Wanchain (WAN)

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Wanchain wants to become the “backbone of the new digital economy”. The Wanchain team aims to rebuild finance by connecting the world’s digital assets onto a single blockchain, while offering private cross-chain smart contracts.

Our Joke Name

Wanchain = Monereum

Basic Intro

Link to the main website

Link to price/market cap

Exchange Ticker (WAN)

Coin or Token

Circulating Supply (106 Million)

Total Supply (210 Million)

Block time (Under 10 min)

Market Cap Ranking

Review

Wanchain wants to become the “backbone of the new digital economy”. The Wanchain team aims to rebuild finance by connecting the world’s digital assets onto a single blockchain, while offering private cross-chain smart contracts.

Key Features

  • A fork of Ethereum
  • Monero ring signatures
  • Cross-chain

A fork of Ethereum

Wanchain is a fork of Ethereum and has all the same functionalities that Ethereum has. This means the Wanchain blockchain can be used with respect to token issuance and can hence also be used as an ICO platform and will allow a user to create smart contracts in a similar way as can be done on the Ethereum blockchain.

Monero ring signatures

Monero is a fork of Ethereum but also implements Monero’s ring signatures which makes this a secure, private, untraceable currency. Implementing ring signatures makes it impossible for outputs to be associated with the recipient’s public address. This is done by creating a one-time destination public key. Only the recipient can detect the designated output on the blockchain, so the privacy of the recipient is assured.

Cross-chain

Wanchain is planning to support cross-chain transactions, which will allow for distributed cross-chain Dapps while removing centralized counterparty risk. For example, Wanchain is planning on supporting ERC20 and protocol tokens. Wanchain’s model for distributed financial infrastructure allows for assets to be exchanged across different blockchains. The native cryptocurrency named Wancoin will then serve as an intermediate currency for the exchanges.

Summary

Wanchain is still in development and its roadmap extends until at least the end of 2019. Wanchain can be seen as a mix of Ethereum (smart contracts) and Monero (privacy) while planning to integrate cross-chain transactions. If Wanchain is successful in completing their project, the Wanchain platform will allow for digital asset transfers using cryptocurrencies as a medium and the platform will be a place for developers to create decentralized applications that will work on different blockchains.

Pros

  • Best bits of multiple currencies
  • Private
  • Secure

Cons

  • Features not implemented yet
  • Possible regulations
  • No backing (asset, profits, commodity)

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