Wanchain Staking – Beta Testnet Live and TPS Increased to 1000+

Published by wanchain on

The beta testnet for Wanchain Proof of Stake has been released along with three new Wanchain products

Wanchain’s Staking beta testnet has officially launched today, June 26th, 2019, as part of the journey toward a full transition from Proof of Work to Proof of Stake!

The beta release features a number of exciting developments:

1) PoS upgrade — Major performance boost
First, the original PoW-based test network is transitioning to PoS. This lays the foundation for the team to eventually switch the consensus mechanism on the main network. The beta version of the testnet has doubled the speed of block production, which means that the transaction throughput of the entire network has doubled, marking a giant step forward in performance. We will see staggering increases in TPS upon mainnet launch versus current performance, as our lab results have shown upwards of 3000 TPS and our private network is showing 1000+ TPS.

See this link for the validator beta testing instructions:

PoS Beta Testing: How to Register and Run a Wanchain Validator Node
Detailed instructions on testing Wanchain’s Proof of Stake beta testnetmedium.com

2) New Testnet PoS-enabled Light Desktop Wallet (Link) — WARNING — This is still a testnet wallet. Do not send any mainnet tokens to this address.

Remember how fun it was syncing the full node on your Wanchain desktop wallet? No more! We’re very excited to introduce our all new desktop light wallet — Wan Wallet — with a modern, minimalist design and fast load time. In addition to the universal token transfer of our previous wallet releases, the new light wallet also provides an interface for PoS delegation (currently limited to the testnet).

  • The new light wallet can be used with all functions available before switching from POW to POS, PoS delegation feature works with existing validator nodes (They are already up and running but not participating in POS consensus protocol, since the switch from POW to POS didn’t occur yet).

3) Major blockchain explorer update (Link)

The blockchain explorer has undergone a major overhaul. In addition to an updated design, the new explorer now includes a wide range of PoS related statistics including information about validator nodes, delegators, stake amount, delegation fees, and more.

  • Note the Testnet Explorer and WanStats won’t reflect POS related features until switch from PoW to PoS is effective.

4) WAN Stats platform (Link)

The new WAN Stats platform makes it easy for users to obtain a detailed overview of the entire network and staking data. Through the platform, users can visually monitor the status of all validator nodes.

Learn more about Galaxy Consensus in our Deep Dive series:

Part 1: General Overview
Part 2: Random Number Generation
Part 3: Leader Selection Algorithms
Part 4: Delegation Mechanism
Part 5: Economic Incentives

About Wanchain

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).

You can find more information about Wanchain on our website. Additionally, you can reach us through Telegram, Discord, Medium, Twitter, and Reddit. You can also sign up for our monthly email newsletter here.