Wanchain
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Wanchain

Welcome to Wanchain

The future is interoperable.

Please note: This article is meant as an introduction for newcomers and may be periodically updated.

What is Wanchain?

Wanchain’s mission is to drive blockchain adoption through interoperability. We do so by building cross-chain infrastructure that connects the world’s many siloed blockchain networks. The purpose of this infrastructure is to empower developers to build decentralised cross-chain applications that power the future of Web3.

Wanchain’s cross-chain infrastructure comprises both a sustainable Layer 1 proof-of-stake (PoS) blockchain and a decentralised wide area network of blockchains. The Wanchain Layer 1 PoS blockchain is a full Ethereum-like environment that works with industry-standard Ethereum tools, DAPPs, and protocols. Wanchain uses a Proof of Stake consensus algorithm called Galaxy Consensus that leverages a variety of cryptographic schemes including distributed secret sharing and threshold signatures to improve random number generation and block production mechanisms. Galaxy Consensus, developed by world-class researchers and academics, is a continuation of Cardano’s Ouroboros. Wanchain’s wide area network of blockchains is a decentralised system of direct, non-custodial cross-chain bridges that connect both EVM and non-EVM networks without requiring any centralised intermediaries. These bridges use a combination of Secure Multiparty Computation (sMPC) and Shamir’s Secret Sharing to secure crosschain assets. Currently, more than 18 Layer 1 and Layer 2 networks are connected by Wanchain’s wide area network of blockchains.

What problem is Wanchain solving?

Today’s blockchains are trying to create something new, but too many are simply repeating the mistakes of the past. Each blockchain — or in some cases, a cluster of blockchains — exists as a siloed, isolated network that doesn’t feel connected to Web3 or the future. Wanchain believes that the point of Web3 is to make peer-to-peer interactions the essence of a networked society. And we believe that the point of a networked society is to enable the trustless and permissionless exchange of information.

So, the problem we are trying to solve is: How do we create something that unifies everyone and everything?

The answer? By creating something truly decentralised and interoperable. A wide area network of blockchains.

How is Wanchain secured?

Wanchain’s PoS Validator Nodes reach consensus using a proprietary Proof of Stake consensus algorithm called Galaxy Consensus. It is a continuation of Cardano’s Ouroboros. Nodes need to stake $WAN tokens before they can validate transactions on the network. For detailed information about the Galaxy Consensus, please read the whitepaper.

What blockchains are supported by Wanchain’s wide area network of blockchains?

Wanchain has been building its crosschain infrastructure since 2017. In early 2021, it launched the world’s 1st decentralised Bitcoin — Ethereum direct bridge. Wanchain offers decentralised, non-custodial bridges connecting:

  • Arbitrum
  • Avalanche C-Chain
  • Bitcoin
  • BNB Chain
  • Clover Parachain
  • Dogecoin
  • EOS
  • Ethereum
  • Fantom
  • Litecoin
  • Moonbeam
  • Moonriver
  • OKC (OKX Chain)
  • Polkadot Relay Chain
  • Polygon
  • Tron
  • Wanchain
  • XDC Network
  • XRP Ledger

All of Wanchain’s decentralised crosschain bridges are supported by unified decentralised collateral pools, maintained by Wanchain’s Bridge Nodes.

Note: More networks are always being added to our wide area network of blockchains. Please visit https://www.wanchain.org/ for an up-to-date list.

What are Wanchain Bridge Nodes?

In addition to regular PoS Validator Nodes, Wanchain features Bridge Nodes, sometimes called Storeman nodes. Bridge Nodes are responsible for performing and verifying crosschain transactions.

Bridge Nodes must all stake WAN tokens as collateral. All of Wanchain’s different crosschain bridges are supported by this unified decentralised collateral pool.

At any given time, there are 25 active Bridge Nodes. Together, they form the Bridge or Storeman Group. The Bridge Group is re-elected on a monthly cycle.

Since Bridge nodes are permissionless, anyone can set up a Bridge Node. More details on this process can be found in the setup guide.

How do Wanchain’s decentralised crosschain bridges work?

Wanchain offers multiple different kinds of crosschain bridges: Direct Bridges, Layer 2 Bridges and NFT Bridges.

