An In-depth Review of The Products offered By Wanchain interoperable Blockchain

We are currently experiencing an explosive growth in the number and kinds of blockchains being developed day in day out!

It has come to my notice that we have as many blockchains as are cryptocurrencies! It is also painful to realize that most and if not all these many blockchains cannot work together!

There is always a need for a centralized exchange in order for two blockchains to communicate(transfer assets!).
In this article, I will be showcasing the products and services offered by Wancahin technology.

The problem of many blockchains being individually isolated will be solved by Wanchain that will enable all of them to work together!

I know how this sounds unclear at the moment, but it is going to be made possible soon.

I will spend a lot of time explaining the importance of interoperability as it is the core philosophy of Wanchain Blockchain.

It will be a success for me if I am able to make you understand why we need blockchain interoperability which is being offered by Wanchain.

As is stated above, many blockchains are working independently and not communicating with others. It has to be noted( i have no proof, but i use the number of cryptos) that many people are creating new blockchains monthly!

If this trend of creating new blockchains continues it means that there will be an increased wider disconnect among them.

It is at this point that Wanchain wants to connect these digital assets so that they can work together.

In this well-explained article by the Mr. Jack Lu CEO of Wanchain he says,

The future of the distributed internet is dependent on the ability of blockchain networks to recognize and interact with one another. The concept of decentralization and blockchain interoperability are closely related. Interoperability is the ability to freely share information across all blockchain networks.

In that post he states something that I echo with, every new blockchain has its own ecosystem and consensus models(DPOS, POW, POS).

I strongly advise you to read this article as it vividly explains the Wanchain philosophy and it was the CEO who wrote the post(the vision bearer!)

He continues below

Our mission is to connect the world’s digital assets, unleashing the full potential of cryptocurrency and blockchain technology by allowing applications built on Wanchain to provide access to digital assets sitting on different blockchains. In the exact same way that today’s banks can provide access to almost all global currencies.

Source

I will again share the link to the article by the CEO so that you can check it out as he explained how Wanchain works in a way even a non crypto or blockchain enthusiast can understand.

I believe you have grasped the concept of Wanchain and I am now free to continue to show you the services/products offered.

1. Wan Wallet

This is the first core product that will enable users to store the Wan token and all other crypto assets all in one wallet!

The wallet will be having two provisions of transferring assets(private and public).
It has to be noted that Wan Wallet already supports cross-chain transactions with Ethereum!

The support for more crptos and storage on hardware wallets like Trezor will be enabled in the near future.

You can download the wallets by visiting the website.The Wan 2.0 wallet currently supports all the major Computer operating systems,Linux, Windows and MacOS.

You can read more on how to configure the wallets here

2.Cross Chain Abilities

As the word says,cross-chain! The vision of Wanchain is to connect different blockchains so that they can work together.

There will be a wide range of real-world day to day scenarios that will be solved by Wanchain like.

• Decentralized cryptocurrency exchanges
• Multi-asset investment and financing
• Decentralized loans
• Multi-coin payments and settlements

You can clearly see in this attached image the whole scenario well described.

The Wanchain blockchain technology will enable developers to come up with decentralized exchanges that can work on any blockchain .

In summary, there will be an easy flow of digital assets from one once isolated blockchain to another once isolated blockchain!

3.Wan Smart Contracts

I will start by giving a layman's definition of a smart contract.
It is an agreement between two parties(buyer and seller) without the need of a middleman.
The contract is enforced through computer code!

The simplest version of a smart contract is when you are transacting on Localbitcoins which is a peer to peer crytpo exchange.
The buyer and seller enter a contract and the bitcoins are kept in an escrow and only released when the two parties have confirmed payment and agreed to terms.

Smart contracts avoid the problems caused by middlemen and the transaction is done so fast!
It will be possible to deploy smart contracts on the Wan Blockchain just as in Ethereum.

You can read more here on how to deploy a smart contract on Wanchain

4. Wanchain Explorer.

It must be known by now that all blockchains have their own independent explorers where you can track the blockchain transactions.
The beauty with the Wanchain explorer is that it can track cross chain transactions.

It can track date, fees, block heights, amounts, and much more information.

5. Command Line Tools

As I said previously Wanchain aims to connect all blockchains so it is logical that they make CLI available to the public.

This has been made available to developers who would want to develop on top of the Wanchain Blockchain.

You can find the Wanchain CLI here

I believe these products above will have a great impact on the blockchain industry.I would advise you again to check this post by the CEO of Wanchain where he explains the concept very well.

You can read more about the Wanchain Project below.

Project Website: https://wanchain.org/

Products & Services: https://wanchain.org/product

Documents: http://www.wanchaindocs.org/en/latest/

Facebook: https://www.facebook.com/wanchainfoundation/

Medium: https://medium.com/wanchain-foundation

Telegram: https://t.me/WanchainANN

Love

Jarau Moses