Wanchain Mainnet Switch to PoS Completed!
At 11:11:03 am on September 2, 2019, Beijing time, UTC+8, the Wanchain mainnet consensus mechanism successfully made the switch to the new Galaxy Proof of Stake consensus mechanism at block number 4,046,000.
In accordance with the specifications of Galaxy Consensus, validator nodes which have completed the switch to PoS today will be able to determine whether they are selected on September 3rd (the second epoch), and if selected, they will take part on September 4th (that is, the third epoch), as a member of the Epoch Leader or Random Number Proposer groups involved in consensus related work. The first rewards will be distributed on September 5th (the fourth epoch).
About Galaxy Consensus
Galaxy Consensus is a practical proof of stake consensus protocol originally proposed by the Wanchain research team based on a variety of cryptographic techniques. The mechanism is provably safe and includes a complete delegation mechanism and economic incentives model. The Galaxy Consensus prototype was announced on March 31, the Alpha version went live on May 18, followed by the Beta version on July 1st.
The Wanchain products which are compatible with the Galaxy Consensus include the new Wan Wallet desktop light wallet and mobile light wallet, the Wanscan.org blockchain explorer, and the Wanstats.io node statistics tracking platform.
Participants can verify the stake and delegations of nodes at any time, and WAN can be delegated to any active nodes.
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), Kuala Lumpur (Malaysia), and Madrid (Spain).
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