At block 503 888, (January 12), another crypto-currency was separated from bitcoin. The new fork was called World Bitcoin (WBTC). And if the goal of other hard forks is to develop new functions designed to overcome the limitations of bitcoin, WBTC will focus, according to the website, on building a "global application infrastructure". This is reported by Bitcoin.com.
The total amount of WBTC will be 2.121 billion, of which 21 million will remain under the control of the WBTC Foundation, which will use them for marketing, building a global ecosystem and developing new functions. Bitcoin holders can receive WBTC in a ratio of 1 BTC: 100 WBTC.
According to official website, these are the milestones of the new coin for the nearest future:
- 2018.06 Establish gamification ecological chain
- 2018.09 Establish copyright ecological chain
- 2019.03 Establish the content distribution ecological chain
- 2019.07 Establish blockchain digital e-commerce chain
- 2019.12 Establish blockchain network card (CTID)
The World Bitcoin team stated that one of its advisors is Sean Zou, president of Xunlei Ltd. (NASDAQ: XNET). Xunlei itself issued an official statement on Monday saying that Sean Tsu is not related to the WBTC, noting that investors should take a more responsible approach to their work, instead of blindly believing rumors.
The project code is available on GitHub, one WBTC support in purses has not yet been implemented.