The Theta’s network’s cryptocurrency THETA made news after it found its way into the top ten. The asset rose in terms of price as well as market cap. The market cap of the altcoin over took prominent cryptocurrencies like Litecoin [LTC] as well as Bitcoin Cash [BCH]. The market cap of the coin was at $11.89 billion. At the time of writing, the altcoin was trading for $11.94. After surging exceptionally for a day, the coin was seen enduring a downfall. The asset was plummeting by over 13% in the last 24-hours.
While the price of THETA has been recording a slump, the development of the network has been sailing smoothly. However, a delay has been announced with regard to the launch of the Theta Mainnet 3.0.
Theta Mainnet 3.0 Moved From April To June
The progress along with the date of launching the Theta mainnet 3.0 was noted in a recent post. The blog post penned down by Theta Labs revealed that the Mainnet needed more time to be made available to its users. While noting that Elite Edge Nodes and TFUEL staking and burning of the mainnet have been concluded, a few other aspects needed to be addressed.
Since the devs have to make sure that the platform scales to 100K+ Elite Edge Nodes along with the addition of a few more building blocks. The building blocks would aid in the platform’s long-term NFT vision. Therefore, in order to incorporate these features, the launch of the Mainnet 3.0 will be pushed to 30 June 2021. This launch was originally scheduled for 21 April 2021.
Addressing the delay, the blog post further stated,
“Our development team has always taken a conservative approach to onchain upgrades, and are proud that in 2+ years the Theta blockchain has never experienced any chain halts or other major core issues. A similar delay to Mainnet 2.0 in the spring of 2020 led to a successful launch without technical problems, so the team is confident this is the right choice for the long term.”