WANCHAIN - Integrating Blockchain Technology By Implementing Blockchain Interoperability.

xpency (63)in #wanchain • 6 years ago (edited)

Those that got into cryptocurrencies in 2017, witnessed a high level of volatility in the market, some left after losing most of their funds to either trading or investing in ICOs (Initial Coin Offerings), while some stayed to fully understand the market and also learn the technology behind it. A lot of cryptocurrency projects have failed after their ICOs, most of them could not last up to 4 months. Majority of the project developers were into tokenization for their selfish benefit, but those that have intentions to modify or integrate the technology are still relevant today with a working prototype.

Whether good or fake coins, the fall in price of bitcoin has lead to a fall in price of coins and tokens to an all time low, a bulk of them have gone below their ICO prices, majority are gone (Dead) being unable to keep up with the market. Some project's social media pages are now dormant, no press releases, no blog posts and no implementation of Roadmaps by developers, lack of use cases are the main problems faced by majority of these blockchain projects.

Wanchain is a project with a blockchain network, capable of independent operations with the aim of creating financial infrastructure & services with the use of digital assets and cryptocurrencies has been functional since 2016, the project had a successful ICO and has gradually been working towards their Roadmap. The blockchain platform has made cross-chain transfers possible, where assets of different blockchain accounts can be linked together creating an environment for cross-chain transactions and interconnecting multiple digital assets.

The Wanchain team is not new, the team comprises of members with experiences in building blockchain projects, with great software engineers, developers and advisors who have developed a working project "Factom" that surprised people with their success. Wanchain's project team has announced a project they have been working on in order to improve their platform, below are some ideas implemented on the blockchain project.

Wanchain Integrates With Trust Wallet.

Wanchain has been using the WanWallet which has an iOS version of Portal Network wallet, this Portal wallet has features that support the sending and receiving of the wanchain native tokens (WAN). Recently, Wanchain partnered with the Trust Wallet, to support the wanchain tokens.
The Trust Wallet is similar to the imtoken wallet and other Ethereum wallets that are secure for various cryptocurrencies and are compatible for ERC tokens ( ERC20/ERC223/ERC721). Binance exchange acquired Trust Wallet on July 31, 2018. This idea was to get all listed tokens on the exchange to use a secure and trustworthy wallet. The wallet is available in both Android and iOS versions, downloadable on smart phones to help users with easy access to their digital assets.

The Wanchain token holders who use the Trust wallet will be able to resolve issue that arises from the sending and receiving of the Wan tokens. Adding of Wan tokens and transfer of tokens from Binance to Trust wallet will be seamless and secure, because only the user has permission to the Trust Wallet.

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Joining Hyperledger To Focus on Blockchain Interoperability

Wanchain has joined hands with the Linux Foundation in a Hyperledger open source collaboration, the Linux Foundation consist of high profile leaders in banking, Internet of Things, manufacturing, supply chain, finance and technology for the advancement of cross industry blockchain technologies.
Hyperledger provides interoperability in situations where different ledger systems require aid with the transfer of value from one ledger to the other (distributed or non-distributed) through the Interledger protocol (ILP). However, the Interledger protocol serves payment purposes with the Quilt project, Wanchain aims to use it's cross-chain technology to disrupt the enterprise blockchain into the public blockchain world.

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Blockchain Interoperability

Ever since Satoshi's vision in 2009 that introduced Bitcoin and Blockchain, other blockchain projects have emerged, introducing different consensus models, ecosystem and community. The truth behind this technology is how the idea of decentralization is misused, leading to a diverse interpretation of Blockchain Technology.
With the use of Blockchain Interoperability, Wanchain wants to bring all these varieties of blockchain ideas together, where information can be freely shared across one blockchain network and another. The interoperable functionality will be usable by other blockchain projects, in order to erase all third parties like exchanges, middle men, and give them direct access to other blockchain networks in their own platforms.
The whole idea of INTEROPERABILITY is very simple, having a platform that renders financial services like lending, borrowing and trading in a decentralized peer-2-peer manner with either Bitcoin, Ethereum, Dash, Litecoin and Wancoin, all in one platform.

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Conclusion.

Wanchain is building something extraordinary, the idea of Hyperledger and Blockchain Interoperability is what the internet has been waiting for, the transfer and storage of data, payment, smart contract and other services of blockchain technology will be available on one platform. This will allow different blockchain technologies to interact with one another. Involving the Ethereum Smart Contract technology gives the Wanchain Blockchain a more diverse way of operation, where cross-chain and privacy will be more secured and transactions will be seamless.

The Wanchain team and developers are also keeping up to their Roadmap, fulfilling all promised projects and inspiring every user of Wanchain and holders of Wan tokens.

Useful Wanchain Links:

Project Website: https://wanchain.org/
Products & Services: https://wanchain.org/product
Whitepaper: https://wanchain.org/files/Wanchain-Whitepaper-EN-version.pdf
Yellowpaper: https://wanchain.org/files/Wanchain-Yellowpaper-EN-version.pdf
Commercialpaper: https://wanchain.org/files/Wanchain-Commercial-Whitepaper-EN-version.pdf
Documents: http://www.wanchaindocs.org/en/latest/
Facebook: https://www.facebook.com/wanchainfoundation/
Medium: https://medium.com/wanchain-foundation
Telegram: https://t.me/WanchainANN

Disclaimer:

The information contained within this post shall not be taken as a financial advice. I am not a financial advisor and none of your investment decisions should be carried out based on any information presented here. You can lose all of your money by investing. The information presented in this article is for educational and entertainment purposes only.