WaltonChain Mainnet Launching
WaltonChain Mainnet Launching and Beta Testing were announced. During the 3+ years since the launch of the fully operational Waltonchain Mainnet on April 24, 2019, the network has been operating in a stable way.
In order to stimulate independent development of NFT + DeFi DApps and attract more technology developers, miners (projects using the PoW consensus), and cryptocurrency holders along with enterprises, institutions, and organizations that need to adopt the blockchain technology, the Waltonchain technical team has completed a dual-chain upgrade, improved cross-chain data transmission and launches the beta testing of the second mainnet — WTA Smart Chain — on 4th Jan 2023.
Features of WTA Smart Chain
- Introduction of full-network hash power sharing for Waltonchain nodes and dual mining: on the condition of zero new energy consumption, a new blockchain running on PoW consensus is added. It also meets the tamper resistance requirements.
- In addition, contracts on Solidity 0.6 and higher are supported
- The difficulty calculating using the x11 hash algorithm
- Each transaction burns gas at the BaseFee price, slowly decreasing the total supply of WTA
- Block time: 4 seconds. Block reward: 1 token. Throughput: up to 95 TPS
- An additional 1/32 reward for finding an uncle block. One block can include up to 2 uncle blocks. This is equivalent to retaining a part of the wasted computing power.
WTA Token Distribution:
- Total supply: 500,000,000
- Pre-mining: 302,900,000 (61%)
- Swap of already mined tokens: 13,030,905
- PoS mining: 80,000,000.
- Token burn: 29,869,095 of which not less than 20,000,000 cumulatively burns from 2022 to 2027
- Ecosystem construction: 130,000,000
- Marketing & operations: 20,000,000
- Technology development: 20,000,000
- Team’s reserve: 10,000,000
- PoW mining: 197,100,000 (39%)
Moreover, in the first 4 years, 21,600 WTA will generate daily. Every 4 years, this number will decrease by 16%.
Furthermore, Waltonchain welcomes community users with a tech background to join the pre-launch beta testing from January 4th to February 28th, 2023. The WTA rewards received during this testing phase shall belong to the testers.
Provided that no major vulnerabilities are found, the operation of the WTA Smart Chain will start right after beta testing ends. Shall WTA Smart Chain require more upgrades Waltonchain will airdrop the swapped version of WTA rewards received during beta testing after the upgrade.
Waltonchain is the underlying public business ecochain. It resorts to RFID technology to create a unique combination of blockchain and the Internet of Things (IoT). On this ecochain, merchants can create customized child chains and monitor the production, logistics, warehousing, and retail circulation of all commodities.