Ethereum competitor Berachain to go live today

Investing.com -- Berachain, a blockchain platform employing a Proof-of-Liquidity consensus mechanism, is scheduled to go live today, according to a post on X. The exact launch time has yet to be specified.

Set to compete with Ethereum and Solana, Berachain gained a dedicated following over the past year, drawing interest from cryptocurrency enthusiasts. Its developers described the launch as occurring in a fictional "Q5" period, a term used humorously in reference to a nonexistent quarter beyond the traditional four. 

When it goes live, the EVM-compatible blockchain will tackle the “cold start problem” that often slows down new blockchains. Additionally, any major upgrades to the Ethereum mainnet, such as the upcoming Pectra upgrade, can also be implemented on Berachain.

A pre-deposit application developed to support liquidity on Berachain attracted over $3 billion from users within a week. Moreover, cryptocurrency exchange Bitrue announced support for Berachain, confirming the listing of its native token, BERA. Trading for the token is set to begin on February 6 at 13:00 UTC.

Adam O’Neill, Chief Marketing Officer at Bitrue, stated that the exchange plans to support developers within the Berachain ecosystem through marketing efforts, developer events, and expedited token listings.

“Investors are demanding exposure to exciting new projects as early as possible in order to lock in prices before coins go mainstream, so at Bitrue we’re proud to offer day-1 support for a highly anticipated coin like BERA to our users,” he added.

The Berachain token generation event (TGE) is set to coincide with its listing on Bitrue. The blockchain’s Proof-of-Liquidity consensus model separates gas tokens from governance tokens to support liquidity and incentivize on-chain activity. Community members have pre-staked over $2.1 billion on the network in preparation for the launch.

In April 2023, Berachain raised $42 million in private funding, followed by a $100 million Series B round in April 2024.