Up to present moment, Bitcoin, Ethereum and all the other Cryptocurrencies have existed separately. This has prevented many Blockchain from interacting with each other, hindering the exchange of values between projects and limiting the massive application of Blockchain technology. As a result, finding a solution that allows transactions between Blockchain has become one of the industry's top priorities.
Wanchain 2.0 is the first and only interoperable Blockchain with multi-party secure computing, which will ultimately allow seamless integration with almost any existing Blockchain. The platform is now fully connected to the Ethereum Blockchain, with the tools and development plans needed to scale.
In general terms, this new functionality, which is achieved through a combination of intelligent contracts, party processing and key sharing with threshold, allows Ether to cross-transfer from the Ethereum Blockchain and with a 1:1 ratio on the Wanchain platform. With a token called WETH. It also allows the ICO contracts to be compatible with ETH and WAN and the implementation of debit and credit contracts for WAN, ETH and other tokens.
As other Blockchain products continues to be added, Wanchain's new cross-chain technology aims to pave the way for a future in which people and businesses can access a decentralized platform that offers financial services protected by privacy policies, such as the administration and exchanges of digital resources, loans and credit payments. However, the possibilities do not end there; The functionality of the Wanchain cross-chain opens up new opportunities in many areas.
The integration of Wanchain with Ethereum is the first step towards the next important evolution of Blockchain technology. This vision shows a strong interconnected Blockchain network as well as public and private Apps, all linked by Wanchain. Uses of this technology are practically infinite and below are examples of some of its uses:
Finance: This technology allows the use of financing functions, including decentralized exchange, decentralized loans through cryptography or fiduciary currency, ICO Multi-currency, management of multiple assets and Cryptocurrencies payments.
How to use Wanchain?
• Logistics and supply chain, as an example: A well-known fast food chain that uses Wanchain to record its sales and all supplies in the Blockchain is affected by an E. Coli (Escherichia coli) epidemic in its various restaurants. Wanchain permits the company to trace the origin of the epidemic along the entire chain to the private Blockchain of a specific romaine provider, thanks to cross-connectivity between all the Blockchain along the supply chain. The transparent nature of the Blockchain-based solution will allow the company to take swift and decisive action and eliminate contaminated lettuce in its stores around the world.
• Medical Sector: A patient enters a local hospital but must be transferred to a more specialized treatment center. Each structure stores the patient’s data in its Blockchain to ensure that the data is unalterable and highly private. With Wanchain, the local hospital could transfer the patient's medical records to the Blockchain of a specialized center without interruption, in a safe and almost instantaneous manner, without compromising their privacy.
• Identification: China uses the Wanchain platform and Peru uses a different public Blockchain to record the identities of its citizens. If a Chinese citizen attempts to enter Peru and if Peru needs to verify its identity, Wanchain would allow a cross-reference of data between the governments of each country. In this way, Peru could verify the real identity of the Chinese citizen practically in real time.
With the launch of Wanchain 2.0, Wanchain will be the first interoperable network using the Secure Multi-Party Computation (sMPC) mechanism, the key with threshold and the locked account mechanism. With sMPCs, the parts can calculate the functions in the entries while they remain private. By sharing the public and private key between multiple Blockchain, the nodes are guaranteed to be unable to see the private data they are managing, because the keys are shared between the different nodes on the network.
Currently (29/08/2018) the WAN price is USD 1.27. Market capitalization on the other hand is about 134 million, 000.
It’s also worth mentioning the excellent performance of WAN in the last 24 hours and in the last week (+ 35.97%!).
WAN, despite being relatively new, is also among the 60 main Cryptocurrencies with the highest market capitalization. In the medium term (12-18 months) WAN is certainly a Cryptocurrency to consider.
It is not possible to buy WAN in many exchanges, but among the most famous (Binance, Huobi, KuCoin, DragonEX).
Do you want to invest in cryptocurrencies?
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The views and opinions expressed are the views of Crypto Currency 10 and are subject to change based on market and other conditions. The information provided does not constitute investment advice and it should not be relied on as such. All material(s) have been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.
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