What is Wanchain (WAN)?

Wanchain (WAN) is a platform that provides tools for the financial sector in the digital market. It has been built on Blockchain technology that has the same function as a bank that allows people to automatically deposit and withdraw funds on the platform while providing financial-related services such as loans, exchange assets and make credit payments based on virtual currencies by implementing cross-chain protocols (It is a protocol connecting networks, allowing cross-communication between blockchain platforms, for example, it is possible to buy Bitcoin with Ethererum and vice versa).

WAN Coin is the main virtual currency in the platform to be paid for purchases or transactions in Wanchain, such as paying fees for transactions on Wanchain and cross-chain transactions or deposits to ensure the cross-chain transactions were performed well.

Features of Wanchain

Basically, Wanchain is not only a global chain-through protocol, but also a ledger that records transactions between people in the chain. This ledger not only supports smart contracts but also protects privacy.

Some of Wanchain’s core features include:

Decentralized Cross-Chain Mechanism: Wanchain supports cross-border transactions of public key chains (such as bitcoin and Ethereum). Wancoin also supports cross-chain transactions, or between public and affiliate chains.

Global Multi-Chain Protocol: Wanchain’s chain protocols provide information about requirements and confirmations for cross-chain transactions made. Community developers can create independent wallets and setup chains according to their application requirements.

Privacy protection: Wanchain and homochains support privacy protection based on smart contract assets. Wanchain protects the privacy of transactions through the use of ring signatures and one-time addresses in smart contracts.

Support for complex applications: Wanchain supports more complex applications through the use of platform-specific smart contracts and protocols. Some suggested complex applications include applications that use multiple currencies. Developers can also create more complex applications based on connections between public or private chains or corporations and public chains.

Team

  • Jack Lu: (Founder CEO) Graduated from Peking University and Ohio State University. He is Blockchain entrepreneur and technical expert.
  • Li Ni: Vice president of business development
  • Oliver Birch: VP of Communications
  • Zhang: Technical vice president
  • Dynal Patel: Product vice president
  • Scott Trowbridge: Director of global business development
  • Dan Reecer: Global marketing director
  • Ali Harawala: Product manager
  • Ying Zhang: Director of infrastructure development
  • James Zhu: Technical Director
  • Gabriel Guo: Director of application development

Advisory group

  • David A. Johnston: Chairman of the Board at Factom, Inc.
  • Albert Ching: The founder of i-Sprint
  • Marvin Zhang: President of the S-League
  • Rongge Li: Partner of River Capital
  • Lan Ramble: President of the North American Blockchain Association (NABA)
  • Gang Wu: Founder of Bixin
  • Binsheng Wang: Professor of CASS Adviser of Blockchain General Development
  • Organization
  • Zhong Chen: Director of Information Security Laboratory, Peking University

Conclusion

Wanchain is a pioneering and potentially breakthrough project with the goal of becoming a financial market of the world. Although achieving its lofty goals will require more work, Wanchain still follows its roadmap than some projects.

Because Wanchain is addressing the entire financial market, it has several competitors. Most notable are Fusion, Pantos, Ark and Qash; some may even consider big players to prefer Ripple, Stellar and Ethereum rivals. On the positive side, Wanchain has a strong basic background. Their great interest in ICOs shows strong confidence of investors and groups with successful achievements.

You can check WAN price here.

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