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Austria based and European regulated crypto & securities broker platform
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ESG (Environmental, Social, and Governance) regulations for crypto assets aim to address their environmental impact (e.g., energy-intensive mining), promote transparency, and ensure ethical governance practices to align the crypto industry with broader sustainability and societal goals. These regulations encourage compliance with standards that mitigate risks and foster trust in digital assets.
Name | Bitpanda Asset Management GmbH, Bitpanda GmbH |
Relevant legal entity identifier | 9845005X9B7N610K0093, 5493007WZ7IFULIL8G21 |
Name of the crypto-asset | Wanchain |
Consensus Mechanism | Wanchain employs a hybrid consensus mechanism known as Galaxy Consensus, which combines Proof of Stake (PoS) and Byzantine Fault Tolerance (BFT) elements, with a focus on security, decentralization, and scalability. The consensus model is built around a randomized leader selection process and a delegation mechanism that ensures fair participation from validators. Key Features of Galaxy Consensus: 1. Proof of Stake (PoS): Validator Selection: Validators are selected based on their staking power (WAN tokens), which determines their ability to propose and validate blocks. Delegation Mechanism: Smaller WAN holders can delegate their tokens to larger validators, allowing them to participate in the consensus process and share in the rewards. 2. Epochs and Slots: Time is divided into epochs and slots, with each epoch consisting of multiple slots. Each slot represents the time period in which a block is produced. Validators take turns producing blocks in their allocated slots. 3. Leader Selection: Random Number Proposer (RNP) Group: RNP group validators generate random numbers that are used to select the Epoch Leader (EL) group for each slot. The random number generation process ensures fairness in leader selection. Epoch Leaders: EL group members are responsible for proposing blocks. They are selected based on the random number generated by the RNP group, ensuring a decentralized and fair distribution of block production. 4. Key Generation and Block Production: The process of block production is secured by the Distributed Key Generation (DKG) method and secret message arrays (SMA). These ensure that only selected leaders can propose blocks, while all other nodes can verify the block validity. 5. Finalization and Cross-Chain Compatibility: Blocks produced by the EL group are finalized with a proof of validity signed by each participant. The use of BFT ensures that Wanchain remains secure even with malicious actors or network partitions. The blocks are connected through a decentralized chain structure, ensuring interoperability with different blockchains and the integrity of the entire network. |
Incentive Mechanisms and Applicable Fees | Wanchain’s incentive mechanism ensures active participation in its consensus process, rewarding validators, delegators, and Epoch Leaders (ELs) for securing and operating the network. Incentive Mechanism: 1. Validator Rewards: Block Rewards: Validators earn WAN tokens for proposing and validating blocks, based on their stake and delegation. Transaction Fees: Validators also receive fees for processing transactions, incentivizing efficient block production. 2. Delegation: Token Delegation: WAN holders can delegate tokens to validators and earn a share of block rewards and transaction fees, enabling smaller holders to participate without running a node. 3. Epoch Leader Incentives: Block Production: Epoch Leaders, responsible for producing blocks, earn rewards for successfully finalizing and adding blocks to the blockchain. Applicable Fees: 1. Transaction Fees: Fee Distribution: Fees are paid in WAN tokens for processing transactions and are shared with validators. These fees vary depending on network activity and transaction complexity. 2. Staking and Delegation Fees: Delegation Fees: Validators may charge a small fee on rewards earned by delegators, incentivizing them to stake with trusted validators. 3. Cross-Chain Transaction Fees: Interoperability Fees: Fees are charged for cross-chain transactions to ensure smooth asset transfers between blockchains. |
Beginning of the period | 2024-09-09 |
End of the period | 2025-09-09 |
Energy consumption | 13140.00000 (kWh/a) |