning security and liquidity in blockchain networks. By requiring users to provide liquidity before contributing to network security, Berachain incentivizes the growth of on-chain protocols and attracts new capital and delegates from the EVM world. This unique mechanism allows users to earn rewards while bootstrapping the network’s security. With a strong team and significant funding, Berachain has the potential to make a notable impact in the blockchain industry.
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