Wanchain (WAN)
Wanchain is a blockchain project that aims to bridge the gap between the present and the future by exploring and implementing blockchain technology. Its primary goal is to build a distributed "bank" that serves as the infrastructure for the digital asset financial framework. By enabling connections and exchanges of value between different blockchain ledgers, Wanchain seeks to create a new distributed infrastructure that supports modern financial services.
The concept of a distributed bank
Wanchain envisions itself as a distributed super-financial market, similar to how traditional banks serve as the backbone of the current financial system. The platform enables any institution or individual to set up a virtual teller window and provide services such as loan origination, asset exchanges, credit payments, and transaction settlements. By leveraging blockchain technology, Wanchain facilitates broader participation in financial services based on digital assets.
| Ticker | WAN |
| Category | Infrastructure |
| Website | https://wanchain.org/ |
| @wanchain_org | |
| Telegram | WanchainANN |
| https://www.reddit.com/r/wanchain/ |
Cross-chain protocol and ledger
Wanchain's infrastructure includes a non-proprietary cross-chain protocol and a distributed ledger that records both cross-chain and intra-chain transactions. This system allows any blockchain network—whether public, private, or consortium—to integrate with Wanchain. Consequently, it supports low-cost inter-ledger asset transfers and enhances the overall flexibility of digital asset management.
Cryptographic techniques
Wanchain employs advanced cryptographic theories to ensure secure and decentralized transactions. The Locked Account Generation Scheme, based on Shamir’s Secret Sharing Scheme, secures funds and keys when multiple parties are involved. Storemen are responsible for managing key shares, allowing transactions to be executed even if some validators are offline. This approach not only boosts decentralization but also ensures stability across transactions.
Wanchain's infrastructure and operations
The Wanchain Foundation
The Wanchain Foundation, a non-profit organization headquartered in Singapore with a significant presence in Austin, Texas, oversees the project's operations. Founded by Jack Lu, a prominent figure in the blockchain industry, the foundation promotes the development and adoption of Wanchain's technology.
Leadership
Jack Lu, the founder of Wanchain, previously co-founded Factom and established Wanglu Tech, which has been a primary contributor to Wanchain's open-source project. Dustin Byington serves as the president of Wanchain. He is a blockchain veteran, having founded Bitcoin College and co-founded Tendermint and Satoshi Talent, initiatives that have contributed to the blockchain ecosystem.
Token distribution and mainnet
WAN tokens were initially distributed as ERC-20 tokens during the initial coin offering (ICO), but they can now be exchanged for tokens on Wanchain's mainnet or purchased directly. This transition represents Wanchain's progress in establishing its own blockchain infrastructure, distinct from the Ethereum network.
Wanchain's role in the financial market
Pioneering a super financial market
Wanchain is focused on becoming a super financial market by addressing the entire financial ecosystem. This ambitious goal positions it as a pioneering project in the blockchain space, aiming to facilitate seamless transactions and financial services across different blockchain networks.
Competitors
Wanchain's comprehensive approach to financial services places it in competition with several other blockchain projects, including Fusion, Pantos, Ark, and Qash. Additionally, major blockchain platforms like Ripple, Stellar, and Ethereum are often considered indirect competitors due to their involvement in similar financial service domains.
Strong fundamentals and investor confidence
Wanchain's strong fundamentals, functional mainnet, and robust use case have garnered significant interest and confidence from investors. The project's successful ICO and the team's track record of success underscore Wanchain's potential impact on the financial landscape.