Wanchain 3.0 — Bridging Bitcoin & Ethereum — Alpha Testnet is Live!

Be the first to test a Bitcoin & Ethereum cross-chain transaction

We are very pleased to announce that invite-only testing for Bitcoin Integration (Wanchain 3.0) is now live — see below for registration details. This is the Alpha testnet for Wanchain’s 3.0 launch that has been planned to go live by the end of 2018. We have been making remarkable progress on our technology and are excited to deliver this Alpha testnet ahead of schedule.

Today marks the beginning of one of the most important achievements for Wanchain thus far. Wanchain is now an even more robust platform, providing interoperability with both Bitcoin and Ethereum. We would like to give a brief overview of our cross-chain implementation with Bitcoin, and what it means for Wanchain and the industry.

Bridging Ethereum to Bitcoin

Aside from our integration with Bitcoin being a major milestone for the cryptocurrency industry, this integration will also be of major significance to leaders of Ethereum-based projects. Upon launch of our impending Wanchain 3.0 release, any dApp, protocol, DEX, or other project built on Ethereum will be able to break down the wall between their network and the entire community of Bitcoin users. For example, decentralized exchanges (such as our partner Kyber DEX) will now be able to offer Bitcoin trading pairs. New pairs on decentralized exchanges in WBTC (Wanchain’s BTC token) will allow for drastic increases in trades and liquidity for the space at large. We will leave it to your imagination to think of the nearly unlimited other use cases this cross-chain capability will bring to the cryptocurrency ecosystem.

Connecting the World’s Digital Assets

The interconnected digital economy is a phase that is happening as the world’s assets are tokenized. The infrastructure platforms of the new digital economy should not operate in silos. The new economy should be interconnected and with every blockchain, whether public or private, capable of operating outside in the broad blockchain ecosystem. The transition towards blockchain interoperability is an extremely important step in laying the foundation for the future digital economy.

“The transition towards blockchain interoperability is an extremely important step in laying the foundation for the future digital economy.”
Jack Lu announcing 3.0 Alpha Testnet today in Shanghai, China

How does the cross-chain mechanism work?

An amount of Bitcoin (BTC) can be locked on its respective chain while an original 1:1 receipt (proxy token) is deployed on Wanchain in the form of WBTC (Wanchain’s Bitcoin cross-chain token). This WBTC can be seamlessly used in the Wanchain platform — sending across addresses, token generation events, DEX trades, dApps, liquidity pools, etc. Once you want to redeem WBTC for BTC, you can do so at any time, even after that WBTC changes accounts.

Alpha Testnet Application Process

A major obstacle all projects must go through is future proofing their platforms. Therefore, we want developers from the community to help us rigorously test our platform prior to an official release. We will reward programmers and developers who identify bugs in the platform.

We require participants to meet certain criteria to be eligible for testing. The criteria is outlined in the form embedded below

In order to sign up for invitation-only Alpha testing, please register by completing the following form:

As always, thank you for your continued support,

Jack

DISCLAIMER: Completion of this form does not constitute acceptance into our alpha testing process. We will contact users who have been selected by the end of next week. This Alpha Testnet is for command line only. We will release 3.0 Beta Testnet with GUI support in the near future.

About Wanchain

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 protocol supports not only smart contracts, but also token exchange privacy protection.

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