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About Wanchain Defi Coin

Wanchain Defi Coin aims to be the infrastructure connecting the decentralized financial world. Wanchain’s live cross-blockchain solution is EVM-based, includes optional private transactions, and provides a decentralized, permissionless, and secure approach for interoperability..

Having integrated Bitcoin, Ethereum, and EOS, Wanchain aims to pave the way for plug and play connectivity between public, private, and consortia blockchains. Wanchain has employees globally with teams in Beijing (China), Austin (USA), Kuala Lumpur (Malaysia), and Madrid (Spain).

Quick Fact About Wanchain Defi Coin

Coin Basic Information
DEFI Coin Name Wanchain Defi Coin
Circulating Supply169,028,581 WAN
Total Supply210,000,000
Contract Address 0x83e6f1e41cdd28eaceb20cb649155049fac3d5aa
Source CodeClick Here To View Source Code
ExplorersClick Here To Visit
Twitter Group Click Here To Visit Twitter Group
DocumentationClick Here To View
Project Support24/7
Official Project Website Click Here To Visit Project Website

Open Finance is Currently Broken

Blockchain technology is rapidly changing the world as we know it, but public and private blockchain networks are still operating in isolation. Open Finance must be connected.

Open finance is enabling financial freedom, empowerment, and connectedness that we’ve never experienced in history. They seek to accelerate this change through global connectivity.

Price

Wanchain price today is $0.428860 USD with a 24-hour trading volume of $5,301,550 USD. Wanchain is up 11.12% in the last 24 hours. The current CoinMarketCap ranking is #156, with a market cap of $72,489,602 USD. It has a circulating supply of 169,028,581 WAN coins and a max. supply of 210,000,000 WAN coins.

How Does It Work?

  1. Funds lock on original blockchain. Account’s private keys managed by Wanchain nodes.
  2. Issue proxy token on Wanchain
  3. Use proxy tokens in Wanchain ecosystem
  4. Burn the proxy tokens & unlock original tokens

Real World Applications

Wanchain provides the economic infrastructure for developers to build super financial applications that span multiple blockchains and communities.

  1. Cross-Chain Decentralized Exchange
  2. Cross-Chain Mobile Payments
  3. Connected Enterprise Blockchain
  4. Decentralized Financial Applications

WAN Token Utility

WAN Token being the native token of Wanchain offers various functions alongside basic value storage and transfer. WAN tokens are used to pay cross chain verification nodes when making transactions. Wanchain launched their ICO in October 2017, raising $36million.

Their tokens were initially ERC20, but they have since moved away from the Ethereum blockchain unto their own, and are now allowing users to convert their ERC20 tokens to WANs.

Wanchain Defi Coin is currently priced at $0.97, but has been priced as high at $9.68 this year. This is mostly because of the major market rout that we have seen across cryptocurrencies since January.

  1. Proof of Stake Block Rewards
  2. Cross-Chain Bridge Node Staking Rewards
  3. Transaction Fees

Connecting and Empowering Communities

They know they can’t achieve our vision alone. We are building out a powerful network of top technology partners, decentralized finance applications, and industry-leading consortia. They are continously building new strategic relationships and supporting companies choosing to leverage Wanchain’s cross-chain technology.

Non-profit Organization

The Wanchain Foundation is a non-profit organization primarily operating out of Singapore but also has a significant presence in Austin, TX. Wanchain was founded by Jack Lu, a respected player in the blockchain space. Before his current role, Lu co-founded Factom and started Wanglu Tech, a blockchain application development company. Wanglu Tech has been a primary contributor to the open-source Wanchain project.

Dustin Byington serves as the Wanchain President. Byington is a blockchain veteran having founded Bitcoin College in 2014 as well as co-founding Tendermint, a software mechanism to securely and consistently replicate applications across machines.

Byington also co-founded Satoshi Talent, a platform to connect blockchain entrepreneurs with developers. WAN tokens were initially distributed as ERC-20 tokens to ICO participants, but it’s now possible to exchange these for tokens on the Wanchain mainnet or buy them directly. It’s a common misconception that WAN is an ERC-20 coin.

Genesis of “Wanchain”

Wanchain Defi Coin ” means “ten thousand” in Chinese, so the brand name ‘Wanchain’ translates to “ten thousand blockchains”. Wanchain is connecting the world’s many isolated blockchains.

WAN also refers to the ‘Wide Area Network’ in network terminology, and Wanchain is building a network of many blockchains that previously could not communicate.

Key Technologies

Wanchain adopts the Proof of Stake (POS) consensus algorithm, the description of which can be found in a series of papers from Ethereum, so it is not detailed here. Theoretically, the Proof of Work (POW) consensus algorithm is subject to the threat of 51% power attack, while similarly, the POS consensus algorithm is theoretically subject to a threat of collusion attack of participants. As a result, Wanchain introduces this mechanism to increase the opportunity cost of verification node collusion, allowing Wanchain to record cross-chain transactions faithfully and follow the cross-chain processes objectively.


editor

One of Coinworldstory's longest-tenured contributors, and now one of our editors, Verna has authored over 2600+ stories for the site. When not writing or editing, He likes to play basketball, play guitar or visit remote places. Verna, to his regret, holds a very small amount of digital currencies. Verna Is team Members of 9 People

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