Review on Wanchain by Azad Aliyev

This is my review about Wanchain.

Wanchain is a cross-blockchain infrastructure designed to facilitate asset transfer and custody dApps in the financial industry. From investment to banking to payment, etc., Wanchain hopes to use Wanchain's proprietary cryptocurrency Wancoin to replace traditional banking systems around the world with blockchain-based solutions.

Cryptocurrency is often regarded as a decentralized alternative to traditional banking. Wanchain is a project dedicated to making this a sustainable reality. For full disclosure, our Crypto Briefing CEO Han Kao is a consultant. It is part of a new type of blockchain that allows asset transfer between chains.

means supporting foreign exchange transfers outside the exchange, without intermediaries such as exchange houses and banks, and also supporting financial tools such as payment platforms and investment platforms. The

team connected Bitcoin and Ethereum in late 2018 and announced in March 2019 that EOS support will be released soon.

Companies like Bank of America and JP Morgan Chase provide consumers and businesses with a variety of financial tools. Regulators also need access to this information. The same is true for independent brokers and third-party providers and everyone else in the financial ecosystem.

Finance has a complete supply chain, and its mode of operation is very similar to that of other industries, except that the product is currency. Finance and insurance is a $1.45 trillion industry, accounting for 7.5% of the US GDP. In this country alone, Wanchain focuses on the Southeast Asian market.

About Wanchain

Wanchain was founded by Wanglu Tech, a Chinese company valued at 560 million U.S. dollars, founded by Factom co-founder and CTO Jack Lu. It is a fork of the Ethereum code, although it does not fork the blockchain, it is just code.

Wanchain joined the Blockchain Interoperability Alliance (IOA) in November 2017, with the aim of promoting the interconnection of various blockchain networks. Unlike most ICOs, you have met all the predetermined deadlines on the roadmap so far and are actively seeking more strategic partnerships. Recent

financial partnerships with Wanchain include Formosa Financial and Chainlink, the latter providing real-world Oracle data to the Wanchain network. This will greatly improve Wanchain's viability as a platform with cross-platform interoperability.

Before discussing whether this collaborative approach is feasible in the global market, let's take a look at Wanchain's proprietary cryptocurrency, Wancoin. The

Wanchain mainnet went live in January 2018. Wanchain 2.0 was launched in June 2018 and Wanchain 3.0 was launched in December 2018, moving the BTCETH bridge from the test network to production. Before January 2018, Wancoins existed on the Ethereum blockchain as ERC20 tokens. WAN is now its own cryptocurrency. The use of

WAN is similar to GAS in NEO network. It is used as a margin for cross-chain transactions and promotes tokenized transactions on the network.

Wanchain uses a modified PoS consensus algorithm to maintain the entire network using three verification nodes, thus sharing transaction costs paid to the network:

Coupons - Coupons maintain the margin for cross-chain transactions in exchange for providing a proof of original account and Wanchain Account. For example, if you deposit BTC, you will receive WAN at the exchange rate, and your BTC and WAN address will be stored on the voucher to record the transaction.

Verifier - Verifier earns part of transaction fee by recording transaction data in Wanchain digital ledger.

Merchant-Merchant holds a WAN balance and must meet the minimum WAN threshold to verify the transaction. If the minimum threshold is not reached, it can still be an online node, but not a verification node. Traders have key actions, which will be discussed in the next two sections. One of the coolest features of the

CryptoCurve wallet is its Nuke function, which can convert tokens into BTC, ETH, etc., and can be reversed into original currency. For many people who rely on centralized exchanges to "cash out" or exchange currencies, this is a game changer.

It is not too surprising that the keys used in typical blockchain transactions are divided and distributed to all Storemen on the Wanchain network. The funds are locked in the sender and recipient accounts until the transaction is verified, verified, and complete.

Think of it as the processing retention time when transferring money from your bank account to another bank or a service like PayPal. In addition to requiring 48 hours and up to five business days or more, Wanchain transfers can be completed in just a few minutes.

Think of it as a blockchain-based VPN. Wanchain's team is no stranger to cryptocurrencies and blockchain - they understand the conditions necessary to launch a successful ICO. That is why they are busy promoting more strategic partnerships and comprehensive cooperation. Looking ahead, Wanchain will establish itself as a blockchain worthy of attention.

It is not too surprising that the keys used in typical blockchain transactions are divided and distributed to all Storemen on the Wanchain network. The funds are locked in the sender and recipient accounts until the transaction is verified, verified, and complete.

Wanchain Summary

Wanchain aims to decentralize the financial industry by transferring all value and assets to the blockchain. Wanchain is a blockchain that connects other blockchains and uses agents to facilitate value transactions between them. It is working hard to integrate with all traditional banking systems and has been successful so far due to the following key factors:

Wanchain was originally an Ethereum ERC20 token, but is now an independent hard fork network.

Like Ethereum, Wanchain is a smart contract blockchain that hosts dApps. It specifically targets the financial industry.

Wanchain uses chain agents to connect other blockchains to facilitate fast and cheap asset transfers.

Wanchain Foundation and WANlab are actively working with small businesses and developers to create a thriving dApp community.