Breaking the Isolation to Ensure Greater Success:
The Cross-Chain Technology Revolutionizing the Blockchain Industry
Background:
The rise of Bitcoin saw the growth of hundreds of companies leveraging its underlying technology, blockchain, to develop public and private chains of their own. Each chain either addresses a specific use case or claims to be the all-in-one platform. Whoever survives the battle of chains will need to be able to do what so many survivor-warrior movies teach us — work together. Each survivor should be able to not only hold their own in and out of the battle but can work with other survivors. In the blockchain world, this is called cross-chain technology. Since many blockchains have their own code and tokenomics, achieving interoperability can be challenging. There are many platforms which are working to address this challenge, but only some of them have reached the actualization of this need.
Wanchian and its Cross-chain technology
WanChain has taken the lead in actualizing cross-chain technology by collaborating with AION and ICON to create the Blockchain Interoperability Alliance. WanChain has also joined the Enterprise Ethereum Alliance recently, to continue to encourage and develop cross-chain technology. Through Wanchain’s protocol, transactions can occur between multiple blockchains. Because Wanchain’s transaction layer is itself a blockchain, it ensures the privacy and security of transactions enabled by their protocol.

Uses of Cross-chain technology:
Cross-chain technology will revolutionize the blockchain space by creating the collaborative tools for engagement between chains enabling broader market adoption. Similar to the burgeoning multi-cloud computing industry, the company that builds the tools for inter-cloud operability, between Microsoft Azure and Google Cloud as an example, will see the greater adoption of that industry. Businesses do not want to be forced to use one system over another. Choices that help reduce cost and increase efficiency are the types of options businesses, and individuals want to see.
The demand of Cross-chain applications:
What are some critical cross-chain tools that are being developed? Wallets. Imagine if you often travel, needing to have multiple wallets, digital or physical, for each currency you use. It would be frustrating to have to download a separate app or carry a separate wallet for each currency. In the crypto assets world, wallets are of course essential to holding your digital assets and keeping them safe and secure.
World’s first Cross-chain wallet based on Wanchain’s technology:
WanLabs, an arm of WanChain, fosters the development of projects working to leverage cross-chain technology. One of those projects is the Theia wallet. Theia is the first mobile digital asset wallet based on cross-chain technology. Theia will be running an ICO on the Wanchain protocol to develop their wallet and token economy. THA is the token used on the Theia platform.

Uses of Theia wallet:
Theia wallet is not only a tool of asset management, but also a user co-created, co-shared and comanaged platform. Theia wallet users will be rewarded with THA token by using the wallet and its different features. Users holding THA token will lead the development of the platform.
Theia wallet users can vote for DAPPs and premium investment institutions that will go on to evaluate supported projects to decide whether they receive angel investments. Users will receive token rewards for the projects that are chosen along with the option to participate in the private sale of the selected token project through the investment institutions. 80% of the profit from the different cryptocurrencies will be distributed to the users of the platform.

Looking to the future:
Theia wallet is one of the new wallet projects out on the blockchain scene that believes in the need to develop the infrastructure to enable greater adoption and use of crypto assets. Cross-chain technology plays a critical role in that infrastructure. While blockchain companies compete for who has the better price on an exchange, the businesses that will succeed are those with an eye on the products that will encourage greater use.
