August 3, 2023

5 min

WhiteBIT ecosystem

Meet Our Own Blockchain: WB Network

The launch of WB Network is a huge step, as it opens up many opportunities for us and our large community. Thanks to this, users have received many innovative solutions in a transparent infrastructure.

Almost a year ago, we presented the Road map and our own cryptocurrency, WhiteBIT Token (WBT). This year, our users already had the opportunity to try the WB Network Testnet as well as take part in the retrodrop in honor of the launch of the WB Network. The participants had to complete simple tasks to win a reward. In the end, 100,000 WBTs were distributed among 17,500 participants. We constantly hold activities for the community as our goal is to implement the active use of blockchain technology in the real sector of the economy.

What’s so special about WB Network?

First of all, it uses the Proof-of-Authority (PoA) consensus algorithm. This means that its stable and secure infrastructure is provided exclusively by trusted nodes that act as validators. Find more information about the blockchain here.

WhiteBIT Coin (WBT) has become the main asset of the network. It was previously known as WhiteBIT Token (WBT), but it obviously received a promotion. Thanks to the WB Network, WhiteBIT users can enjoy even more benefits, including WB Soul Ecosystem.

What is WB Soul Ecosystem?

This idea of our developers was inspired by Vitalik Buterin’s article “Decentralized Society: Finding Web3’s Soul”. The ecosystem allows users to recreate their own identity in the blockchain environment by making their own WB Soul. Each WB Soul has its own attributes and Soulbound tokens. The first are the characteristics that can be changed. For example, the amount of WBT in Holding. However, the latter are the qualities that are unchangeable, they cannot be sold or transferred. You can learn more about WB Soul Ecosystem here.

Such an ecosystem has many potential uses. Users can already receive unique rewards in the form of SBT. For example, the Testnet participants have recently received their SBTs from the EarlyBird collection. And it’s only the beginning!

SoulDrop

This is a reward redistribution system for those users who have WBT in Holding. The rewards are credited every 30 days depending on the level and amount of WBT in Holding. They are only available to users who have NOT hidden their HoldAmount in the WB Soul settings. You can learn more about the conditions of this activity on the WB Network website.

Plus…

• Part of the WBT funds were transferred from the Tron network to our blockchain through burning and minting.
• Thanks to the recently announced WhiteBIT Launchpad, users with a certain level of WBT in Holding will be able to learn about new projects before they enter the market, vote to decide if they should appear on the exchange, and participate in their sales rounds.
• Those projects that will bring their ideas to life using WB Network will have a chance to be financed from the ecosystem fund.

The release of WB Network is an important event for the WhiteBIT team and the entire crypto community. Thanks to our own blockchain, we have created a stable infrastructure for new crypto ideas and opened up new opportunities for interactions with decentralized technologies. And there’s more to come!