What Is Wanchain (WAN)?

What Is Wanchain (WAN)? Complete Guide Review About Wanchain.

What Is Wanchain (WAN)?

Wanchain is a public blockchain with support for the development of smart contracts using Solidity. This supports ring signature based private transactions and decentralized cross chain functionality. This has been building its cross-chain infrastructure since 2017. In early 2021, it launched the world’s 1st decentralized BTC-ETH direct bridge. There also offers decentralized bridges connecting Bitcoin, Ethereum, Ripple and EOS, with other chains such as Polkadot on the horizon.

All of Wanchain different cross-chain bridges are supported by unified decentralized collateral pools. This features two types of validator nodes. PoS validator nodes and Store man validator nodes. PoS validator nodes use a Proof-of-Stake to achieve decentralised consensus. Store man validator nodes perform and verify cross-chain transactions.

Wanchain Storage Key Points

Coin BasicInformation
Coin NameWanchain
Short NameWAN
Circulating Supply192,701,891.19 WAN
Total Supply192,701,891
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Official Project WebsiteClick Here To Visit Project Website

Vision – Making Cross-Chain DeFi a Reality

Wanchain vision is a world where assets can flow freely between blockchains without any centralized third party controlling the process. Network of decentralized Store man Nodes work together to manage the exchange of assets and information between blockchains without ever being able to take custody or direct control over the assets and information they interact with.

In this world, assets from different blockchain may easily mingle and interact with each other inside decentralized financial (DeFi) applications (DApps) on the same chain. After being used in a DeFi DApp, the assets may then be withdrawn back to its native blockchain or sent to a new blockchain to be used in a different DApp. In addition to assets, information will also be able to flow freely and securely between chains without a centralized third party.

This allows for powerful financial applications in which events on one blockchain can trigger events on another blockchain. For example, a user may use his BTC on Bitcoin as collateral in order to generate a loan of tokenized USD directly on Ethereum, and the entire process will be managed in a decentralized, permission less, and trustless way through the Store man Node network and the Wanchain blockchain.

Mainnet Launch

Wanchain launches an independent blockchain focused on developing the interoperability and privacy features which are prerequisites for the future of digital finance. Features private transactions and smart contracts at launch with work on interoperability features underway.

T-Bridge enables the exchanges of assets and data between public and private blockchains. Wanchain drives blockchain adoption through cross chain interoperability by building fully decentralised direct bridges that connect the world’s many siloed blockchain networks.

Wanchain Crosschain Bridge Types

Direct bridges require no intermediaries or relay network to complete cross chain transactions. When moving assets from one blockchain to another, the assets are transferred directly from the source chain to the destination chain.

Layer 2 bridges use decentralised liquidity pools to bridge assets between popular Ethereum Layer 2 networks like Polygon and Arbitrum. Assets do not need to pass through the Layer 1 blockchain, thereby preserving the Layer 2 network’s high transaction throughput and relatively low gas fees.

NFT Bridges

NFT bridges use the lock-mint-burn-unlock mechanism. When moving NFTs from one blockchain to another, the original NFT is securely locked on the source chain before a duplicate is minted on the destination chain. NFT IDs and attributes are also transferred. Wanchain decentralised blockchain interoperability network empowers developers to build truly decentralised cross chain applications to power the future of DeFi.

wanBridges enable trustless cross-chain transactions

Permission less wan Bridge mechanism enables trust less cross-chain transactions between any pair of blockchains. Cross-chain wan Bridges secured by trust less staking and delegation mechanism. Establish DeFi ecosystem which takes advantage of Wanchain cross-chain infrastructure. Through cross chain features, it is possible for any blockchain’s assets to be connected with and circulate. This includes assets from public, private, as well as consortium chains.