Enterprises and developers can tap Wanchain’s cross-chain technology to transfer value between networks, such as converting ETH to BTC. Wanchain accomplishes this via an innovative cryptographic primitive known as secure multi-party computation (sMPC), which allows “Storemen” nodes to execute cross-chain transactions securely and privately.
Focusing explicitly on financial services and asset issuance, Wanchain is a medium for inter-ledger transfers and application sharing between financial entities. Use cases include crypto-collateralized lending services, P2P marketplaces, proxy token issuance, and cross-chain decentralized exchange swaps.
Developers can build applications using smart contracts written in Solidity on Wanchain, which has also built a bridge to the Ethereum network.
The Wanchain platform is underscored by the WAN token, which initially began as an ERC-20 token before converting to Wanchain’s native chain earlier this year. There is a current supply of 210 million WAN, which can be used for transaction fees across applications in the network and for validating blocks in its PoS consensus.
Wanchain is an open-source project written in Go, and is a member of the Enterprise Ethereum Alliance and Blockchain Interoperability Alliance.