Bandchain launches Wengchan testnet, a cosmos based blockchain
By Inkarias - 2020-02-21
Band Protocol, the first decentralized community-oriented oracle solution to be created in the cryptosphere is glad to officially announce to the community the first testnet launch of BandChain Phase 0 the next iteration of Band with the codename of Wenchang. Band Protocol connects smart contracts with trusted off-chain information, provided through community-curated oracle data providers. Blockchains are enabled to connect to any web API with assured data integrity through dPoS economic incentives through one simple function call. While working closely with some of the best blockchain projects in the space, it’s essential to listen and garner valuable feedback on the protocol. Band Protocol will cycle through multiple iterations by continuously making improvements to create the optimal data query layer for all decentralized web 3.0 applications.
This current iteration marks the alpha release of Band Protocol’s independent Cosmos-based blockchain for data requests and payments called BandChain. The core team of the project is releasing the first testnet of phase 0 that will support token-relative basic mechanics such as token transfers, staking and slashing for malicious actors. In Wenchang, the network will primarily support token-related activities, including token transfer, staking, and slashing for malicious block validators and their delegators.
How to participate in the tesnet
In order to participate in this new release and the testnet, few steps are required. The first is to install BandChain binaries, including bandd and bandcli. This guide works on Ubuntu 18.04 OS. It is also necessary to get Golang version 1.13 and other utility commands onto the machine. The second important step is to create an official BandChain account with an associated address prefixed by “Band”. Finally, developers wishing to take part in this new system should be running BandChain node as a Validator after initializing the environment with the proper genesis file and add a persistent peer.More details on this testnet at https://bandprotocol.com/