Review on Wanchain by Fanuel PORPORTY
Crypto for inter-blockchain transfers
Wanchain is creating a new financial market in the field of digital assets by implementing inter-chain transfers between the different blockchains. With the number of currencies, tokens and blockchains currently present in the ecosystem, there is currently no effective and decentralized way to exchange values between them. As an independent blockchain, Wanchain links the accounts of independent chains to provide a framework for trading these assets.
The platform is not just for currency transfers. With smart contracts, privacy protocols, and the native Wancoin token (WAN), among other things, you can use Wanchain to create a myriad of financial applications.
Wanchain aims to decentralize the financial industry through smart cross-chain contracts. Using this technology, businesses can create blockchain applications for domain names in: Borrowing and Loans, Payments and Settlements, Transactions and Exchanges, Investment and Financing, and more than a handful of other financial services.
Although this is a difficult project, the team has a proven track record, which should give investors confidence that they can carry it out. With the main network already in production, Wanchain is ahead of most other blockchain projects.
Pros
- Attempt to create a means of inter-blockchain communication.
- Almost anonymous smart contracts.
- Willingness to create a decentralized bank.
- Transaction verification consensus that can work without requiring the presence of all parties.
Cons
- The distribution of tokens during the ICO is questionable. The team owns 20% and the Wanchain foundation also. This only makes 60% of the tokens for users.
- Other older projects are also trying to allow cross-chain transactions.
