Classification: Utility Token
Function: Financial Ecosystem
Project Status: Functioning
Circulating Supply: 106,152,493
Total Supply: 210,000,000
Exchanges: Binance, Huobi, KuCoin, Bitbns
Consensus Algorithm: Proof-Of-Work (POW); moving to Proof-Of-Stake (POS) eventually
Points of Confidence
Transaction Privacy Features
Decentralized Finance Platform
Wanchain is building a decentralized financial network that focuses on interoperability, privacy, and the exchange of digital assets. The Wanchain network will have many varying use cases beyond transfer and storage of value. Cross-chain asset transfer is a feature that will allow for, as the name suggests, the transfer of multiple assets across varying chains. This means a user will be able to send Bitcoin or Ethereum to Wanchain and be able to transfer those same assets back out or trade the different assets on the Wanchain network.
However, it’s vital that the cross-chain asset feature ensures transactions are not only secure but can be made private as well. Transaction privacy is important to blockchains because it allows different people to trade assets without that transaction being public. This is important because it helps to ensure that all parties involved in the transaction are safe and their digital assets are protected. Also, private transactions on a blockchain network mitigate the chance a user has of being targeted by potential malicious intentions by third-parties not associated with the transaction. Intra-chain connections function similar to Ethereum transactions but with the added features of privacy, accomplished via ring signatures, and one-time accounts.