Wanchain (WAN) was founded in 2017 as a blockchain platform that enables cross-chain interoperability between different blockchain networks, thus allowing for frictionless asset and data flow. Wanchain intends to offer a decentralized, interoperable platform that will find its application in many different DeFi applications, cross-chain functionalities, and enterprise use cases by bridging the gap between isolated blockchains.
The developer pictureed a “blockchain for blockchains” that would interconnect siloed networks to allow for cross-chain transactions and interoperability. The project seeks to bridge the gap between disparate blockchain systems and increase the usefulness of digital assets. The WAN token is Wanchain’s native cryptocurrency employed for paying transaction fees, staking, and voting in its decentralized ecosystem.
Wanchain was founded by Jack Lu and Oliver Birch. Lu, at Wanchain, is the founder and chief executive officer who had a vision for a decentralized network of blockchains that could unleash the full value of digital assets. He brought to Wanchain profound experience in blockchain technology and software engineering that helped drive its development. Birch played a pivotal role in expanding Wanchain’s partnerships and ecosystem toward enterprise sector adoption. Their shared objective is to build a safe and interoperable infrastructure for innovation and collaboration in the blockchain space.
Wanchain is designed with advanced technology that makes cross-chain functionality smooth and easy. Wanchain’s decentralized bridges allow for the transfer of assets across major blockchains, including Ethereum, Bitcoin, and Binance Smart Chain. Wanchain’s Secure Multiparty Computation (sMPC) technology ensures that cross-chain transactions are secure, private, and trustless, minimizing vulnerabilities.
The platform uses a Proof-of-Stake (PoS) consensus mechanism to secure the network and incentivize validators in cross-chain operations. Wanchain provides an open-source solution with universal multichain bridges, enabling the free flow of assets and data across heterogeneous blockchain networks without the need for intermediate central authorities.
Wanchain is EVM-compatible, allowing developers to deploy Ethereum-compatible smart contracts and dApps on its network. Users can manage assets across multiple blockchains using Wanchain’s integrated wallet solutions.
Wanchain achieves a TPS of approximately 1,000 transactions per second (TPS), making it suitable for handling high-volume transactions across interconnected networks.
Wanchain has extensively expanded its ecosystem through strategic partnerships and leading-edge innovations. Its cross-chain bridges connect major blockchains such as Ethereum and Bitcoin, facilitating seamless asset transfers of digital assets like Ether (ETH) and Wrapped Bitcoin (WBTC).
Wanchain has collaborated with Polygon to construct cross-chain bridges that support interoperability between Wanchain and Polygon-based networks, including DeFi and NFT platforms. Wanchain integrated with Ripple to bring XRP into its cross-chain ecosystem, providing XRP holders with access to DeFi applications on Ethereum and Binance Smart Chain.
Enterprises have used Wanchain to deploy blockchain-based supply chains and financial solutions, demonstrating its versatility for real-world applications. Wanchain has partnered with academic institutions to establish blockchain training and research on campuses while encouraging the development of cross-chain technology.
Wanchain launched cross-chain bridges for NFT marketplaces, enabling users to mint, trade, and transfer NFTs across Ethereum, Binance Smart Chain, and Polygon. The platform has integrated with Layer-2 networks to enhance scalability and reduce transaction costs, improving the user experience for cross-chain applications.
Wanchain introduced staking incentives to attract validators and secure its network, with recent updates optimizing rewards to encourage broader participation. Wanchain expanded its bridging technology to support private blockchains, allowing enterprises to integrate seamlessly with public networks.
The platform developed universal token standards to simplify cross-blockchain asset transfers for both developers and users. Wanchain continues to onboard DeFi protocols, including decentralized exchanges and lending platforms, fostering a fast-growing ecosystem and enhancing the utility of the WAN token.
Wanchain introduced governance mechanisms that enable WAN token holders to vote on protocol updates and cross-chain features, ensuring decentralization and community involvement. Wanchain has committed to becoming a carbon-neutral network by integrating energy-efficient practices into its operations, aligning with global sustainability goals. Additionally, Wanchain provides grant programs and hackathons for developers to build innovative dApps and tools, driving the adoption of its chain.
At December 27, 2024, WAN trades for $0.23, with its market capitalization sitting at $46 million. The growth in this blockchain interoperability has been gradual.
Wanchain (WAN) reached its all-time high (ATH) of $9.92 on May 3, 2018, and its all-time low (ATL) of $0.07 on March 13, 2020. Several factors influence the price change of WAN. The expansion of cross-chain bridges and partnerships increases demand for WAN tokens. The growth in the ecosystem, including the onboarding of DeFi and NFT applications, enhances the utility and adoption of WAN. Additionally, Wanchain’s green initiatives attract environmentally conscious investors and users.
Wanchain is one blockchain platform that has been enabling cross-chain compatibility, which opens up new possibilities in front of decentralized finance, NFTs, and enterprises. With strategic partnerships, a variety of innovative developments—like decentralized bridges and cross-chain governance—and a commitment to sustainability, Wanchain continues to grow its ecosystem and reshape the notion of blockchain connectivity. With scalability in infrastructure and increased utility, Wanchain is ready for a vital role in the future of blockchain interoperability.
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FAQs
Q1. For what is Wanchain used?
- A: It is utilized for paying transaction fees, staking, governance, and cross-chain asset transfers within the Wanchain ecosystem.
Q2. What is special with Wanchain?
- A: Security, Decentralized Cross-chain Bridges, and a focus on interoperability are some distinguishing features of Wanchain from other blockchain platforms.
Q3. How does Wanchain ensure security in cross-chain transactions?
- A: Wanchain uses sMPC and PoS consensus for the security of cross-chain transactions against different vulnerabilities.
Q4. Which industries does Wanchain target?
- A: Wanchain targets industries such as finance, supply chain, gaming, and enterprise blockchain solutions since the possible use cases are varied in nature.