Wanchain Launches Mainnet and WAN Staking, Among Other Things
Infrastructure alt coins used to be the shit. Ethereum clearly was the King of said shit. On January 15, 2018, ETH approached $1400 at its all-time high. Today it trades for $188. That's an 87% decline for those of you keeping score at home. With that as context, it should be easily understandable for rational token holders that other infrastructure alt coins would suffer a similar fate. But, alas, this is Crypto Land, where unfortunately rationality gets checked at the gates.
Wanchain (WAN) was at one point the hottest infrastructure coin. This basket of coins includes ZIL, AION, ICON, TRX, NEO, and many other tokens. These ideas were particularly hot investments in the 2017-18 meltup. After almost a year of waiting since its ICO, WAN debuted on Binance and rocketed up the CMC charts during the bull trap run of mid-2018. The price of WAN peaked at around $9.32 on May 3, 2018 and, like pretty much every single other alt coin in the world, has gone down ever since. It's current price of around $0.38 represents a drop of 96% from its all-time high.
Of course, these returns are not that good, but if you look at those returns in ETH terms, it's probably about as good as we can expect. After all, at its base, Wanchain is a fork of Ethereum. Expecting it to do much different in terms of price during its first year of development is probably a little insane. Developers have to develop stuff in order for things to get done in the blockchain world. And that takes time. Over that time, the WAN public blockchain code base will become different than the ETH codebase, which also provides a basis for their coin prices to diverge.
One thing I can guarantee you about Wanchain is that they have developers. Lots of them. How do I know? Because I've been to their office in Beijing, where most of the square footage is dedicated to developers pounding energy drinks, eating salty snacks, and pecking away at their keyboards. Here's a picture of the fuel the company uses to power its army of developers:
The results you can see in all that they've released this month, all of which you can read about in a Medium post from Wanchain's Director of Marketing Dan Reecer:
That kind of product explosion takes time and concerted effort across all of the global Wanchain offices located in Beijing, Austin, KL and Madrid.
Probably the most exciting aspect of the Wanchain mainnet going live is that the WAN staking features activate along with its launch. Most seasoned crypto readers are probably familiar with the PoW v. PoS wars that have raged for the past few years. In my personal opinion, Bitcoin and a few other use-case specific blockchains should remain Proof-of-Work, but most other blockchains, especially those that prioritize Turing completeness and/or transaction speed (as most finance-oriented ones like Wanchain require), will have to go the route of Proof-of-Stake. It's just the best way to scale. Moreover, in our coming NegativLand of global interest rates, buying up these kind of PoS assets are pretty much our only hope of getting yield.
To me, I'm most excited about the implementation of WAN's innovative Galaxy consensus mechanism, which should go live any day now. Those that are technically inclined can read the research paper here.
For those of us that just want to earn some extra tokens, you will be excited to know that Wanchain's new "Desktop Light" version of its wallet supports staking and makes it easy as pie. You can download it on the revamped website here.
Check it out:
It's a beautiful mechanism to delegate WAN to validators. I'm still diving into exactly what all this means but those that are interested in learning more about staking with WAN can look here and here for more information.
Basically, at this point, it looks like staking WAN will provide a decent return for your investment between 10% and 15%. To me, that's well worth looking into, especially in these uncertain times!
If people are interested in learning more about WAN and its new staking capability, please post your questions below and I will make sure the team gets them. I'll write another post with the answers as soon as I can get them.
Happy Monday, everyone!
PEACE ✌🏼
Wanchain is a sleeping giant, the market is great at getting it wrong all the time and wanchain at 0.2 cents was a great example of this. The opportunity it presents is once in a lifetime.
cool, thanks
I’ll be looking into ATOM soon. That’s another interesting staking opportunity.
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thanks, i like the ones you can stake, i seem to buy and forget i have them, except for steem as its in my face all the time lol
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Very interesting blockchain project you've reviewed here and trust that I am already interested in looking into its staking opportunity, I do wonder how the return rates will be though, but its worth checking out. I know that very soon, staking will be much of a bigger deal than what it is now and the blockchains that will lead will be the ones that can offer staking with the best returns, fully scalable, energy effecient, secure and useable, again I think of Steem blockchain.
Thank you for using the realityhubs tag, your review simplified the entire process with your idea and unique opinion, we look forward to your next review.
Realityhubs Mod
The important thing to remember with any staking returns is that the % returns are never in fiat and only in terms of the token that is staked.
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Thank you so much for participating in the Partiko Delegation Plan Round 1! We really appreciate your support! As part of the delegation benefits, we just gave you a 3.00% upvote! Together, let’s change the world!
Another an interesting project for me. Really something new for me and it's great you're sharing this review on Realityhubs.
Thank you for your contribution.
Regards,
@anggreklestari
[Realityhubs Curator]
The stuff that is being built on Wanchain is very interesting. Plus, interoperability (the main focus of WAN) is the key to blockchain utility!
What is the main use case(s) for Wanchain? What projects are competing with it in that/those use case(s)? These are useful things to know before making any investment (time or money) in new projects. Thx!
WAN is all about defi. Interoperability is key in that regard, so Cosmos is probably it's biggest competitor.