Introducing the Testnet Thunder ecosystem

5ireChain
11 min readMay 14, 2024

Overview

Welcome to the Testnet Thunder ecosystem, a comprehensive suite of tools and platforms designed to empower developers, validators, and users in the exciting realm of blockchain technology. This ecosystem is a testament to 5ire’s commitment to fostering innovation, security, and user-friendliness within the crypto space.

At the heart of Testnet Thunder lies the 5ire Explorer, a powerful block explorer and analytics platform that unveils the intricacies of the 5ire ecosystem. Whether you’re a developer seeking insights into transactions, addresses, or token movements, or an enthusiast eager to delve into the depths of the blockchain, the 5ire Explorer is your trusty guide.

For those who wish to play a pivotal role in maintaining the security and decentralization of the network, the 5ire Validator & Nominator App awaits. This comprehensive platform empowers validators to contribute to the network’s stability by validating transactions and creating new blocks, while nominators can nominate and support trusted validators, further bolstering the ecosystem’s resilience.

Testnet Thunder also introduces the revamped 5ire Wallet, a user-friendly and secure crypto wallet designed with cutting-edge features to enhance your digital asset management experience. With its intuitive interface, robust security measures, and seamless integration with the 5ire ecosystem, the 5ire Wallet is your gateway to the world of decentralized finance.

For those seeking to maximize their crypto holdings, 5ire Staking offers lucrative opportunities. By locking your assets for a specified period, you can earn attractive Annual Percentage Yields (APYs), contributing to the network’s stability while growing your investment. With flexible lock-in periods and auto-adjusting APYs, 5ire Staking caters to diverse investment strategies and risk appetites.

Last but not least, the 5ire IDE (Integrated Development Environment) is a dedicated platform tailored specifically for EVM-compatible smart contracts, NFT, and token development and deployment. Whether you’re a seasoned Web3 developer or just starting your journey, the 5ire IDE streamlines the development process, empowering you to bring your innovative ideas to life with ease.

Testnet Thunder is more than just a collection of tools; it’s a comprehensive ecosystem that puts the power of blockchain technology at your fingertips. Explore, validate, transact, stake, and develop with confidence, knowing that the 5ire team is committed to driving innovation and fostering a secure, user-friendly, and decentralized future for all.

5ire Explorer

A block explorer and analytics platform for the 5ire ecosystem. 5ire Explorer allows you to explore, search and track blockchain transactions and addresses, tokens, prices and more on the 5ire Native & EVM chain.

What is a block explorer?

Just as search engines like Google or DuckDuckGo sift through the vast expanse of the internet to bring you relevant information in a user-friendly format, block explorers act as the trusty guides of the blockchain world. They’re like the search engines of the blockchain realm, offering a simplified interface to navigate through the intricate web of blockchain data.

These block explorers serve as translators, decoding the complex technical language of the blockchain into a language that everyone can understand. By presenting this information in a user-friendly interface, they empower users and developers alike to effortlessly explore and make sense of blockchain data, unleashing a world of possibilities.

What is the 5ire explorer?

It is a block explorer and analytics platform for the 5ire ecosystem. 5ire Explorer enables you to explore, search, and track blockchain transactions, addresses, tokens, prices, and more on the 5ire Native & EVM chains.

How does it work?

  • Receive data through an RPC Call
  • Maintain the data record
  • Visualise in a viewer-friendly manner

Exploring Wallet Addresses

You can use the dashboard to dive deeper into a particular wallet address. Just click on any wallet address or use the search bar at the top to look into the history of transactions of any wallet.

Reading transactions and Block Details

The 5ire Explorer provides a thorough archive of all blocks and transactions, along with network analytics, charts, stats, and node-related information.

This encompasses various statistics such as price and market cap, average gas price, transaction speed, and network upgrades.

5ire Faucet

The 5ireChain faucet is a web-based service that provides mock 5ire Coins to users of the testnet. While these 5ire Coins have no ‘real world’ value, they will allow users to try out testnet features without having to spend real 5ire Coins on the mainnet.

The Testnet Faucet is currently available on the 5ireChain Explorer.

Validator & Nominator App

Validators and Nominators play vital roles in maintaining the security, stability, and decentralization of the network. It’s essential to understand the roles and responsibilities of Validators and Nominators within the 5ireChain ecosystem.

Let’s explore the crucial roles played by them within the 5ireChain ecosystem, along with the minimum requirements to utilize their functionality, and most importantly, their significant contributions to the growth and security of the 5ireChain network.

Who are Validators?

Validators play a crucial role in maintaining the security and functionality of 5ireChain through the consensus mechanism (SPoS). They validate transactions, create new blocks, and ensure network finality.

To become a 5ireChain Validator, participants must stake a minimum of 100,000 5IRE tokens as a guarantee of good conduct. The network rewards Validators for their security contributions and highly incentivizes them for their Sustainability and Reliability scores.

