Wanchain, also known as Wanwei Chain, focuses on the development of cross-chain mechanisms. By building a distributed financial infrastructure with cross-chain capabilities, Wanchain aims to achieve the ambitious goal of interconnecting multiple blockchains. To date, Wanchain has successfully integrated Bitcoin, Ethereum, EOS, and ecosystem tokens on Ethereum and EOS through cross-chain technology, and proposed the Universal Cross-Chain Framework (T-Bridge) to enable the free flow of assets and data between different public and consortium blockchains. In terms of consensus mechanisms, Wanchain has designed and launched a practical PoS consensus protocol with a complete delegation mechanism, known as Galaxy Consensus.

Project Positioning

From the perspective of blockchain industry development, Wanchains ultimate vision is to create a distributed "bank" of the future. This involves connecting different blockchain ledgers to enable the transfer of assets across ledgers, providing an infrastructure for financial applications based on digital currencies and digital assets. It fully leverages the functionality of blockchain in carrying and transferring value, embodying the principles of equality and openness.
From the perspective of blockchain underlying technology development, Wanchain applies cutting-edge cryptographic technologies such as secure multi-party computation, threshold key sharing, ring signatures based on elliptic curves, and one-time account generation mechanisms. It was the first to solve the problem of privacy protection for smart contract token transactions. In a sense, Wanchain is a typical application of advanced cryptographic theories addressing challenges in the blockchain domain, representing the direction of blockchain underlying technology towards provable security from conditional security, and algorithmic theory control from logical control. Wanchain has a dedicated team of cryptography researchers who continuously contribute to the application of cryptography in the blockchain industry.
From the perspective of blockchain technology applications, Wanchain is not just a blockchain project that enables cross-chain transactions and interoperability of multiple assets; it is also a comprehensive blockchain development platform. While implementing cross-chain transaction capabilities, Wanchain is also a standalone blockchain network: it includes a native coin, supports smart contracts, and provides privacy protection mechanisms for smart contract token transactions. Any developer can build financial applications tailored to their needs on Wanchain.

Project Application Scenarios

Cryptocurrency Lending
As cryptocurrencies become more widely used as a medium of exchange and store of value, creating new value and generating returns from them is a natural trend, similar to investing in "mining" or other blockchain projects ICOs. As the application of cryptocurrencies expands, there are increasing opportunities to directly invest them (without converting to fiat currency, with returns denominated in cryptocurrencies). Those seeking to create value from cryptocurrencies need more of them, while those holding them seek appreciation. The demand for cryptocurrency lending services will grow. Wanchain supports institutions or individuals with credit and capital capabilities to act as intermediaries for cryptocurrency supply and demand, facilitating deposit and loan activities. Using Ethereum as an example, intermediaries can create deposit applications using smart contracts on Wanchain, setting interest rates. Ethereum holders can transfer their funds to the corresponding address on Wanchain via a cross-chain mechanism. Wanchains deposit smart contract issues a receipt (a token on Wanchain, akin to a bank certificate of deposit) to the users account on Wanchain, automatically calculating interest. When users want to withdraw their Ethereum deposit, they return the receipt to the intermediarys address, and the smart contract executes a cross-chain transaction to unlock and transfer the equivalent Ether back to the original users account. A key advantage over traditional models is that the reserve ratio (the assets locked in the intermediarys address) is transparent, allowing depositors to monitor it at all times.
Cryptocurrency Payment and Settlement
An increasing number of merchants are accepting cryptocurrencies like Bitcoin as payment. More commercial scenarios will use various cryptocurrencies as payment mediums. For users, installing multiple wallets on computers and phones for payments is inconvenient, much like how traditional payments require intermediaries like VISA, PayPal, and Alipay to consolidate payment and settlement processes. Wanchain itself is a distributed multi-currency platform. Similar to how third-party payment systems integrate different banks ledgers into a unified ledger, Wanchain achieves a similar function in the cryptocurrency domain. Merchants and users can install the Wanchain wallet to facilitate multi-currency payments and settlements without needing multiple cryptocurrency wallets.
Cryptocurrency Trading and Exchange
Currently, cryptocurrency exchanges rely on centralized exchanges and over-the-counter intermediaries, with all trades based on trust in these entities. After multiple currencies are integrated into Wanchain, exchanges or intermediaries can use smart contracts to enable competitive trading and one-on-one over-the-counter transactions for multiple currencies. Wanchain offers privacy-protected trading mechanisms to support transactions requiring privacy. Importing non-privacy-protected cryptocurrencies into Wanchain, initiating privacy transactions within Wanchain, and then transferring them back to their original chains can, to some extent, protect privacy by breaking the trail of fund tracking, similar to earlier mixing schemes.
Digital Asset Investment and Financing
We have seen a trend toward mapping traditional assets onto blockchains in the form of consortium chains, such as commercial bills, loyalty points, future revenue rights, and accounts receivable. More financial assets will be recorded on distributed ledgers based on consortium chains. When these consortium chains connect to Wanchain, they become providers of financial assets, enabling cryptocurrency holders to purchase these assets as investments. Analogous to buying wealth management products from a bank, this allows more intermediaries to participate or asset owners to directly finance their assets. ICOs have become an important fundraising method in the blockchain domain, and this trend is spreading beyond it. More projects, especially those based on Ethereum, directly use smart contracts for ICOs, making the process more transparent and fair, but only allowing investment in Ether, which is inconvenient for investors holding other cryptocurrencies. ICO platforms or individual ICO projects built on Wanchain can support investment in multiple currencies when issuing tokens through smart contracts. Investors can more conveniently invest using Ethereum, Bitcoin, or any other tokens connected to Wanchain, and issuers can more easily manage their raised funds. Further, when projects go live, new blockchains can easily convert crowdfunding shares into native tokens through Wanchains cross-chain mechanism. With Wanchain, we will enter an era of digital rights issuance entirely based on blockchain.
Other Application Scenarios
The above describes basic application scenarios aimed at helping readers better understand the operational logic and value of Wanchain. One can envision other possibilities, such as issuing multi-currency credit cards based on cryptocurrencies, bundling various assets for securitization, conducting P2P and crowdfunding businesses involving multiple cryptocurrencies, and more. Major banks view the application of blockchain technology as a strategic priority, often focusing on transforming traditional businesses. However, cryptocurrency-based businesses, such as currency exchanges, are already thriving. These two areas of blockchain progress, like parallel lines, will converge as digital assets become more significant in the economy and integrate more closely with the real economy. Wanchains cross-ledger asset transfer capabilities will support this convergence, enabling digital assets to enter banks balance sheets (banks supporting digital asset deposits and loans) and parts of banks balance sheets to move onto blockchains (fiat represented and accounted for as blockchain tokens).