With the noble goal of giving the banking sector a solution that can be integrated into their systems with ease, WanChain (WAN) is headed to be the first industry players to make cross-chain integration possible among cryptocurrency platforms. This is a functional bridge that is already as use case between WAN and Ethereum networks.
WanChain has been performing badly in the market since April but the recent recovery has endeared to many crypto verse fanatics and this are looking bright as we head towards the end of August. WanChain has found new ways of turning its price drop around and WAN has become a coin to watch.
WanChain Building Blockchain Bridges
Investor eyes are now shifting to WAN after the launch of 2.0 improved version in July. This has enabled its connectivity with the Ethereum outfit. This was made easier since WanChain (WAN) has a good history with Ethereum after they forked. It is easy to share secret keys, smart contracts and multiple user verification processes.
With this new innovative arrangement, you can transact your ETH on the WAN application on 1:1 basis with WETH. One WETH is equal to one ETH; however, at the time of going to press, you cannot transact WAN to ETH directly due to the differences in valuation and pricing between the two.
With the new interoperability, it is now possible to reverse a wrong transaction of WAN sent to ETH wallet. This could usher in more possibilities of voiding transactions in the industry. This is a true use case of blockchain cross-chains and a good marketing strategy for the two outfits.
According to WanChain (WAN) project plan, the team is set to more blockchains to their interoperability portfolio with BTC expected to be the next followed by select ERC20 tokens. If these plans work, it will be the WanChain selling point and will see a lot of interest not only from investors but other coins and tokens.
WanChain 3.0 Version in the Works
In a recent interview, the CEO and founder of WanChain, Jack Lu confirmed plans for WanChain 3.0 version. This will see a seamless compatibility between WAN and BTC. According to the CEO:
“Our main goal is to connect with Bitcoin and to prove to the community that our approach does work with the Bitcoin family, the Ethereum family, and most of the other chains in today’s blockchain world.”
WanChain (WAN) is working hard to break even in the crypto verse and is setting the pace by interconnecting with the top most popular coins in the world to gain more visibility, adoption usage and recognition. Lu goes on to say:
“Basically, all the tokens on Ethereum and Bitcoin can then connect to WanChain to leverage the cross-chain and privacy features. We can support DEXs, host ICOs and many other similar applications. We can create financial applications like token loans on WanChain.”
Latest WanChain Partnership
Despite building cross-blockchain bridges, WanChain is wooing more partners to its portfolio. The latest partnership with Kronos is a sole strategic collaboration to drive more WAN uptake in the market. After inking the deal, WanChain said in part:
“WanChain is pleased to announce a new partnership with Kronos, a financial platform that allows the average investor to access elite trading strategies employed by traditional fund managers around the world. Kronos is a valuable partner in WanChain’s mission to expand and rebuild financial services based on blockchain technology.”
This comes at a time when you can obscure your identity when making transactions on the network. The network also generates a new transaction address for every transaction and a good feature for the privacy conscious users. Smart contracts backed privacy is another area the coin is exploring in the future and are set to turn around value proposition and pricing of WanChain (WAN).