However, if a Validator violates rules or exhibits bad behavior, the network automatically deducts a portion of their stake (slashing) as a penalty.

Being a Validator carries significant responsibility, as they are accountable for both their stake and the stake of their Nominators.

Prerequisites for Becoming a Validator

To become part of the validator whitelist, participants will need to stake 5ire coins in the validator-specific staking pool and input the 5ire Native Chain address associated with their 5ire wallet.

The details for the validator-designated staking pool are as follows:

Minimum stake: 100,000 5ire tokens

Lock-up period: 12 months

Staking APY Rewards: 20%-35%

Click here to visit the validator-specific staking pool.

Please note that validators will receive APY rewards in addition to the testnet incentivization program; APY rewards do not factor into the total airdrop rewards for validators.

Interested in running a validator node? Click here to learn more about the process.

Validator Application

The Validator Application provides 5ire Validators with a user-friendly interface to monitor and manage their nodes efficiently. By using this application, Validators can contribute to the stability and security of the blockchain while earning rewards.

The Validator App allows Validators to perform tasks such as validating transactions, facilitating block creation, and participating in consensus with other Validators.

To begin your journey as a Validator on the 5ireChain, simply click on this link after meeting the minimum requirements. It will guide you through the process of becoming a Validator.

Who are Nominators?

Nominators play a key role in the consensus mechanism (SPoS) by selecting and financially backing trusted validators who create new blocks and validate transactions. This promotes decentralization and enhances network security. Unlike validators, nominators passively participate without running nodes or managing uptime — which further ensures an accessible and balanced ecosystem.

Prerequisites for Becoming a Nominator:

5ire Wallet Extension: Ensure you have downloaded the 5ire Wallet Extension on your browser and your wallet is set up.

Stake: To become a Nominator, it is essential to stake a minimum of 5000 $5IRE Coins in the nominator-specific staking pool.

Click here to visit the nominator-specific staking pool.

Nominator Application

The Nominator App offers a user-friendly interface to monitor and manage their nominated stake and associated Validators. Nominators actively participate in the 5ireChain network by staking their 5ire Coins to support the selection of trustworthy Validators. In return for their support, Nominators receive a portion of the Validators’ earnings/rewards.

You can find more information on the process and details of onboarding as a nominator by clicking here.

Incentivized Testnet Airdrop

Through Testnet Thunder: GA, we invite individuals, enterprises, and node operators to take part in our incentivized testnet program by becoming contributors to the 5ireChain network and operating as validators and nominators within the testnet. Validators and nominators are eligible for an airdrop from a pool of 5.25 million $5IRE coins on the mainnet.

Follow the links below to know more about the airdrop program:

Incentivised Validators

Incentivised Nominators

Conclusion

Validators and Nominators are essential components of the 5ireChain ecosystem, each playing a crucial role in maintaining the security, stability, and decentralization of the blockchain network. Validators ensure the integrity of transactions and contribute to overall security, while Nominators support the selection of Validators and participate in the consensus mechanism. By utilizing the Validator and Nominator apps provided by 5ireChain, these participants can efficiently contribute to the network’s functionality and be rewarded for their contributions.

Stay tuned as we continue to make progress on our roadmap and shape the future of sustainable blockchain technology.

5ire Wallet

The 5ire Wallet is a self-custodial virtual wallet and web browser for the 5ire ecosystem that works on 5ire’s Native as well as the EVM chain. The 5ire wallet is currently available as an extension on the Chrome and Firefox app stores. The 5ire wallet extension allows users to:

  • Create new wallets and import existing wallets.
  • Create memorable passwords for login (instead of using long mnemonics)
  • Manage and swap cryptocurrency.
  • Send cryptocurrency to other wallet addresses.
  • Interact with decentralized applications (dApps) on 5ireChain.
  • Access their private keys.
  • Facilitate transactions for both chains in the 5ireChain ecosystem.
  • It is currently available as a desktop browser plugin for Google Chrome only. It can be installed like any other browser plugin.

Here are the main things you should know about the wallet:

