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Flourish Titilope (Abesther) photo
Ibadan
3 Level
97 Review
16 Karma

Review on Wanchain by Flourish Titilope (Abesther)

Revainrating 4 out of 5

Wanchain- relates with several crypto tokens and blockchain wallets.

Wanchain provides developers with an affordable infrastructure for building super financial applications that span multiple blockchains and communities. Wanchain is the world's leading decentralized blockchain interoperability solution. Our mission is to promote the adoption of blockchain through interoperability by building a fully decentralized bridge that connects many different blockchains in the world. This cross-chain infrastructure enables developers to build truly decentralized cross-chain applications to promote the future of DeFi. Wanchain builds a decentralized bridge to connect these different blockchain networks to help the blockchain realize its potential to change the world. The main difference of the chain chain lies in the cross-chain technology and data protection function. It is a branch of Ethereum, so it also has smart contract functions. They currently have their own data protection functions for WAN transactions and plan to implement data protection for all Internet transactions in the near future. The Schain mechanism is used to block funds on each corresponding blockchain and generate proxy tokens in a packaged form on Wanchain for use in the Wanchain ecosystem. For example, 100 ETH is bound to the Ethereum blockchain through a smart contract, and then a packaged 100 ETH is generated. In Wanchain in Wanchain (WETH).Then these WETH can be exchanged for WBTC (Wanchainwrapped BTC) DEX for Wanchain. If a user or dApp wants to exchange original tokens on their own blockchain (such as Ethereum or Bitcoin), a smart contract will be executed to release the blocked tokens.

Pros
  • Easy to use.
  • Very competitive.
Cons
  • No transparency

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