Wanchain (WAN) the New Distributed Financial Infrastructure
Wanchain is trying to create a new distributed financial infrastructure through the cross-chain smart contracts.
It implements cross-chain transfers of assets by setting up connections between the accounts of different blockchains and providing a framework for financial applications based on digital currency and digital assets.
Cound be considered a combination of Ripple, Ethereum and Monero.
They ran ICO in October in which they raised just under $36 million.
Since Wanchain is aiming to be a full financial infrastructure through cross-chains, smart contracts and privacy. They will include several application scenarios:
Decentralized Exchange allowing to exchange the world’s digital assets on-chain and transact them using the multi-asset wallet
ICO platform with streamlined process to launch ICOs and collect funds from multiple assets
Asset Management Tools with master address provides simplified and trusted audit and also privacy protection for trades and position.
Wancoin is the native coin of Wanchain. Both cross- and intra-chain transactions consume a certain amount of Wancoin meaning if platform has plenty of usage then there should be plenty of demand for the token due to fees.
Wancoin is also used in security deposits for the cross-chain verification nodes.
While crowd-funding will allow usage of other cryptocurrencies I believe that Wancoin will probably become the de-facto coin for the crowdfunding processes.
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