Moving further with our Whitepaper milestones, we’re proud to say we’re getting extremely close to the next one.
Last year, we established a strategic partnership with Wanchain to expand the applicability of our protocol and the general use and adoption of decentralized applications across various blockchain systems.
Soon enough, we’ll serve some major announcement about a fruit of our collaboration and common visions.
Wanchain — cross-chain management of digital assets
Headquartered in Singapore, Wanchain is working on establishing a new financial market of digital assets with the use of their technology of cross-chain transactions. Wanchain serves as an independent blockchain that supports the exchange of digital values between blockchains in a decentralized way.
On the one hand, Wanchain enables transfers of Bitcoin, Ethereum, and ERC-20 tokens, and on the other, it serves as a framework for building financial applications that leverage their smart contracts and privacy protection protocols.
Cross-chain communication protocol
To establish a secure and fast transfer of digital values between blockchains, Wanchain Cross-chain communication protocol runs on three modules:
- Registration module: registers the transferred asset and its origin blockchain.
- Cross-chain transaction data transmission module: launches the cross-chain transaction order, and if validated, executes the transaction
- Transaction status query module: checks the status of a transaction
Common ground for Wanchain and 0xcert
Both Wanchain and 0xcert are devoted to transactional security and asset safety, and we’re adding Wanchain blockchain as the second blockchain (after Ethereum) to the 0xcert Framework to provide their powerful features to our dapp builders.
Leveraging the private transaction functionality and effective management of a massive load of data, the Wanchain-0xcert integration could provide an effective and secure building platform and boost the adoption in the following use cases:
- Management of larger amounts of digital values
- Environments that require a larger/stronger infrastructure (games, collectibles)
- Environments that require top data and transactional privacy
The benefits of the Wanchain-0xcert partnership are two-fold:
- Wanchain will bring the users of 0xcert Framework the possibility to work on cross-chain ERC-721 NFT transactions and private transactions.
- The 0xcert Framework will bring Wanchain the possibility to create and manage ERC-721 non-fungible and ERC-20 fungible tokens on Wanchain and to execute atomic swaps.
In its essence, the 0xcert Framework is a blockchain-agnostic tool for asset management, and after Wanchain, we will add other decentralized systems, too.
All the functionalities for asset management we’ve incorporated within the 0xcert Framework will very soon become applicable to Wanchain, namely:
- creation (minting), certification, transfer of ERC-721 non-fungible tokens
- management of ERC-20 fungible tokens
- atomic operations of ERC-721/ERC-20 tokens in bulks (many-to-many)
- conventions for interoperability
We’re close, but not there yet.
Currently, we’re finishing phase 1, which will provide full support for Wanchain within the 0xcert Framework for building decentralized applications. Stay tuned for the upcoming tutorials about building with Wanchain.
In phase 2, we will add private transaction and cross-chain functionalities.
Originally published at 0xcert.org.