The Tezos community, its developers, and the Foundation are all preparing for the Tezos beta network (“betanet”) launch. Fundraiser contributors who haven’t already checked their contributions or completed the Tezos Foundation’s identity verification process should do so now. This verification process can be completed either before or after the betanet launch.
Contributors can access and manage their recommended allocations on the Tezos blockchain using the command line client or a graphical wallet. This will require entering the activation code of a given public key hash obtained after completing the verification process, and the private key information (a fifteen-word mnemonic, and the email address and password used during the donation period). Contributors should make sure to exercise extreme care and take all available safety precautions when entering private key information anywhere.
The launch of the betanet will involve the community running “nodes” that execute the Tezos software and connect to each other in a peer-to-peer network. Since it takes seven “cycles” (or 28,672 blocks, around three weeks depending on the block time) for baking rights to be assigned to network participants, no block rewards will be issued by the protocol during this period. Check out the Developer Resources website for more information on cycles and baking rights in Tezos.
Thank you, and stay tuned for more information.