Wanchain - The reconstruction of the financial system

roseri (68)in #wanchain • 6 years ago (edited)

Digital currencies have had a great social impact in recent years. Every day more companies emerge that become innovative thanks to the Blockchain industry, generating an almost constant news cycle that increases the interest in the cryptographic business exponentially.

Most of the active investors in cryptographic businesses have a wide portfolio of cryptocurrencies. Although this is beneficial because it allows them to generate different sources of investment, it can also be cumbersome to have a series of portfolios for each digital currency, which prevents them from spending their assets in a simple way without so many exchange processes. Since cryptocurrencies can not be exchanged directly.

Currently, to be able to dispose of our digital assets, it is necessary to go through different exchanges that generate losses due to the high commissions for each transaction.

I can cite a simple example for a better understanding. I work for a South African company that pays my work in dollars with Paypal, to dispose of my money, it is a bit challenging and annoying, since I have to carry out several exchange transactions in which they charge me commissions. To withdraw my money, PayPal charges me $ 8, the PayPal exchange platform to Bitcoin has a very high price, then I make the change to the currency of my country to transfer them to my usual bank account; Which also generates another percentage of commissions. I lose between 15 and 20 dollars to be able to have my money. I would like to have a system where you can exchange any currency with a single transaction easily and safely without so many intermediaries.

If all the block chains could communicate with each other, it would be an innovation to the digital economy and the solution to a big problem.

Wanchain tries to solve this problem by basing its proposal on "Intelligent contracts of private cross chains".

What is Wanchain?

Wanchain is a distributed financial platform that allows the execution of private and intelligent cross-contracts. Its mission is to rebuild the financial services industry focusing on an infrastructure that serves as fuel for the future digital market. Wanchain uses its own network, which gives it a significant advantage over other platforms. Wancoin is the cryptocurrency that serves as the engine of the network.

Smart WAN contracts

You can implement smart contracts in Wanchain as well as with Ethereum. One of the unique features of Wanchain is the ability to issue a new token with privacy protection in mind. Wanchain

New generation of block chain.

What are the cross-blockchains? It is a new technology of exchanges that occurs without following the hierarchical channels, that is, without the need to trust a third person. With this system, it is intended, through an intelligent contract, to unite isolated digital assets among themselves, allowing the exchange of tokens and assets between block chains.

The main idea of this infrastructure is that financial services based on different digital assets can be carried out in a distributed manner, finally forming a financial market composed of different business providers, application developers and customers.

CROSS-CHAIN ABILITIES. WHY CROSS-CHAIN?

Scalability for disparate blockchains like ETH/BTC

Dapps are able to take advantage of interoperability

Real-world scenarios based on cross-chain technology:

Multi-asset investment and financing

Decentralized loans

Multi-coin payments and settlements

Decentralized cryptocurrency exchange. Wanchain

The vision of WANCHAIN.

Wanchain will provide financial services such as origination of loans, asset exchanges, credit payments and settlement of transactions based on digital assets, to all blockchain clients in a secure and open manner, where they can establish their own commercial window.

Digital economy

Wanchain will take the digital economy to other levels, where it can be an economy accessible to all without centralized limitations.

Digitalization of Assets

These digital assets now operate in the domain of 0s, 1s, Moore's Law and the exponential scale. The impacts on the financial services industry will be profound.

New opportunities

Traditional banks will have to adapt to this new digital economy infrastructure in order to have large increases in their income. Wanchain aims to change the economic world with this system.

Financial infrastructure

Wanchain connects these assets and allows the development of banking applications that guide their flows in the chain, eliminating the centralized counterpart risk. Wanchain

Characteristics of Wanchain.

If we study a little the whitepaper, we will find the essential characteristics of this project.

Private transactions through ring signatures.

The stamp signature provides complete anonymity to the signer of a transaction and, nevertheless, gives the recipient the ability to verify correctly that the sender has signed the transaction. Wanchain

The stamp signature provides complete anonymity to the signer of a transaction and, nevertheless, gives the recipient the ability to verify correctly that the sender has signed the transaction.
Because it is a system based on ethereum, it has assumed the functionality through intelligent contracts.
Your cross-technology system allows you to convert a digital asset from any blockchain into a corresponding proxy asset in the Wanchain.
Decentralized exchange.
ICO Platform.
Functional extensibility; Exchange of several digital currencies, offering deposit services, loans.
A distributed financial infrastructure that seamlessly connects blockchain networks together.

One of the most outstanding characteristics of Wanchain is the interoperability between several blockchain, that is, so that different chains of blocks that do not belong to the same network can communicate.

It also has the WanLab department that aims to incubate and promote projects within the Wanchain network. Currently, new projects related to blokchain technology have been presented within the Wanchain.

Wachanin has the WAN wallet that can be used to store your WAN and other tokens. Merchants can move assets with a private or public transaction. Wan Wallet now supports cross-chain transactions with Ethereum and will accept more cryptocurrencies in future releases.

Wanchain explorer.

Wanchain offers the block explorer that serves as a mechanism to monitor all transactions to enable any information, from checking balances, dates, rates, blockages of heights to quantities. Admitting transactions in cross chains.