Place/Date: China - June 26th, 2019 at 3:46 pm UTC · 3 min read
Contact: Wanchain, Source: Wanchain
The global cross-blockchain solution, Wanchain has officially launched their Galaxy PoS beta testnet, a significant step in the platform’s transformation from Proof of Work (PoW) to Proof of Stake (PoS). At the same time, the platform is announcing three new products that will radically reshape the Wanchain experience.
Wanchain’s original PoW-based test network officially made the transition to PoS. Ultimately, Wanchain’s main network will adopt this PoS consensus algorithm, which imbues many benefits for its users.
For instance, the beta testnet has already doubled the speed of block production and is expected TPS to be well over 1,000 when the mainnet launches.
The PoS consensus model uses Galaxy Consensus: an efficient, secure, and practical Proof of Stake consensus protocol that was proposed by Wanchain’s research and development team.
Wanchain CEO, Jack Lu said:
“Our team is very excited to release the beta testnet phase of our shift to Proof of Stake consensus. We look forward to working hand-in-hand with the many validators and staking services that are joining us for this testing period. We have some of the industry’s top companies hosting Wanchain nodes and can’t thank all of our validators for their strong support and feedback throughout our market research feedback and preparation process leading up to today. We look forward to releasing mainnet staking in the very near future!”
Along with the launch of the PoS testnet, Wanchain releases several new products or updates to its users.
First, a new PoS-enabled desktop light wallet – Wan Wallet – introduces an entirely new, minimalist design that also runs faster than previous products. With the PoS-enabled light wallet, users no longer need to sync full nodes on their desktop wallet. What’s more, this service includes the universal token transfer of previous releases, and it provides an interface for the PoS testnet delegation.
Meanwhile, the Wanchain blockchain explorer has undergone a major overhaul. Not only has this product received an updated design, but it includes numerous PoS-related statistics, including information about validator nodes, delegators, stake amount, delegation fees, and more.
To accompany Wanchain’s push to provide users with more information about their blockchain interactions, it is also introducing the new WAN Stats Platform, which makes it even easier for users to review an overview of the entire network and staking data, allowing them to quickly and easily monitor their status of all validator nodes.
Since releasing Wanchain 1.0 in January 2018, the platform has continually implemented new improvements to bring the best experience to the decentralized community. With these releases, a refreshed aesthetic meets new functionality that will enhance the Wanchain by making it faster and more capable at every level.
Wanchain is the infrastructure connecting the decentralized financial world. Wanchain’s live cross-blockchain solution is EVM-based, includes optional private transactions, and provides a decentralized, permissionless, and secure approach for interoperability. Wanchain has employees globally with teams in Beijing (China), Austin (USA), London (UK), Kuala Lumpur (Malaysia), Paris (France), and Madrid (Spain).
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