Subsocial Network Migration
We are very excited to be opening our crowdloan and bidding for a parachain slot. However, due to technical reasons involved with this, when we launch our crowdloan we will be switching the Subsocial blockchain to read-only mode - no more transactions will be accepted until the mainnet launches as a parachain.
Our current network is a betanet, a mix between a testnet and a mainnet. All content and balances on the betanet will be transferred to the mainnet. It will be beneficial to launch with a catalog of existing content and prior token distribution.
In order to launch a crowdloan, we need to have an operational blockchain node that is in standby mode, which will be activated when we receive our parachain slot. In order to work, this node needs a blockchain state. In essence, we will be forking the betanet and using the latest state of it as the genesis state for our parachain mainnet.
Preparing this is the main reason our crowdloan has been delayed so long. However, unlike most other parachains to date, we should be able to launch very shortly after securing our parachain slot. Once the mainnet is live, it will function identical to the betanet, with the exception that block times will be 12 seconds instead of 6 seconds, until Parity manages to lower parachain block times.
In the unlikely event that we don't win the fourth auction, the betanet will return to it's normal state, with transactions enabled, and we will repeat this process during the next round of auctions.
Thank you for your patience and understanding.