Preface

Wanchain (WAN) is a blockchain project focused on building decentralized financial infrastructure, with a vision to establish a cross-chain interoperable financial ecosystem connecting various public and private blockchains.

What is Wanchain?

Wanchain is a pioneering decentralized cross-chain solution designed to promote interoperability between different blockchains and provide secure, efficient asset transfer services. The project was launched in 2017 with the aim of accelerating the adoption of blockchain technology, enabling billions of users to join a unified and interoperable blockchain network. Wanchain’s core technologies include decentralized cross-chain bridges, smart contracts, and privacy protection mechanisms, empowering developers to build truly decentralized cross-chain applications and providing strong support for the Web3 era.

Technical Architecture

• Decentralized distributed ledger

Wanchain establishes a fully decentralized ledger that allows seamless connection and execution of cross-chain transactions between different blockchain networks. This decentralized design ensures the transparency and tamper resistance of transactions, providing higher security and stability.

• Smart Contract Support

Wanchain supports smart contracts, allowing developers to deploy decentralized applications (DApps) on its network, which means Wanchain is not just a cross-chain trading platform, but also supports various financial applications such as decentralized lending, trading, and payment systems.

• Cross-chain asset transfer

Wanchain uses Threshold Key Sharing (TKS) and trustless mechanisms to ensure secure interoperability between different blockchains, allowing assets to be securely transferred from mainstream blockchains such as Bitcoin (BTC), Ethereum (ETH), Polkadot, etc., to Wanchain and execute various applications on it.

• Privacy protection mechanism

Wanchain uses Ring Signature and One-time Account technology to ensure the anonymity of transactions, allowing users to conduct privacy-protected transactions on Wanchain without being traced back to the source or destination of the transaction.

Application Scenarios

As a multi-functional blockchain platform, Wanchain supports various application scenarios, including but not limited to:

• Decentralized Finance (DeFi)

Wanchain provides crucial infrastructure for the DeFi ecosystem, enabling assets to flow freely between different blockchains. Users can utilize Wanchain to participate in decentralized lending, liquidity mining, staking, and other financial activities.

• Cross-chain Payment and Settlement

Currently, most blockchain payment systems are isolated, which limits the global application of cryptocurrencies. Wanchain achieves instant payment and settlement between different blockchains through decentralized cross-chain bridges, reducing transaction costs and increasing liquidity.

• Digital asset trading and exchange

Wanchain allows assets from different blockchains to be traded on its platform, ensuring the privacy and security of transactions. This seamless cross-chain trading capability is crucial for decentralized exchanges (DEX) and NFT markets.

• Blockchain enterprise applications

Wanchain’s cross-chain technology can help enterprises achieve data sharing and asset management across multiple blockchains, reduce business operation costs, improve transaction efficiency, and provide a reliable solution for supply chain finance, medical data management, and smart contract execution.

Cross-chain bridge type

Wanchain provides three types of cross-chain bridges, namely Token Bridges, XFlows Bridges, and NFT Bridges. Here is an introduction to these three bridges:

1. Token Bridge

• This type of bridge uses the ‘lock-mint-burn-unlock’ mechanism.
• It can complete cross-chain transactions without the need for intermediaries or relay networks.
• When assets are transferred from one blockchain to another, the assets will be directly transmitted from the source chain to the target chain.

2.XFlows Bridge

• XFlows is a decentralized cross-chain solution specifically designed to support cross-chain conversion of native assets.
• It leverages Wanchain’s cross-chain bridge technology to provide simple non-custodial cross-chain conversions.
• This method allows for the transfer of assets between different blockchains without relying on centralized exchanges.
  

3. NFT Bridge

• Similar to Token Bridges, NFT bridges also use the “Lock - Mint - Burn - Unlock” mechanism.
• When an NFT is transferred from one blockchain to another, the original NFT is securely locked on the source chain and then a corresponding copy is minted on the target chain.
• The ID and attributes of the NFT will also be completely transferred to ensure their uniqueness and integrity.

These three types of bridges are suitable for different blockchain asset transfer needs, providing flexible and secure cross-chain interoperability.

Token Economics

Wanchain’s native token $WAN is the core of its ecosystem, responsible for network security, transaction fee payment, staking rewards, and other functions.

1. Token Supply and Distribution

Total supply: $210,000,000

Initial issuance: managed by the Wanchain Foundation and funded through ICO.

Token Distribution:

• Team and Advisors: 10%
• Foundation Reserve: 30%
• Node reward: 40%
• Ecosystem Development: 20%

2. Mining and Staking Rewards

Wanchain adopts the Proof of Stake (PoS) consensus mechanism, where users holding $WAN tokens can participate in staking, become validator nodes, and receive staking rewards. Through this mechanism, Wanchain can maintain the decentralization security of the network and provide participants with stable passive income.

3. Trading Fee

All transactions within the Wanchain network require a small amount of $WAN tokens as fees to ensure the stable operation of transactions and prevent the occurrence of network spam transactions.

4. Community Governance and Development

$WAN token holders can participate in Wanchain governance, voting decisions through decentralized autonomous organization (DAO) mechanisms, including network upgrades, fee structure adjustments, and the development of new features.

Future development

Wanchain’s vision for the future and its technical expansion plan are as follows:

• Expand support for more blockchain networks: Continuously add support for emerging blockchains to expand the ecosystem.
• Improve cross-chain transaction performance: Develop more efficient cross-chain bridging technology to reduce transaction costs and increase throughput.
• Introducing Decentralized Autonomous Organization (DAO) governance: enabling community members to participate in governance and determine the future development direction of Wanchain.
• Drive global adoption: Collaborate with enterprises, financial institutions, and governments to drive global adoption of cross-chain technology.

Summary

Wanchain is leading the revolution of blockchain interoperability, providing a secure, efficient, and fully decentralized solution that allows different blockchain networks to seamlessly connect. With the arrival of the Web3 era, the importance of cross-chain technology is increasingly prominent, and Wanchain is at the forefront of this technological transformation. Whether it’s DeFi, NFT, decentralized applications, or enterprise-level blockchain applications, Wanchain can provide strong support, enabling asset circulation and promoting the development of the global blockchain ecosystem. With ongoing technological advancements and ecosystem expansion, Wanchain is poised to become a key infrastructure in the blockchain world.