  1. Redesigned Interface: We’ve revamped the wallet extension to make it easier to use and nicer to look at. Navigation is smoother, and the interface is more intuitive, making managing your crypto assets a breeze.
  2. Improved Security: Your security is our top priority. That’s why we’ve upgraded the signature algorithm to Schnorr, boosting the overall security of the wallet and giving you peace of mind as you navigate the crypto world.
  3. MAX Balance Control: We believe in giving you control. With MAX balance control, you can set maximum limits for transfers and swaps, allowing you to manage your funds according to your preferences and risk tolerance.
  4. HD Wallet Integration: Managing multiple accounts just got easier with HD Wallet integration. Now, you can handle all your accounts with a single mnemonic, making it more convenient to manage various crypto assets.
  5. Existential Deposit Support: We’ve added an extra layer of security with Existential Deposit support, ensuring your transactions remain protected against potential threats.
  6. Resolved Loading Issues: No more frustrating loading delays! We’ve addressed and resolved any constant loading issues, ensuring a smoother and more responsive user experience.
  7. Option for Removing Derived Accounts: For those who like things neat and organized, we’ve introduced the option to remove derived accounts, allowing you to focus on the accounts that matter most to you.
  8. Automatic Balance Update: Keep track of your balance effortlessly with automatic updates. Your wallet balance will now reflect the latest transactions in real-time, giving you up-to-date insights into your crypto portfolio.
  9. Queuing for Multiple Transactions: Efficiency meets functionality with queuing for multiple transactions. Now, you can queue up multiple transactions for a more organized approach to managing your crypto activities.

With these exciting updates, we’re committed to enhancing your crypto experience, emphasizing security, flexibility, and empowerment. Try out the new features and see how they can elevate your crypto journey!

Install 5ire Wallet on Chrome and Mozilla.

5ire Staking

February 2024 saw the successful launch of Staking v1 on the Ethereum chain, marking a significant leap forward in maximizing the value of your crypto assets. In this inaugural release, users could enjoy a lucrative 12% Annual Percentage Yield (APY) with a secure 45-day lock-in period.

This contributed immensely to not only the stability of the network but also helped establish a robust foundation for the 5ire ecosystem. Excitingly, by the end of the month, we will introduce more staking options with auto-adjustment of APYs and diverse lock-in periods, offering users greater flexibility in tailoring their staking strategies.

5ire Staking V2 introduced a host of new features aimed at enhancing user experience, flexibility, and transparency.

More Lock-in Period Options:

One of the most significant upgrades in Staking V2 was the introduction of more lock-in period options. Users now have greater flexibility in choosing the duration for which they want to stake their assets. Whether it’s a short-term commitment or a longer-term strategy, users can now choose the lock-in periods tailored to meet diverse investment preferences. It is always a great idea to align your staking strategy with your individual financial goals and risk tolerance.

Auto-Adjusting and Boosted APY:

Staking V2 introduced an innovative auto-adjusting APY (Annual Percentage Yield) mechanism, designed to optimize rewards based on certain conditions (including but not limited to pool size, and market conditions). Through advanced algorithms and real-time data analysis, 5ire dynamically adjusts APY rates to ensure competitive returns for stakers. This will enable users to capitalize on opportunities while mitigating risks, enhancing the overall efficiency and profitability of staking on the platform.

In simple words, when the staking pool reaches a particular threshold, all members of the pool receive an automatic boost in their APYs.

Ability to See Transaction History:

Transparency and accountability are paramount in DeFi, and Staking V2 prioritizes these principles by offering users the ability to view their transaction history seamlessly. Whether it’s monitoring staking rewards, tracking withdrawals, or reviewing past transactions, users can now access comprehensive transaction logs directly from their dashboard.

Access the updated staking platform by visiting this link.

5ire IDE

A dedicated IDE for the development and deployment of EVM-compatible smart contracts, NFTs, and tokens.

What is an Integrated Development Environment(IDE)?

An Integrated Development Environment (IDE) is a software tool that assists developers in writing code more efficiently. With built-in features such as debugging, editing, and testing, it serves as an all-in-one solution that enhances productivity and streamlines the development process.

In the world of developers, IDEs are comparable to Google Docs for writers. Although it is possible to write code on text editors and manually organize it, IDEs simplify the task, minimizing errors and creating a smooth workflow.

5ire IDE

5ire has a dedicated IDE for the development and deployment of EVM-compatible smart contracts, NFTs and tokens.

The in-built 5ire IDE is an all-in-one development environment for Web3 developers. It bootstraps the development process with an intuitive interface and already-made templates.

Find more details on the IDE here.

Wondering how to deploy smart contracts on 5ire?

Visit this page to understand how you can deploy smart contracts on the 5ire Native and EVM chains using different development environments such as Remix IDE, Hardhat, or Ganache.

General availability links:

1. Validator App
2. Nominator App
3. Explorer
4. Staking Portal
5. 5ire Wallet

More information about 5ireChain can be found by clicking on the following links:

Website: https://5ire.org

Testnet Explorer: https://explorer.5ire.network/

LinkedIn: https://www.linkedin.com/company/5ireChain

Twitter: https://twitter.com/5irechain

Discord: http://discord.gg/5ire

Telegram: https://t.me/OfficialFireChain

Facebook: https://www.facebook.com/5irechain

Instagram: https://www.instagram.com/5irechain

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5ireChain

5ireChain — www.5ire.org | Layer-1 EVM Compatible Smart Contract Platform | In Consensus Sustainability