In just four years, crypto exchange WhiteBIT has made significant strides and numerous accomplishments. It has become the most successful cryptocurrency platform in Europe, underpinned by a robust and efficient ecosystem. But what visionary wouldn't dream of establishing their own blockchain network?
We are thrilled and proud to announce a remarkable milestone for WhiteBIT as they officially roll out their own blockchain, the WB Network! It has been meticulously audited by Hacken and has earned the highest commendations.
The launch of this blockchain represents the culmination of an extensive and meticulous preparation process, which included:
- Rolling out their native WhiteBIT Token (WBT)
- Bringing to life a testnet for the future network
- Organizing an airdrop
A special nod must be given to the WhiteBIT community for its invaluable role in the conception and launch of the WB Network. The platform's primary objective is to engineer technology that finds active application in the real-world economy. Hence, they invited users to partake in network testing and rewarded their efforts.
As part of the airdrop conditions, participants were assigned tasks in the testnet and on the Zealy platform. Additionally, the organizers considered factors such as activity on the exchange, use of other products within the WhiteBIT ecosystem, the lifespan of the account, possession of exchange NFTs, and even the HODLing of WBT tokens.
100,000 WBT were proportionally distributed among the participants of the airdrop, based on their task completion results. They are now eligible to claim their rewards.
What should you know about WB Network?
WB Network is a blockchain based on Geth (Go-Ethereum), leveraging a Proof-of-Authority (PoA) consensus algorithm. This unique approach employs entrusted nodes as validators, guaranteeing unparalleled stability and a secure infrastructure for the network.
The introduction of the WB Network also signifies a transformation for their WhiteBIT Token. It's stepping up, evolving into WhiteBIT Coin, a full-fledged cryptocurrency, operating on its very own L1 blockchain!
If you're a WhiteBIT Token holder, rest easy. Your WBT coins are as secure as ever in your account, and the ticker remains unchanged.
The WB Network blockchain boasts several remarkable features, with one of the standout offerings being the WB Soul ecosystem. This system, already well-known to those who participated in the airdrop, is a distinctive technology crafted by WhiteBIT. It's designed to safely represent a user's identity within the blockchain realm without the need of sharing personal data. This groundbreaking achievement is made possible through the utilization of two key elements:
- Soul attributes: These are dynamic characteristics that encompass various aspects, such as the status of KYC verification or the quantity of WBT held by the user.
- Soulbound tokens: These tokens are unchangeable aspects of the WB Soul, linked to a specific address, and not transferable or sellable. They embody the unique qualities and accomplishments associated with the WB Soul.
Benefits of the WB Network
- Faster transactions.
- Reduced fees.
- Souldrop, a redistribution program for the WB Network's fees and funds (you can delve deeper into it in the WB Network Whitepaper).
- WhiteBIT Launchpad enables users with a certain amount of WBT Holding to discover new crypto projects before they emerge on the market, vote for them, and participate in their token sales.
- A portion of the WBT from the ecosystem fund is allocated to support forward-thinking projects that are bringing their solutions to life on the WB Network.
Since the very inception of our exchange, we committed to each other: if we take on something, we'll see it through to the highest level possible, because settling for anything less wouldn't make sense. Now, four years later, we are thrilled to announce the launch of the WB Network, and as a team, we couldn't be more pleased with the outcome. The original concept was to build a rock-solid infrastructure for visionary blockchain developers and crypto enthusiasts. Essentially, we aimed to hand our best work over to the crypto community, while also stimulating the birth of fresh blockchain ideas. That's essentially why we've all rallied here. For the users of WhiteBIT, this paves the way to a new level of using the exchange and uncovers new avenues for working with decentralized tech. As for us, it's the launch pad for producing an even broader spectrum of expansive products and services,shared WhiteBIT CEO Volodymyr Nosov.
