Wanchain (WAN)

The exchange rate of one WAN at 12:51 UTC is 0.2437$

Chart | Average rate

“Wanchain” is a decentralized blockchain interoperability solution that aims to drive blockchain adoption. The project aims to create decentralized bridges to connect different blockchain networks. With this cross-chain infrastructure, developers are empowered to create cross-chain dApps for the wider DeFi community.

Wanchain has been building its cross-chain infrastructure since 2017. The decentralized direct BTC-ETH bridge was launched in early 2021. Wanchain also offers decentralized bridges connecting Bitcoin, Ethereum, Ripple and EOS and plans to support other networks such as Polkadot. Cross-chain bridges of Wanchain are supported by joint decentralized collateral pools.

“WAN” is a native utility token in Wanchain that has the following use cases:

- Incentives for validators. Wanchain has two types of validator nodes: PoS validator nodes and Storeman validator nodes. PoS nodes use “proof-of-stake” to achieve decentralized consensus. Storeman nodes execute and verify cross-chain transactions.

- Staking. Token holders can also delegate their tokens to selected Storeman validator nodes to receive staking rewards.

- DeFi features. Users can participate in various DeFi dApps in the Wanchain ecosystem, including the Automated Market Maker (AMM), decentralized lending platform, lottery, and more.

Wanchain is a public blockchain with support for smart contract development using Solidity. Wanchain supports ring signature-based private transactions and decentralized cross-chain functionality. A developer can write smart contracts, create dApps, or issue fungible/non-fungible tokens on Wanchain.

Thanks to the cross-chain features of Wanchain, it is possible to connect any blockchain assets to Wanchain and distribute them on it. This includes assets from public, private as well as consortium chains.

The goal of Wanchain is to create a space where assets can move freely between blockchains without any centralized third party controlling the process. The Wanchain network of decentralized storage nodes work together to manage the exchange of assets and information between blockchains, never being able to store or directly control the assets and information they interact with. In this space, assets from different blockchains can easily mix and interact with each other inside decentralized financial (DeFi) applications (dApps) on the same chain.

Once used in a DeFi dApp, the assets can then be withdrawn back to its own blockchain or sent to a new blockchain for use in another dApp. In addition to assets, information will also be able to transfer freely and securely between chains without a centralized third party. This allows you to create powerful financial applications where events on one blockchain can trigger events on another blockchain. For example, a user can use their BTC on Bitcoin as collateral to get a tokenized USD loan directly on Ethereum, and the entire process will be managed in a decentralized, permissionless, trustless way through the Storeman node network and the Wanchain blockchain.