Review on Wanchain by Huseyn Akberov

If you want to know where to buy Wanchain, the top exchanges currently traded on Wanchain are Binance, Huobi Global, BKEX, KuCoin, and Pionex. You can find the others listed on our encrypted exchange page.

What is WAN?

Wanchain is a distributed ledger that enables cross-chain transactions and cross-chain interoperability. Although Wanchain facilitates cross-blockchain transactions, it is also an independent blockchain that runs autonomously. The protocol acts as a distributed ledger to process and maintain cross-chain transaction records.

transactions on Wanchain not only occur between different public blockchains, but also between private chains. As a fork of Ethereum (ETH), Wanchain enjoys some of the features of the Ethereum blockchain. The protocol handles applications securely and autonomously through smart contracts. Wanchain use cases include decentralized exchanges (DEX), lending platforms, stablecoins, crowdfunding, multi-currency payments and settlements. The

platform is completely decentralized and does not require a custodian to manage or confirm transactions. Unlike other cross-chain systems, Wanchain does not rely on third-party platforms to verify transactions. The account lock mechanism is used to protect and manage accounts on the network and eliminate third-party interference.

Who is the founder of Wanchain?

Wanchain was founded by Jack Lu in 2017 and is headquartered in Beijing, China and Austin, Texas.

founder and CEO Jack Lu is an entrepreneur and technical expert interested in blockchain. Before joining Wanchain, he served as the co-founder and CTO of Factom in 2014. Lu also founded Wanglutech, a blockchain protocol focused on data warehouse certificates and digital assets.

Li Ni, vice president of operations, computer scientist, has more than 15 years of experience in the technology industry. He also has experience in marketing, business development and sales. He worked at ZTE Corporation, SuperMap Software, and Delta Electronics.

Zhang Weijia, vice president of engineering, engineer and R&D expert, has extensive experience in the fields of software modeling, blockchain, and cognitive science. He served as chief software engineer at Dell for many years. Mr. Zhang has more than 20 technical patents applied for and granted. Chapter

What Makes Wanchain Different?

Wanchain tries to create a broader market for digital assets by establishing connections between several independent chains. The platform has been able to develop a series of applications through smart contracts, security systems and its own currency (WAN).

Most cross-chain transactions are completed through third-party platforms. Wanchain's uniqueness is its decentralization. The platform uses multi-party calculation and main management account threshold secret exchange technology.

The platform has three main cross-chain functions. One of these functions is the registration module. It also has a cross-chain transaction data transmission module and a transaction status query module. From the beginning to the end of the connection, all three components are involved. Projects similar to Wanchain include Ripple (XRP) and ICON (ICX).

How many WAN coins are in circulation? The native token WAN of the

platform is used for on-chain governance and payment. The total amount of tokens sold during the initial coin offering (ICO) was 107,100,000, which was worth about 120,000 ETH at the time. The maximum supply is 210,000,000 WAN, and the circulating supply as of March 2021.

is 169,028,581 WAN. 39% of the total supply of WAN tokens has been allocated to project founders, 51% is allocated to investors, and 10% is allocated to airdrops and rewards. WAN is used for transactions within the main chain and between chains.

How is the Wanchain network protected?

WAN is a branch of Ethereum and uses Proof of Stake (PoS). Wainchain issued ERC20 WAN tokens to all ICO participants. When the mainnet went live in 2018, the ERC20 token was adapted to the Wanchain native chain. The

platform verification nodes are divided into Vouchers (verify cross-chain transactions), Warehouses (manage blocked accounts), and Validators (conduct regular verification). Nodes must compromise the WAN before they can verify transactions on the network. The locked account is created using password encryption.

Where's the WAN?

WAN tokens can be purchased on exchanges, for example:

Binance

KuCoin

Huobi Global

Verifiers can also receive WAN as a reward for verifying transactions.

Read our full guide to learn more about buying Bitcoin (BTC) and other cryptocurrencies.

What Is Unique About the Protocol?

In most cases, third parties are used for cross-chain transactions. However, with Wanchain that is different. It is unique in the way it is decentralized using threshold secret-sharing tech and multi-party computing to handle accounts independently. Wanchain boasts of three main cross-chain features. The first one is the registration module, followed by the cross-chain transaction data transmission module and the transaction status query module. These three features are employed from the start to the finish of a transaction connection.

Another unique aspect of the Wanchain is its Wanchain’s Storeman node system that uses the combination of atomic swaps, decentralized account management, secure multiparty computation, and threshold secret sharing to provide cross-chain solutions.

Token Wanchain: A good investment?

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Initially, Wanchain's token was an ERC20 token called Wancoins, and then switched to WAN after the protocol was migrated to its blockchain in January 2018. WAN functions include payment and governance processes. The mainnet agreement was launched in January. Prior to the release of version 3.0 in December 2018, versions 2018 and 2.0 were subsequently released in December 2018. As of May 21, 2021, the agreement is version 5.0.

sold approximately 107.1 million tokens during the ICO, and more than 120,000 ETH soared. The sold tokens accounted for approximately 51% of the total supply, 60% of the funds raised were used for development and research, and the other 10% was used for marketing, daily operations, community development and infrastructure.