An investment in Wanchain (WAN) Could Pay Big In The Longterm. Here’s Why – Thu Jul 19

Wanchain is developing a new market of digital assets by implementing cross-chain transfers across different blockchains. It proffers an efficient decentralized way to exchange value between coins, tokens, and blockchains

Wan has the capabilities of Ethereum and More

As a fork of Ethereum, Wan can offer pretty much anything the ethereum platform can and more. Though the Wan token is not an ERC20 token, the Wan platform offers smart contracts. Wan also supports interoperability with other platforms—this is a major aspect of the protocol. It has a strong privacy feature to protect senders and receivers on the platform. This is through the use of ring signatures. Besides features inherited from ethereum, Wan is combining the best features from other cryptos like Moreno.

Interoperability through Smart Contracts

By facilitating cross-chain communications, Wan is addressing a big deficiency in the financial industry. To achieve interoperability and effective communications across blockchains, Wanchain uses the capabilities smart contract.

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Decentralized Exchanges are the Future

Decentralized platforms are soon taking over; decentralized exchanges are quickly phasing out centralized exchanges. Centralized exchanges have major limitations ranging from regulatory roadblocks to cyber-attacks.

Wan offers Privacy and Fungibility

Wan blockchain is big on privacy; it is noted for its privacy features like the ring signature, one-time addresses and private send. Ring signature provides complete anonymity to the signer of a transaction; the optional One Time Addresses (OTA) offers true privacy for the receiver of every transaction; and the private send further encrypts the transaction amount.

Wanchain connects with other blockchains without any change of code. When it connects with blockchains with no privacy features, users can use their coins on Wanchain’s DEX or send them through its ring signatures.

Decentralized Apps (DApps) on the WAN Blockchain.

There are growing interesting currently running on the WAN blockchain including tourism network uTour, media platform AllSpark, financial service protocol Abacus, and Gamebank. Others include; CryptoCurve and Freedium. These DApps make us of decentralization on the WAN blockchain to deliver their services.

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For instance, CryptoCurve offers a decentralized exchange portal alongside its Curve Wallet which focuses on interoperability. It supports ICO staking, ICO investing, ICO pooling, portfolio tracking, and a fiat gateway.

Abacus and Freedium offer financial solutions. Whereas Abacus facilitates financial agreements through smart contracts on the WAN blockchain, Freedium wants to foster financial inclusion in developing and emerging economies through its commodity backed stablecoin on the blockchain.

SUMMARY

There are certain features of WAN blockchain that makes a great prospect; especially if its ambitious goals are actualized.

  • Wanachain want to link all future assets;
  • It wants to offer a Multi-asset—most likely through its cross-chain protocol.
  • It is an ICO platform like Ethereum
  • Enable cross-chain Dapps
  • Enhance privacy through use of ring signatures
  • Offer crypto payment solutions and settlements
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Wanchain Price Watch

Wanchain (WAN) is currently trading at $3.51 with a market cap of $372 million (no. 41 on CoinMarketCap). It peaked at $9.74 in early May but has since lost much of its gains as most cryptocurrencies went in red.

The application of Wan should see its price rise to surpass its past ATH. It is ideal for cross-chain transactions and has the capability to extend privacy features to coins that don’t have it natively implemented.


2 COMMENTS

  1. How about scalability? Ethereum couldn’t scale upto the demand and create a second offline chain which I’m not a fan of.

    • Wanchain uses the Proof of Stake concept which is good for scalability. The team says they are in partnership with researchers working on better scaling options. They could also adopt Bitcoin’s Lightening Networks technology (or sidechains).

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