On December 11, 2018 in Austin, Texas , Wanchain has released Wanchain 3.0, the world’s most advanced block chain interoperability platform.
This product release is characterized by cross-chain transaction function between Bitcoin and Ethereum, and ERC 20 token such as MakerDAO’s DAI and MKR . This launch is a memorable step for the Web 3.0 economy industry where all public and private block chains are fully interconnected.
In the early stages of the Internet, WAN (wide area network) connects many isolated LANs, Wanchain is a platform that connects several different block chains and enables value transfer in a distributed way between networks.
The way to decentralized finance
People in the cryptocurrency and block chain industry have a common mission to reconsider and reconstruct how the world is structured. As technology has advanced in decades, each progress has accelerated the concentration of power and wealth among the world’s largest institutions and companies, either intentionally or unintentionally.
With the advent of block chains and smart contracts, we are witnessing the first technological advancement that we can not return to human race, but wealth, power and trust can be returned to people. The transition from centralized finance to decentralized finance requires some transition period and the current cryptocurrency industry where centralized exchanges still dominate the majority of transaction volumes is at that stage I will.
However, this release will accelerate the distributed future in block chain finance. Even Binance, the world’s largest trading volume centralized exchange , announced that it will launch a decentralized exchange (DEX) in the near future .
However, making DEX for one block chain is like creating a new e-mail server on the LAN network and does not address the basic problem. Our vision will not be achieved until all applications, DEX, protocols and other block chain components can be operated completely among the block chains. The realization of this is Wanchain’s mission.
“Wanchain 3.0 is our biggest release so far, brings users of Bitcoin network to tokens and projects that are building on Ethereum, I posted the company at the end of the year 2018 We are proud of the team of Wanchain who achieved the milestone of Wanchain.Wechain is one of the foundation components to connect all digital assets in a decentralized, traceable, unauthorized way in the long term We will continue to concentrate thoroughly on our goals. “ Jack Lu Wanchain founder, CEO
Wanchain – the world’s most advanced interoperability platform
Wanchain began releasing version 1.0 for the Wanchain platform in January 2018 and then launched interoperable version 2.0 with Ethereum this summer.
Currently, Wanchain releases version 3.0, connecting two of the most powerful block chain networks in the industry, bringing that community to one. Wanchain achieved this breakthrough by cross-chain mechanism and secure multi-party computation.
An example of a cross chain trade between Bitcoin and Ethereum is that Wanchain locks native tokens on each chain with Smart Contract and Storeman node and creates a proxy token on Wanchain (such as Wanchain – ETH), the coins on the original chain I will release a Smart Contract for redemption.
In addition, Wanchain has recently created packages for developers to make the cross-chain transaction process even more seamless. This package , called WanX ( Github ) , can be tackled by developers trying to cross-chain transactions on Wanchain and dramatically improve efficiency in creating cross-chain applications.
Enable new wave of use case
Distributed exchanges that are trying to build directly on Wherechain’s Ethereum base and on Wanchain will be able to offer Bitcoin trading pairs.
A new pair at the decentralized exchange with BTC will dramatically improve liquidity in this area. Other use cases for this crosschain feature include everything to introduce Bitcoin into crosschain cryptocurrency loan, cryptocurrency settlement utilizing multiple chains, and applications that only support Ethereum Yes. Chance with cross-chain with Bitcoin is quite exciting for both Wanchain and the industry.
I believe that there is a future in the distributed type that we all build and own.
Wanchain ‘s vision is to connect to the community through our technology. I am very pleased to contribute in the near future to build a future for finance and to make a comprehensive and decentralized economy that depends on mathematics instead of brands, governments and institutions in order to gain trust.
We will continue to strengthen integration with block chains, implement new chains to grow the ecosystem, strengthen the ease of developers at Wanchain, focus on expanding use cases utilizing the cross chain function To go.
Author: Arata – Source Post: https://crypto-times.jp/wanchain-ver3/
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