Wanchain’s vision is rebuilding financial services. Wanchain is a global financial platform that connects, and exchanges value between different blockchains. Wanchain is a ‘decentralized’ version of traditional banks in the current and future financial landscape.

Wanchain platform it is its own blockchain, and what it does is to link different chains, so you can quickly trade currency and other digital assets from one to the next. Wanchain is creating the next evolution of banks and a blockchain to rule all blockchains. Wanchain is ranked at number 34 on coin market cap with 106,152,493 circulating supply and Total supply of 210,000,000 WAN.

Wanchain is Ethereum, Ripple and Monero , all in one, and in a lot of ways. First of all, Wanchain is a hard-fork of Ethereum, but it will be Proof-Of-Stake implemented after mainnet launch, allowing it to scale better. Secondly, Wanchain is commonly labelled as the ‘Chinese Ripple’, however, Wanchain is much more decentralized than Ripple, truly representing what a ‘distributed’ super financial market should be like. And finally, Wanchain has Monero-style privacy features allowing the generation of new one-time addresses for each transaction, with ring signatures, keeping transactions private, and digital asset holders anonymous. Wanchain protocol seamlessly connects blockchain networks together, recording cross-chain and intra-chain transactions.

#1: What is Wanchain?

Wanchain is a type of blockchain technology aimed at creating financial markets for the constantly growing digital economy. Wanchain’s purpose is to build a new infrastructure for the digital economy. Wanchain connects and exchanges value between different blockchains in a distributed manner.
Wanchain aims to unite the world’s digital assets and transform the digital economy. It will connect existing major digital currency networks and asset exchanges in while allowing for secure and private transactions between parties. It also aims to be a bank of the future.

Wanchain implement cryptography into its protocol. Its distributed ledger records both intra-chain and cross-chain transactions. This means that any & all blockchains that integrate with Wanchain, whether they are public, private or consortium chains, are able to establish connections with different ledgers and transfer assets in a safe and private manner. Wanchain creates a distributed bank that facilitates transactions between different blockchains. Since Wanchain was forked from Ethereum, it retains a number of key features, like the ability to create & run smart contracts, enabling community developers to create more complicated applications.

#2: How Does It Work?

Wanchain is focused on connecting the various coins, tokens, and blockchains that currently make up the cryptocurrency ecosystem. The team behind the project will link digital assets by implementing cross-chain transfers across different blockchains and as an independent blockchain.
They essentially run the processes that deal with each transaction and confirm whether a transaction should go through or not. Wancoin will be the native coin on Wanchain. Each transaction will consume a certain amount of WAN so it will be necessary for the project to work. Anyone will be able to participate in the verification of a transaction and by doing so, they earn a piece of the transaction fee. If you hold over a certain threshold of WAN then you can run a verification node and earn WAN.

#3: Wanchain Mission

Wanchain’s long-term mission is ambitious. It aims to establish a distributed, digital-asset-based financial infrastructure which will allow institutions and individuals to run their own “virtual teller,” where service offerings such as loan origination, asset exchanges, credit payments and transaction settlements are based on digital assets.
Thanks to blockchain technology, Wanchain is decentralized and permits transactions without the need for trusted third parties. However, the platform’s core value comes from the fact that it can transfer assets using a decentralized cross-chain mechanism and protocol. Multiple blockchains will be connected for the purpose of transferring value across networks.
Wanchain not only serves as a link between blockchains; the platform will also function as its own internal blockchain with smart contract functionality, Turing completeness and privacy protection for all network transactions.

#4: WANCHAIN TEAM

Wanchain has been in development for 2 years now and has a world class team behind it. They have experience in successful crypto projects and know what it takes to deliver.
Wanchain has a big and impressive team. Jack Lu Founder of wanchain is a serial blockchain entrepreneur who co-founded a 300 million dollar project called Factom as well as a company called Wanglutech. He has served as a software architect at numerous companies including Hewlett-Packard and Xerox. Lu has over 20 years of work experience.
Wanchain not only has a lot of talent but they have a lot of people in general. Their team has a list of almost 50 names including advisors and these 50 people aren’t just names. Most of their team have tons of experience and evident talent. These guys are promising a lot but if there was ever a team that could do it, it’s these guys.

The team are not greedy. They didn't aim to raise hundreds of millions. They set a fair and realistic cap which therefore allows incredible returns for ICO investors or those who buy in the first few days of being listed on exchange. Wanchain's target market is huge. There are billions of unbanked people worldwide who could benefit from using Wanchain banking facilities.

#5: WANCHAIN PATNERSHIP

Wanchain is the first network in crypto to launch a smart contract platform with ring signatures and privacy protection. In their next software release they will add cross-chain transactions. They have a unique partnership with Kybernetwork which will power a decentralized exchange that offers deep liquidity as well as instant and private trading of protocol tokens such as Bitcoin, Litecoin and Monero.
Through this collaboration, we can expect greater cross-chain activities in the future, which will enable more innovative and novel applications of blockchain that pushes the technology frontier forward for the greater benefit of our society.”
Wanchain aims to be a more efficient distributed-asset trading network utilizing a framework similar to those used by traditional financial institutions, including companies involved with asset-backed securities. By capitalizing on Wanchain’s innovative infrastructure, individuals and businesses will be able to access a wider range of financial services, while maintaining greater control over their assets and asset appreciation strategies.

#6: CROWDFUNDING

Crowdfunding is another possible use for Wanchain. Wanchain’s backbone is its cross-chain communication protocol. The cross-chain data transmission module initiates the transaction request to Wanchain & acknowledges whether the validator node returns success or not. It also facilitates the legal transaction from the validator node to the original chain.

