Wanchain

Wanchain (WAN) is a distributed ledger technology that aims to build a new financial market of digital assets by implementing cross-chain transfers across different blockchains. As an independent blockchain, Wanchain connects the accounts of independent chains, enabling not just currency transfers but also the creation of a wide range of financial applications through smart contracts, privacy protection protocols, and its native token, Wancoin (WAN). The platform’s primary goal is to facilitate interoperability and exchange between different cryptocurrencies in a decentralized manner, making it a cornerstone for building a myriad of financial applications.

• Total Supply:

• The total supply of WAN tokens is capped at 210,000,000 WAN.

• Circulating Supply:

• As of the latest data, the circulating supply is approximately 197,629,886 WAN.

• Usage:

• WAN tokens are used to pay for cross-chain verification node transactions, making them an integral part of the platform’s functionality.

As of today #{today’s date}, the price of Wanchain is ₹16.80 INR or 0.192 USD, with a 24-hour trading volume of 1613627.12 USD. The market capitalization for Wanchain is 38215147.58USD. The circulating supply is 198369435.57 Wanchain, with the total supply also being 198369435.57 Wanchain.

Pros:

• Interoperability:

• Wanchain facilitates transactions between different public and private blockchains, addressing the critical need for interoperability in the crypto space.

• Decentralization:

• It operates as a fully decentralized platform without needing a custodian to manage or confirm transactions.

• Security:

• Utilizes a locked account mechanism to secure and manage accounts, enhancing the platform’s security.

• Versatility:

• Supports many use cases, including DEXs, lending and borrowing platforms, and multi-currency payments.

• Partnerships:

• Part of the Blockchain Interoperability Alliance, alongside Aion and ICON, which could foster broader adoption and development.

Cons:

• Competition:

• Faces stiff competition from other interoperability projects like ICON and Aion.

• Market Position:

• Needs to expand beyond its primary market in China to establish a more robust global presence.

• Adoption Rate:

• The widespread adoption of cross-chain solutions is still in the early stages, which may affect short-term growth.

• Complexity:

• The technical complexity of cross-chain transactions may pose a barrier to entry for some users.

• Regulatory Risks:

• As with all crypto projects, regulatory changes could impact the platform’s operation and token value.

• Growing Need for Interoperability:

• The increasing number of blockchains creates a demand for interoperability solutions, which Wanchain addresses.

• Innovative Technology:

• Offers a unique approach to cross-chain transactions, setting it apart from competitors.

• Strong Community and Partnerships:

• Benefits from its association with the Blockchain Interoperability Alliance.

• Potential for Expansion:

• Has room to grow by expanding its ecosystem and entering new markets.

• Security Features:

• The platform’s focus on security and privacy could attract more users and developers.

• Cross-Chain Functionality:

• Enables direct transactions between disparate blockchains without needing a third party.

• Decentralized Finance (DeFi) Applications:

• Supports the creation of a wide range of DeFi applications, broadening its use case.

• Security and Privacy:

• Incorporates advanced security measures and privacy protection, enhancing user trust.

Wanchain addresses the fragmentation in the cryptocurrency market by enabling seamless and secure transactions between different blockchains, thus fostering a more interconnected and efficient digital asset ecosystem.

The Wanchain team is led by Jack Lu, who has a strong background in blockchain technology and entrepreneurship. The team comprises experts with diverse experiences in blockchain development, finance, and business.

The ICO for Wanchain ended on 4th October 2017, raising $35.99 million with an initial token price of $0.34. The funds raised aimed to develop the Wanchain ecosystem and facilitate its mission to enable cross-chain financial transactions.

• Competitive Market:

• The highly competitive interoperability segment could impact Wanchain’s market share.

• Adoption Challenges:

• Achieving widespread adoption across different blockchains can be challenging.

• Regulatory Uncertainty:

• Changes in regulatory landscapes could affect the platform’s operation and token value.

• Technical Risks:

• The complexity of cross-chain transactions may lead to technical challenges.

• Market Volatility:

• Cryptocurrency markets are highly volatile, which could lead to significant price fluctuations.

The Wanchain whitepaper outlines the project’s vision to rebuild finance by connecting different blockchains to enable private, cross-chain smart contract functionality. The core of Wanchain’s proposition is to address the lack of interoperability between the numerous blockchains, each with unique value propositions but isolated from one another. By facilitating the exchange of value and information between different blockchains, Wanchain aims to create a new distributed financial infrastructure to host a new world of financial applications.

Wanchain introduces a cross-chain transfer mechanism that allows for the decentralized exchange of assets between different blockchains. This is achieved through the use of smart contracts and a unique protocol that ensures secure and private transactions. The platform employs a locked account mechanism to secure assets during the transfer process, ensuring that transactions are confidential and tamper-proof.

The whitepaper details the technical architecture of Wanchain, which includes a consensus mechanism, cryptographic algorithms, and the cross-chain transaction protocol. The consensus mechanism is based on Proof of Stake (PoS), which ensures network security and transaction verification without the extensive energy consumption associated with Proof of Work (PoW) systems. The cryptographic algorithms employed by Wanchain safeguard the privacy of transactions, making it suitable for financial applications that require confidentiality.

One of the critical features of Wanchain is its support for multi-currency transactions. This allows users to perform transactions across different blockchains using various cryptocurrencies without the need to rely on centralized exchanges. This reduces the risk associated with centralized platforms and opens up new possibilities for financial applications such as decentralized exchanges, multi-currency payment systems, and cross-chain lending platforms.

The whitepaper also discusses Wanchain's governance model, which is designed to be transparent and community-driven. The governance system allows WAN token holders to participate in decision-making processes, ensuring that the platform's development aligns with its users' interests.

In conclusion, the Wanchain whitepaper presents a comprehensive vision for a decentralized financial system that leverages blockchain interoperability to create a more efficient and inclusive financial ecosystem. By enabling secure, private, and cross-chain transactions, Wanchain aims to overcome the limitations of existing blockchains and pave the way for a new era of financial applications that can operate across different blockchains seamlessly.