Wanchain is an open-source blockchain platform that facilitates the development of solidity-based smart contracts. Decentralized cross-chain operations and private transactions based on ring signatures are also supported.
Since 2017, Wanchain has been working to improve its cross-chain infrastructure. At the beginning of 2021, it established the first fully decentralized BTC-ETH bridge. It provides future-looking decentralized bridges to other chains like Polkadot in addition to BTC, ETH, Ripple, and EOS. Wanchain’s many inter-chain connections are backed by a network of decentralized pools.
Wanchain (WAN): At A Glance
Wanchain, short for Wide Area Network chain, is the world’s best-distributed blockchain interoperability solution. Our mission is to facilitate inter-blockchain communication and thereby increase the widespread use of blockchain technology. With the help of this interchain technology, programmers may create Web3 apps that are genuinely decentralized across many chains.
Wanchain is a protocol for conducting decentralized value transfers between independent blockchains. In the same way that WANs were responsible for connecting the many LANs that made up the early internet, Wanchain will serve as the WAN for blockchains.
Wanchain is a decentralized answer to the problem of interoperability across blockchains, and it is also a sustainable Layer 1 PoS blockchain. Wanchain’s Layer 1 PoS blockchain provides an environment similar to Ethereum. It is compatible with Ethereum’s standard tools, decentralized applications (Dapps), and protocols. Wanchain employs a Proof of Stake consensus process called Galaxy Consensus, which improves random number generation and block creation procedures by utilizing several cryptographic approaches, such as distributed secret sharing and threshold signatures. Galaxy Consensus is a continuation of Cardano‘s Ouroboros, produced by top researchers and academics worldwide.
Wanchain bridges directly connect EVM and non-EVM networks without needing a trusted third party. These nodes protect assets across chains by employing a hybrid of sMPC and Shamir’s Secret Sharing. So far, Wanchain’s blockchain-based wide-area network has joined over 15 separate Layer 1 and Layer 2 networks.
Wanchain (WAN): Overview
Bitcoin and Ethereum are the top examples of digital currency growing through the old banking system like wildfire. Blockchain technology is in its infancy, but the openness and transparency of its procedures and ideas indicate great promise.
Wanchain is a blockchain research and development company that aims to bridge the gap between now and the future. To that end, Wanchain is constructing a decentralized financial institution. Wanchain’s objective is ambitious: to create a new, distributed infrastructure of digital assets that will constitute an upgraded, contemporary financial framework, much like the role that traditional banks already play in the existing system.
Wanchain facilitates decentralized value transfers across several blockchains. It employs state-of-the-art cryptographic theories to construct a decentralized cross-chain protocol and a distributed ledger that may be used to track transactions between different blockchains.
Wanchain may be integrated into public, private, or consortium blockchain networks to facilitate inter-ledger connectivity and inexpensive asset transfers. Wanchain’s distributed ledger facilitates smart contracts and provides anonymity guarantees for token trades. Any business or individual with a Wanchain account can open a digital branch of the “bank,” allowing them to accept deposits and make withdrawals of digital currency, as well as originate loans, trade assets, pay bills, and settle transactions. More consumers will be able to use digital asset banking services thanks to “banks” built on the blockchain.
Wanchain is more precisely defined as a distributed blockchain-based super-financial market.
Wanchain (WAN): What Problems Does It Solve
Blockchain projects aim to innovate these days, yet many fail because they recycle old ideas. Each blockchain or group of blockchains operates independently, seeming disconnected from Web3 and the future as a whole. As far as Wanchain is concerned, the whole objective of Web3 is to make peer-to-peer interactions the backbone of a networked society. We also think that the goal of a networked society is to facilitate information sharing that does not require verification or approval from any outside parties.
In other words, by making something that is really distributed and compatible with others. Involves a distributed ledger system covering a huge geographical region.
As of 2017, Wanchain had already begun developing its cross-chain infrastructure. It was the first decentralized Bitcoin to Ethereum direct bridge, and it was released in early 2021. Concerning bridges, Wanchain provides alternatives that don’t involve a central authority.
Wanchain has Bridge Nodes, also known as Storeman nodes, in addition to the standard PoS Validator Nodes. All cross-chain transactions must be processed and verified by Bridge Nodes.
All Bridge Nodes must place a wager on WAN tokens. Each of Wanchain’s many inter-chain connections is backed by this centrally-located collateral pool that is entirely decentralized.
There are now 25 operational Bridge Nodes in the network. They can be considered the Bridge or Storeman Group as a whole. Every month, a new set of Bridge Group members is chosen.
The lock-mint-burn-unlock technique is widely used in Wanchain’s Direct Bridges. The Bridge Group secures the underlying asset on the originating blockchain. It then creates a wrapped token on the receiving blockchain when a user requests a cross-chain transaction. Once the user has burned the token, they will have access to the underlying asset.
Wanchain (WAN): Valuation
The currency of Wanchain is referred to as $WAN. This coin has a maximum supply of 210,000,000. Regular transactions, interactions between smart contracts, cross-chain transactions, and private transactions are all made possible using $WAN currencies. Wanchain’s PoS Layer 1 blockchain and the broader blockchain-wide area network are secured by $WAN currencies.
Currently, two $WAN faucets are available on Wanchain: an automated cross-chain faucet and a Telegram faucet.
Complete a cross-chain transaction from any blockchain to Wanchain to access the automated cross-chain faucet. If you do this, a bot will be triggered to fund new accounts with enough $WAN for a few transactions.
