Wanchain WANPrice $ 0.109

Wanchain operates as a decentralized blockchain platform that is compatible with smart contracts developed using Solidity. Wanchain deploys a unique architecture to enable cross-chain compatibility, this is through the use of bridges.

The platform has been In development since 2017 and launched in 2021 with a decentralized BTC-ETH direct bridge. The platform has continued to expand its available cross-chain bridges and also supports ring signature-based private transactions.

The platform’s native cryptocurrency is WAN.

What are Wanchain’s key features and how does it work?

A core part of the Wanchain platform is its bridges. The platform has Two-Way bridges and direct bridges used for transactions across and within different blockchain platforms. Two-Way Crosschain Bridges deal with transactions for native assets between blockchains, rather than transforming assets to another standard. In other words, when a native asset can be transferred from one blockchain and back again, this is a two-way bridge.

The Wanwallet can be used to transfer assets via two-way bridges. Direct Bridges allows assets to be transferred between two blockchains directly, that is, without the need for routing through Wanchain. Digital assets are sent directly from the source to the destination chain. The currently supported blockchain platforms for which transfers can be conducted between are Bitcoin, Ethereum, Polkadot, and EOS.

The platform also has NFT Bridges. These use the lock-mint-burn-unlock mechanism. NFTs are securely locked on the original source blockchain before being duplicated and minted on the receiving end.

Wanchain uses a unique consensus mechanism to ensure security. It uses two types of validator nodes. These are:

• PoS Validator Nodes: These take part in a typical Proof-of-Stake consensus model.
• Storeman Validator Nodes: These nodes take part in the verification of cross-chain transactions.

What can Wanchain be used for?

Wanchain can be used by developers to build applications across a large spectrum of sectors. This includes gaming, DeFi, among other financial tools. Developers can write their own smart contracts, build dApps, as well as create and issue NFTs on the platform.

Some notable examples of successful dApps include:

• OPENZOO the NFT Marketplace;
• WanSwap operates as an AMM DEX;
• Instant Cross is a low-cost crosschain solution.

Where can you buy WAN?

WAN is available for trading on the following CEXs and DEXs listed here. The most popular platforms with the highest liquidity are Binance, AscendEX, and Huobi Global. The price of WAN will vary depending on the choice of exchange and overall market conditions. For up-to-date and historic data for WAN market price, please view the price charts on this page.