Most of Wanchain’s Direct Bridges use the lock-mint-burn-unlock method. When a user initiates a crosschain transaction, the Bridge Group locks the original asset on the source blockchain before minting a wrapped token on the destination blockchain. At any time, the user can burn the wrapped token to retrieve the original asset.

For example, if a user wants to move 1 ETH from Ethereum to Wanchain, 1 ETH is first locked on Ethereum before a new token — let’s call it wanETH — is minted on Wanchain. At any time, 1 wanETH can also be burned to retrieve 1 ETH.

Layer 2 Bridges use decentralised liquidity pools to bridge assets. With this method, both the source and destination blockchains have a pre-existing pool of assets locked in an account controlled by the Bridge Group. When a user initiates a crosschain transaction, they deposit assets into the pool on the source blockchain before the same number of assets is released on the destination blockchain.

For example, if a user wants to move 1 USDT from Polygon to Arbitrum, 1 USDT is deposited into the pool on Polygon before 1 USDT is released to the user on Arbitrum. The mechanism is the same when moving from Arbitrum to Polygon.

NFT bridges are customised to each project, though they more closely resemble the lock-mint-burn-unlock method to bridging. All NFT IDs and attributes are transferred from one blockchain to another.

How can I initiate a crosschain transaction?

There are two primary channels to initiate crosschain transactions:

Here are several blockchain specific guides:

What are $WAN coins?

Wanchain’s native asset is called $WAN. It has a max supply of 210,000,000 coins. $WAN coins enable several functions including regular transactions, smart contract interactions, crosschain transaction and private transactions. $WAN coins also serve as collateral to secure both the Wanchain PoS Layer 1 blockchain and the wide area network of blockchains.

The primary exchanges trading $WAN coins include:

See a comprehensive list here.

Note: $WAN is not an ERC-20 token.

Is there a $WAN faucet?

Wanchain currently offers 2 $WAN faucets: an automatic crosschain faucet and a Telegram faucet

To use the automatic crosschain faucet, all you need to do is complete any crosschain transaction from any blockchain to Wanchain. Doing so will automatically trigger a bot that will ensure that new accounts have enough $WAN to complete a few transactions.

To use the Telegram faucet, simply visit the WanFaucet on Telegram and enter your Wanchain address to receive a bit of $WAN. Each Telegram account can only use the Telegram faucet once.

What can I do with $WAN coins?

$WAN coins can be staked to deploy Wanchain’s PoS Validator Nodes to secure and run the Wanchain network. Follow this guide to deploy your own PoS Validator Node (advanced), or this guide to delegate your $WAN to someone else’s PoS Validator Node (simple).

$WAN coins can also be staked as collateral for Wanchain’s Bridge Nodes. Bridge Nodes perform and verify crosschain transactions to ensure the smooth and secure transfer of value between different blockchains. Follow this guide to deploy your own Bridge Node (advanced) or this guide to delegate your $WAN to someone else’s Bridge Node (simple).

Many applications also use $WAN coins. For example, WanSwap, a crosschain AMM DEX, uses $WAN for yield farming. WanLend, an incentivised decentralised lending platform, allows users to stake $WAN as collateral for loan. $WAN coins can also be used in ZooKeeper, a gamified NFT-boosted yield farming platform. A more comprehensive list of applications can be found below.

Finally, a small amount of $WAN coins (fewer than 0.0001 $WAN) is needed to execute each transaction on Wanchain.

Where can I store $WAN and other Wanchain assets?

Several wallets support WAN and other Wanchain assets.

What are some prominent DAPPs on Wanchain?

Other useful links

About Wanchain

We are all connected — Wanchain, the Wide Area Network chain, is the world’s premier decentralised blockchain interoperability solution. Our mission is to drive blockchain adoption through interoperability by building fully decentralised bridges that connect the world’s many siloed blockchain networks. This crosschain infrastructure empowers developers to build truly decentralised crosschain applications to power the future of Web3.

Website | Bridge | Documentation | Telegram | Twitter | Newsletter | Blockchain Explorer | Developer Portal

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Wanchain is both a sustainable Layer 1 PoS blockchain and a decentralised wide area network of blockchains. The future is interoperable.

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Temujin Louie

Director of Marketing @ Wanchain. Blockchain true believer… for better and for worse!