Announcement on WTA Smart Chain Mainnet Beta Testing & Launch

Waltonchain_EN
3 min readDec 28, 2022

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 second mainnet — WTA Smart Chain — on 4th Jan, 2023.

Features of WTA Smart Chain:

  1. Introduction of full-network hash power sharing for Waltonchain nodes and dual mining: on condition of zero new energy consumption, a new blockchain running on PoW consensus is added. It meets the tamper resistance requirements;
  2. Contracts on Solidity 0.6 and higher are supported;
  3. Difficulty is calculated using the x11 hash algorithm;
  4. Each transaction burns gas at the BaseFee price, slowly decreasing the total supply of WTA;
  5. Block time: 4 seconds. Block reward: 1 token. Throughput: up to 95 TPS;
  6. An additional 1/32 reward is given 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:

  1. Total supply: 500,000,000
  2. Pre-mining: 302,900,000 (61%)

a) swap of already mined tokens: 13,030,905

b) PoS mining: 80,000,000.

c) token burn: 29,869,095 of which not less than 20,000,000 cumulatively will be burned from 2022 to 2027

d) ecosystem construction: 130,000,000

e) marketing & operations: 20,000,000

f) technology development: 20,000,000

g) team’s reserve: 10,000,000

3. PoW mining: 197,100,000 (39%)

In the first 4 years, 21,600 WTA will be generated daily. Every 4 years, this number will decrease by 16%.

Out of security considerations, the launch will be carried out in two phases:

Phase 1, Internal deployment and debugging: In December 2022

Phase 2, Public mining:

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, operation of 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.

WTA Smart Chain Launch Timeline:

Happy New Year to dear all WTC supporters!

Notes:

1. Currently, KIRINMINER owners don’t need to do anything;

2. To ensure the safety of your assets, we ask all users to follow official announcements only. DO NOT trust any unofficial sources;

3. Waltonchain Team and our community admins will not contact you first in private messages/email regarding any information of your assets. Please stay alert to fraud/scam attempts!

Waltonchain Team

December 28, 2022

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