Today, we proposed a genesis block that is now the seed of a beta network. Validation (“baking”) has commenced and transactions may now be processed. Community members can connect to the betanet immediately and start baking after the first seven cycles (28,672 blocks or approximately three weeks, depending on the block time). No block rewards will be issued during this time as baking rights are unassigned.
Make sure to take all available safety precautions before interacting with the betanet. Any party or software, such as a wallet, that gains knowledge of private key information will have access to the tokens controlled by the associated public key hash. Always think twice before entering private key information anywhere. There is nothing that we can do to help if tokens are lost or stolen.
Below is the link to the proposed genesis block for those interested in checking its contents. Also included here is the hash of the genesis block itself for confirming its authenticity.
The future of Tezos rests in the hands of its community. This moment marks an inflection point for the project, and we are excited to support community developers, scientists, validators (“bakers”), and enthusiasts from all over the world as they drive the success of this innovative, decentralized network.
Press Release: Tezos Betanet Launch [PDF]