China News by Thebittimes.Com

Justin Sun-advised wrapped bitcoin (WBTC) has relaunched on Sun-founded TRON; however, the new product has seen zero adoption, and the abandoned old version still has approximately 100 WBTC tokens. The “Transparency” page on WBTC’s website labels BTC on TRON as a “New” product using the smart contract at TYhWwKpw43ENFWBTGpzLHn3882f2au7SMi. This contract was deployed several months ago on July 23. However, the novelty of the product is questionable. WBTC launched on the TRON blockchain early in 2021. What happened to WBTC on TRON? Read more: Justin Sun-advised HTX has redeemed 7,300 WBTC it did not disclose Shortly after Sun was added as an advisor to the project, this version of WBTC on TRON was removed from the WBTC website. However, the smart contract for this version, at TXpw8XeWYeTUd4quDskoUqeQPowRh4jY65, shows that it still has a total supply of nearly 100 WBTC, presumably corresponding to 100 BTC held in the reserves for thi...

What is a Testnet? The Blockchain Playground Explained! In the world of blockchain, innovation is constant. But before a new idea, feature, or application goes live on a mainnet, it must first be tested — rigorously and securely. That’s where Testnets come in.  What Exactly is a Testnet? A Testnet (short for test network) is a blockchain environment that replicates the real blockchain (mainnet) but uses valueless tokens and operates independently. It allows developers, users, and projects to experiment with blockchain functionalities without any risk to real funds. Think of it as a sandbox — a safe space where smart contracts can be deployed, bugs can be identified, and upgrades can be trialed before reaching a live environment. Why Testnets Matter Risk-Free Testing : Mistakes on the mainnet can cost millions. Testnets provide a cost-free environment to test contracts and transactions without real-world consequences. Accelerating Innovation : Developers can try new protocols, dApps,...