The status of the transaction is monitored by the transaction status query module. Validator nodes, are part of Wanchain’s Proof-of-Stake consensus algorithm and tasked with recording & verifying transactional data. Vouchers & Storemen are 2 types of verification nodes which are vital to maintaining the network, in return for portions of the transaction fee. Wanchain uses the locked account generation scheme to secure funds & keys. Storemen maintain & manage appropriate key shares of the locked account for transactions. Since locked accounts are generated through multi-party computations, Wanchain effectively increases decentralization.

It can easily interact with Wanchain without the need of new validators or transaction types. Its cross-chain communication protocol uses smart contracts to allow you to exchange assets to Wanchain & vice-versa. The exchanges are entirely private & take place in a decentralized manner. Wanchain’s native tokens are the Wancoin, or the WAN. A certain amount of WAN is consumed during a transaction. Whenever you make transactions, you will need to pay WAN security deposits to the cross-chain verification nodes.

#7: Scalability

This functionality of being able to hold, send, and receive all of your coins in one place is a huge step forward to solving the scalability problem in the blockchain space. This is being done on a small scale already by some exchanges and wallet,s but transactions are not instant. Wanchain is creating one universal all in one exchange wallet. Companies could start accepting cryptocurrencies as payment and all they would have to do is download the Wanchain wallet (that will hopefully come in app form eventually).

This functionality alone will be huge for cryptocurrencies and will change the way people see them. Coins become a real currency rather than simply a store of value or an investment choice. If Wanchain can truly deliver as they promise, this functionality alone could easily launch them into the top 10 on coinmarketcap.

#8: Wanchain Benefits

organizations can also benefit immensely from utilizing Wanchain's private chains. Think of how companies, hospitals, schools etc... have their own internets only for their internal employees. However, they can still access websites on the internet. This can be done on Wanchain as well. Wanchain is by far the best project to date from a regulatory standpoint.
Anyone who is familiar with securities laws knows that regulators mainly look at the project and what was done before and right after. When cryptocurrencies become regulated. Each project will be heavily scrutinized by regulators and many will be deemed securities. Some governments will not care, but surely countries like U.S, Canada, China etc... Will set explicit laws that prohibit their citizens from buying certain coins and exchanges from offering them. Sure, there will be decentralized exchanges and a lot of crypto projects will survive because naturally cryptos are censorship resistant. However, there will still be a need for a legitimate blockchain that is approved for investment and utility for retail and institutional investors.

#9: Similar project to wachain

Wanchain is not the first project of its kind. There are other platforms that want to bridge connections between blockchains for more efficient trading and exchanging of assets, but Wanchain offers some things that is new.
So lets jump in to some of projects that are similar to wanchain

ETHOS
So Ethos proposes an easy-to-use universal wallet and fiat gateway that makes buying, trading, and managing your crypto assets simple. It is going to use the universal wallet, which supports multiple tokens without any problems. and It is designed to store and transfer value of any form at no cost whenever possible. If you need to know more about ethos you can go and watch our 10 awesome things that you need to know about ethos video.

ICON
These platforms are a little similar, but only broadly. Both aim to connect different financial systems, but aside from that, they're very different. Wanchain is a platform for linking different blockchains and transmitting assets from one place to another, while ICON is a blockchain project that's supposed to link everything together – from banks to businesses and also to the government – so that any and all parties can interact securely without needing third-party networks. Wanchain wants to be used worldwide, while ICON is limited to South Korea only.

RIPPLE
While Wanchain is a service that is that wants to connect different blockchains for easy transactions between them, Ripple is a currency exchange that's supposed to allow for different assets to be exchanged quickly. They don't have much in common, except for the fact that they're based on decentralization as a core principle, so that the service works “on its own” without being managed by a central company or group of people. Wanchain is brand new while Ripple has been around since about 2012, with the third-highest valued coin in the crypto market.

#10: Privacy and Trust

Privacy is major advantage as Wanchain is one of the first blockchain projects to implement privacy within smart contracts. Its features include ring signatures & One Time Addresses. The signatures are necessary to verify the transaction and making it hard to determine the true originator of a transaction. Users can also optin to generate a new address with each transaction, making it harder to trace an individual’s transaction history. Institutions & individuals can take advantage of the platform’s distributed cross-chain transaction mechanism for cryptocurrency exchange services with privacy protection. Wanchain can be used for loans, investments & financing of digital assets. Wanchain also supports ICOs with multi-currency smart contracts. ICO tokens are automatically converted to real cryptocurrencies in a completely decentralized process.

Transaction Privacy Protection: Wanchain protocol provides the option to execute private transactions, similar to those provided on privacy coin platforms, based on one-time addresses and ring signatures. Wanchain also allows digital asset holders to remain anonymous on its protocol.

They think there’s a place for banks to play in this ecosystem. Although the bank’s primary job, is to hold your cash for you because you don’t want a million of dollars in your mattress. Their team is absolutely solid on paper but that doesn’t mean anything in this game. They have a lot of hard work in front of them and a ton to deliver on. Wanchain needs to be easy to use, good-looking, user-friendly, fast, secure… the list goes on and on. It will be a tricky plan to maneuver but they have assembled a team that is capable of doing it.

Financial institutions do all kinds of crazy and confusing securities and asset trading with US dollars. Wanchain gives them the ability to use cryptocurrencies as a true store of value in place of USD. Transactions would be Proof of Stake, fast, fraudless, universal, interest rates would be automatically calculated via smart contract, and they could use and accept any cryptocurrency they wish.

Do you agree with our list? Which Wanchain important things did we forget? Let us know in the comment section below and dont forget to like and subscribe for more great content as it does help cryptocurrency to go main stream.