Why Wanchain will accelerate blockchain adoption

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Ever since the introduction of the first alternative cryptocurrencies to Bitcoin, intereoperability between blockchains have been a pain point in the industry. As it stood, there was no way for blockchains to communicate with each other – no way to exchange value and information swiftly and seemlessly throughout the ecosystem. As more and more blockchains came online, public and private, it became increasingly evident this was a problem that needed solving.

Enter Wanchain, a decentralized smart contract platform with advanced privacy capabilities, who have been working on solving the difficult problem of cross-blockchain communication. They achieved their first mainnet bridge in Q3 of 2018 with Ethereum, and have since added support for Bitcoin, ChainLink, Loopring, Basic Attention Token, Gemini Dollar, MakerDAO, TrueUSD, USDC, and several others. Wanchain is set to integrate EOS and another unnamed blockchain and an array of ERC20 tokens in Q4 2019.

On top of this, WAN 4.0 will also be released. This enables integrations of private blockchains into the Wanchain ecosystem. For the first time, private chains will have a bridge into the much broader blockchain ecosystem. Companies that have already signed on to use WAN 4.0 upon launch include Telefonica, PUC Berhad, ClubPass, amongst others.

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So what does this all mean? How can Wanchain be leveraged to push blockchain adoption?

As we all know, cryptocurrency and blockchain have faced the problem of being overly complex and difficult for people to grasp at first, like most emerging technologies. Wanchain simplifies blockchain and brings it all into one place. Instead of interacting with a multitude of different blockchains, you can simply use Wanchain’s cross-chain functions to interact with any number of blockchains seemlessly.

Just a few possible use cases for Wanchain:

Decentralized loans

Peer-to-peer decentralized exchanges

Cross platform NFTs

The possibilities for NFTs extend far past the video game and collectors industry though. NFTs could be used to present ownership of real-world items like homes, cars, land, or any other item that is deemed worthy of proving ownership.

Loyalty points

Connected enterprise blockchains

Security token platforms

Simple crosschain mobile payments

Futures/Gambling/Prediction markets

Anything on Ethereum!

With this comes many benefits. While Ethereum continues to delay their transition from Proof-of-Work to Proof-of-Stake, the network suffers and continues to be bottlenecked under 20 transactions per second(TPS). With Wanchain’s recent transition to PoS, the chain can process more than 1000 transactions per second. Alongside that, dApp developers and users will also reap the benefits of cross chain transactions and private transactions.

Slowly but surely Wanchain is working to connect the decentralized blockchain world just as TCP/IP and Wide Area Networks(WANs) did at the dawn of the internet.

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Watch the Wanchain Vision video here!

If you:

  • Have any ideas for a dApp built on Wanchain
  • Are a company(traditional or blockchain based) interested in integrating Wanchain’s crosschain technology
  • Are interested in earning WAN rewards by running a validator node on Wanchain’s PoS network

Please contact @wanchain_org or @Wanchain_Agent on Twitter, visit us at wanchain.org, or email us at business@wanchain.org

To purchase WAN, you can visit a number of exchanges including Binance, BitMax, BitTrue, Huobi Global, Kucoin, or others found here.

Once you purchase your WAN coins, you can begin staking them directly in your mobile or desktop wallet to begin earning ~11–20% rewards annually.

Written by

Wanchain Global Ambassador

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