- WhiteBIT Exchange unveiled the core WB Network with some new features.
- WBT has been given the status of a coin and its holders get additional preferences.
WhiteBIT Cryptocurrency Exchange announced the launch of the core blockchain WB Network. Platform representatives told Incrypted.
The company emphasized that for users, the mainnet release primarily means lower fees, faster transaction processing speeds and additional innovative solutions.
WhiteBIT unveiled a roadmap for the project in 2022. The platform launched a blockchain testnet in April 2023.
Already in May, the Bitfinex exchange announced that it intends to add support for the native token WBT. As a reminder, Incrypted has a WhiteBIT testnet walkthrough guide.
“The launch of the testnet and retrodrop (rewarding users for activity) emphasizes the community’s role in the development of the WB Network, as the goal of this project is to actively apply the technology to the real economy. For this purpose, the exchange team implements a number of incentive programs – a system for distributing commissions and awards, grants for ambitious projects and much more,” the press release stated.
The mainnet is based on the Proof-of-Authority (PoA) consensus mechanism. In this concept, trusted parties act as validators, which ensures the reliability of the infrastructure.
The Geth (Go-Ethereum) client-based network has been developed. The native coin of the network is WhiteBIT Coin (WBT). WB Network was audited by Hacken before launching. More details in the blockchain Whitepaper.
In conjunction with the mainnet launch, blockchain users gained access to the WB Soul feature. It’s an identifier that allows you to create a digital identity using attributes and Soulbound tokens while maintaining anonymity.
Holders of such accounts will be eligible for the Souldrop program. It provides for the redistribution of commissions to reward individual WBT holders.
WhiteBIT Launchpad is now available on the exchange’s website. Here coin holders with the appropriate level can learn more about new projects of the platform.
“From the first day of the exchange’s operation, we promised each other that if we take on something, we must finish it at the highest level, otherwise it makes no sense. And now, four years later, we are launching WB Network, and as a team we are very happy with the result,” – WhiteBIT founder and CEO Vladimir Nosov.