Visit the Telegram faucet by going to the WanFaucet channel and entering your Wanchain address to get some free $WAN. You may only use the Telegram faucet once per your Telegram account.
For Retail Investors
There will ever be precisely 210,000,000 WAN in the circulation of the cryptocurrency Wancoin. On May 3, 2018, it reached an all-time high of $9.75.
As of October 4, 2017, the Wanchain ICO was concluded, having raised approximately 120,000 ETH from the sale of 107.1 million tokens. These coins account for 51% of the entire token supply. Sixty percent of ICO funds are allocated to R&D. In comparison, the remaining ten percent is split across community building, marketing, infrastructure, and business operations.
Binance, KuCoin, Bitrue, and Huobi all provide WAN trading. Like Apple Pay and other mobile wallets, the WAN Wallet will eventually enable you to save many cryptocurrencies in one convenient place. To simplify monitoring, different cryptocurrencies can be “proxied” on Wanchain.
Wanchain (WAN): Price History & Overview
To achieve this goal, Wanchain proposes to move all value and asset transfers to the blockchain, making the financial sector genuinely decentralized. The Wanchain acts as a bridge between several blockchains, allowing for the exchange of value across them through the use of proxies. It is making great strides toward compatibility with all preexisting financial systems thanks to the following ingredients:
Once an ERC20 token on Ethereum, Wanchain has now hard-forked to create its own blockchain platform.
- Wanchain, like Ethereum, is a decentralized application (dApps) platform built on top of a smart contract blockchain. The financial sector is the intended audience.
- Wanchain uses on-chain proxies to link other blockchains together, allowing for instant, inexpensive transfers of assets.
- WANlab and the Wanchain Foundation collaborate with startups and programmers to build a robust ecosystem for decentralized applications.
Wanchain has the foundation for future success, but getting there won’t be simple. There’s still a long road ahead before it can establish alliances and encourage further growth. If it is successful, however, it has the potential to grow into a leading fintech player in the years to come.
Wanchain (WAN): Price Prediction
Every day, more than $3,000,000 worth of WAN is exchanged alongside digital currencies like Bitcoin, Ethereum, and Ripple.
Binance, KuCoin, Bitrue, and Huobi all provide WAN trading. Like Apple Pay and other mobile wallets, the WAN Wallet will eventually enable you to save many cryptocurrencies in one convenient place. To facilitate this, proxies of other cryptocurrencies are created on Wanchain.
In that it may act as a host for other currencies, Wanchain is similar to NEO and Ethereum. Therefore, holding Wancoins may entitle you to airdrops of other tokens, like as CryptoCurve’s CURV token, if you store them in an official Wanchain-backed wallet.
Blockchain-based vacation booking site UTour, blockchain-based gaming platform GameBank, and multi-coin tracking wallet CryptoCurve are just a few of the projects in development at WANlab’s accelerator program. Like Ethereum’s ecosystem, each project will have its own token on Wanchain.
Thanks to the Wanchain network’s consistent development, 2022 is shaping to be a prosperous year for WAN. This is why the optimistic 2022 price forecast for Wanchain is $1.6. But the pessimistic forecast for WAN in 2022 is only $0.21.
In addition, WAN performance will increase, eventually reaching $0.88, due to the developments and updates to the WAN environment. Still, if WAN is seen as a promising investment in 2022 and 2024, its value might rise to $1.2. The forecasts made by Wanchain (WAN) are inconsistent. Nobody can agree on whether the price of WAN will go up or down in the future. Many variables, including upcoming announcements, innovative technology solutions for Wanchain projects, the crypto ecosystem as a whole, the legal stance, and so on, all play a role in the company’s potential for future growth.
Wanchain (WAN) Price Prediction for 2025-2029
Price forecasts for Wanchain remain primarily bullish, with some analysts predicting a range of $0.62-$0.870997 by 2025 and beyond. However, WalletInvestor suggests an alternative scenario in which the price reaches $0.240851 at the end of the forecast period (December 2022). In 2025, the price of one Wanchain is expected to rise to $0.91, which is an upbeat forecast. In agreement with a favorable prognosis, TradingBeast is projecting $1.471984 for the same time frame.
Wanchain (WAN) Price Prediction for 2030
Long-term Wanchain pricing projections predict considerable growth by 2030, as most industry analysts anticipate a bright future for Wanchain. WalletInvestor and TradingBeast forecast a price of $1.245, although the latter has a higher estimate of $1.780152. PricePrediction.net, like many others, has high expectations for Wanchain’s future; their Wanchain price forecast for 2030 is $5.53.
Should you put money into Wanchain (WAN)?
Our research indicates that Wanchain is not a worthwhile asset. There is a lot of competition with other crypto projects like it, it doesn't have anything particularly unique to offer in terms of technology or creativity, and it doesn't even have a real community (apart from the speculators). Both the group of people who believe the hype and the people working on the project have yet to show themselves.
Why do you think the value of Wanchain will continue to rise?
Wanchain's chances of success are pretty low. It lacks in several vital areas: first-mover advantage, distinctive value proposition; formidable team; and a sizable community. This makes it unlikely that Wanchain will ever be able to successfully increase pricing.
What do you think Wanchain's near-term prospects look like?
In the next 90 days, Wanchain's price will fall from its present level at $0.2434 to $0.1475, a drop of -39.4 percent.
Is it possible for Wanchain to fail and reach zero?
It's possible that after around five years, Wanchain may be abandoned. Once exchanges stop trading and users stop holding it, Wanchain will be dead and buried like the rest of the cryptocurrencies.