{"id":21776,"date":"2022-07-05T19:04:41","date_gmt":"2022-07-05T18:04:41","guid":{"rendered":"http:\/\/bitcoinprbuzz.com\/?p=21776"},"modified":"2022-12-30T17:48:31","modified_gmt":"2022-12-30T17:48:31","slug":"wanchain-announces-successful-saturn-hard-fork-setting-deflationary-path-forward","status":"publish","type":"post","link":"https:\/\/wire.bitcoinprbuzz.com\/wanchain-announces-successful-saturn-hard-fork-setting-deflationary-path-forward\/","title":{"rendered":"Wanchain Announces Successful \u201cSaturn\u201d Hard Fork Setting Deflationary Path Forward"},"content":{"rendered":"
Press Release:<\/i><\/b> Wanchain has activated its fifth and latest hard fork upgrade, moving WAN closer to becoming a deflationary digital asset.\u00a0<\/span><\/i><\/p>\n <\/p>\n 5th July 2022, London<\/b> \u2013\u00a0 <\/span>Wanchain<\/span><\/a> has successfully launched its new Saturn hard fork, which introduced several network improvements and completely overhauled the network\u2019s fee market. The Saturn hard fork was activated at Block 21,454,700 at 06:47 am UTC on July 5th.\u00a0<\/span><\/p>\n <\/p>\n With the Saturn hard fork upgrade, each transaction on <\/span>Wanchain<\/span><\/a> will involve burning a base fee, which automatically decreases the WAN circulating supply – in a process similar to that of Ethereum\u2019s EIP-1559. Additionally, the Saturn hard fork upgrades Wanchain\u2019s EVM, making it fully compatible with the Ethereum London EVM.<\/span><\/p>\n \u00a0<\/span><\/p>\n The introduction of the EIP-1559 protocol makes major adjustments to the network\u2019s fee market and serves as a sustainable WAN burning mechanism. Now, every transaction includes a base fee that is burned, thereby reducing WAN circulating supply and adding deflationary pressure on WAN. The Saturn hard fork also introduces the concept of a \u201ctip,\u201d or priority fee, that users can choose to pay if they want their transactions to be prioritized by the network.<\/span><\/p>\n \u00a0<\/span><\/p>\n Saturn also upgrades Wanchain\u2019s EVM to be fully compatible with Ethereum\u2019s London EVM by supporting the latest EVM opcodes. This increased interoperability enables Solidity developers to more easily migrate their applications to <\/span>Wanchain<\/span><\/a>. For instance, as a result of Saturn, Ethereum-based tools such as MetaMask, Remix and Truffle are now fully compatible with Wanchain.<\/span><\/p>\n \u00a0<\/span><\/p>\n Saturn further adds support for new cryptographic hash functions, including SHA-3. Adding native support for SHA-3 offers performance and versatility benefits, and increases interoperability with projects using SHA-3.\u00a0<\/span><\/p>\n \u00a0<\/span><\/p>\n Saturn additionally adjusts the Wanchain gas limit per block to 50 million, which influences the number of transactions that can fit in a block. Wanchain\u2019s gas limit per block is now higher than Ethereum\u2019s, which is set to 30 million. As a sustainable PoS network, Wanchain achieves this without sacrificing the network\u2019s high transaction speed and low transaction fees.\u00a0<\/span><\/p>\n <\/p>\n The Saturn hard fork represents the biggest technological leap forward for Wanchain with numerous advancements in the protocol, with improved functionality, performance, and cost, as the company sets off on a deflationary path forward.\u00a0<\/span><\/p>\n <\/p>\n We are all connected \u2014 <\/span>Wanchain<\/span><\/a>, the Wide Area Network chain, is the world\u2019s premier decentralized blockchain interoperability solution. The company’s mission is to drive blockchain adoption through interoperability by building fully decentralized bridges that connect the world\u2019s many siloed blockchain networks. This cross-chain infrastructure empowers developers to build truly decentralized cross-chain applications to power the future of Web3.\u00a0<\/span><\/p>\n <\/p>\n Media Contact<\/b><\/p>\n Contact Name:<\/b> Temujin Louie<\/span><\/p>\n Contact Email:<\/b> temujin@wanchain.org<\/span><\/a><\/p>\n <\/p>\n Wanchain Socials<\/b><\/p>\n Twitter<\/span><\/a> | <\/span>Telegram<\/span><\/a> | <\/span>Medium<\/span><\/a>\u00a0\u00a0<\/span><\/p>\n <\/p>\n Wanchain is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.\u00a0<\/span><\/i><\/p>\n\n\n","protected":false},"excerpt":{"rendered":" Press Release: Wanchain has activated its fifth and latest hard fork upgrade, moving WAN closer to becoming a deflationary digital asset.\u00a0 5th July 2022, London \u2013\u00a0 Wanchain has successfully launched its new Saturn hard fork, which introduced several network improvements and completely overhauled the network\u2019s fee market. The Saturn hard fork was activated at […]<\/p>\n","protected":false},"author":2,"featured_media":21780,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","_jf_save_progress":"","_jet_sm_ready_style":"","_jet_sm_style":"","_jet_sm_controls_values":"","_jet_sm_fonts_collection":"","_jet_sm_fonts_links":""},"categories":[1672],"tags":[30,1931,1804],"yoast_head":"\nThe Saturn Hard Fork\u00a0<\/b><\/span><\/h2>\n
EIP-1559 Protocol to Increase Deflation<\/b><\/span><\/h2>\n
EVM Opcodes and SHA-3<\/b><\/span><\/h2>\n
Gas Limit Adjustment<\/b><\/span><\/h2>\n
About Wanchain<\/b><\/span><\/h2>\n