Wanchain WAN

$6.05
Market Cap $ 642.086 MM
24h Volume $ 6.769 MM
Chg. 24h: 3.14%
Algo. score 4.0/5  (#37)
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Wanchain project purpose and description

Wanchain clarity of purpose

Wanchain purpose and aspects

Wanchain (wanchain.org) aims to build a distributed future "bank." As a distributed digital-asset based financial infrastructure, Wanchain allows any institution or individual to set up their own virtual teller window in the “bank” and provide services such as loan origination, asset exchanges, credit payments and transaction settlements based on digital assets. To be more precise, Wanchain is a distributed super financial market based on blockchain technology.

Wanchain additional differentiation against competition

The problem today and of tomorrow is interlinked to the fact that exchanges and wallets are mostly operated in a centralized way. Value exchanged between different digital assets with a distributed approach will be a long-term goal in the blockchain and digital economy, just as traditional banks are important in the current economic system. Wanchain is one of the solutions in keeping costs down, interlinking blockchains (this will not only be limited to the Ethereum and Bitcoin blockchains) and helping the unbanked (adults without access to banks backed by financial institutions either due to the nature of opening a bank account or the high costs involved). Wanchain helps others running their own wallets, ledgers and smart contracts through the Wanchain platform.

Wanchain categories

PrivacySmart contracts

Short description

Wanchain is creating new distributed financial infrastructure. Cross-chain smart contracts built on Wanchain will power the new digital economy.

Abstract

Digital currency, represented by Bitcoin and Ethereum, is blazing through traditional financial systems with the force of a prairie fire. Although blockchain technology is still in the initial stages of development, its transparent mechanisms and open concepts show tremendous vitality. Wanchain seeks to link the present to the future, through the exploration and implementation of blockchain technology. Wanchain aims to build a distributed “bank”. Just as traditional banks are the infrastructure of the current financial framework, Wanchain seeks to build a new, distributed infrastructure of digital assets to form an improved, modern framework - an ambitious goal indeed. Wanchain connects and exchanges value between different blockchain ledgers in a distributed manner. It uses the latest cryptographic theories to build a non-proprietary cross-chain protocol and a distributed ledger that records both cross-chain and intra-chain transactions. Any blockchain network, whether a public, private or consortium chain, can integrate with Wanchain to establish connections between different ledgers and perform low cost inter-ledger asset transfers. The Wanchain ledger supports not only smart contracts, but also token exchange privacy protection. With Wanchain, any institution or individual can set up their own virtual teller window in the “bank” and provide services such as loan origination, asset exchanges, credit payments and transaction settlements based on digital assets. Under the guarantee of “banks” based on the blockchain infrastructure, more people can participate in financial services based on digital assets. To describe it more accurately, Wanchain is a distributed super-financial market based on blockchain.

Link to Roadmap: https://wanchain.org/
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