Wanchain, and its native token WAN, is a blockchain ecosystem that targets the financial industry by providing smart contracts, cross-chain transactions and privacy mechanisms. It is a new distributed financial infrastructure that connects various blockchain networks together in order to exchange value. WAN was the world's first blockchain to feature cross-chain features and interoperability with the Ethereum platform through secure multiparty computing. Furthermore, the project is on schedule for Wanchain 3.0 that will be interoperable with the Bitcoin network. This will allow the exchange of digital assets across various blockchains including Bitcoin and Ethereum, resulting in one step closer towards a new financial structure that involves the interconnection of all blockchains.
ICO start date: 2017-10-03
The Wanchain token launched with an ICO in October 2017, and the interest in the project was significant and the ICO itself was sold out in one day. The team that founded Wanchain was lead by Jack Lu (Current CEO) and Dustin Byington (Ex President) that have prior experience in the blockchain space with Co-founding Factom and Tendermint. The company is characterised as an international company with individuals all over the world and established offices in Austin, Texas and Beijing, China. The WAN token began trading 23rd of March 2018 on Binance, and is now currently tradable on Binance, Huobi and Kucoin. In August 2018, it was the 70th largest cryptocurrency company when looking at the total market capitalisation, which is a decrease from its usually place within the top 50.
More information on the project can be viewed through the company's whitepaper: https://wanchain.org/files/Wanchain-Whitepaper-EN-version.pdf
Wanchain has currently developed their own blockchain with mainnet that went live 18th of January, 2018. This means that all tokens have been swapped to the native Wanchain tokens (WAN) that are compatible to their blockchain. The final date of doing this was August 23th 2018, which means that all tradable tokens on all exchanges are currently the native tokens.
Wanchain offers a blockchain that is incorporating cross-chain transfers of various assets through the connections of setting up accounts from different blockchains while providing a framework and fundamental layer for financial applications on digital assets and currencies. Furthermore, it is also a blockchain network that can operate sufficiently by itself and not solely perform cross-chain features including transactions and interconnectivity. The native token WAN has multiple features on the blockchain such as supporting intelligent smart contracts and facilitate privacy protection mechanisms for transactions. It is first of its kind to provide all features simultaneously.
The team noticed a demand for ecosystems that provide the necessary flexibility and multiple features to real-life enterprises and new projects. Moreover, comes the inconvenience and impracticality of separate blockchains that were not able to communicate with one another. Wanchain saw potential to tackle these problems without compromising other essential features, which is the fundamental reason for why the Wanchain ecosystem is supporting interoperability, smart contracts and privacy.
Wanchain planned their token sale (ICO) on 4th October 2017, with a hard cap $36 million dollars. At the time of the ICO, the price of 1 WAN = $0.34. The token sale ICO was completed in 12 minutes, collecting the entire hard cap.
- Total issue of tokens: 210 000 000 WAN.
- Sold on ICO: 107 100 000 WAN
- For the project team: 42 000 000 WAN
- Wanchain Fund: 39 900 000 WAN
- Network support: 21 000 000 WAN
Wanchain has a long list of partners including the Interoperability alliance with ICON and Aion which can have significant impact on the blockchain industry, and additional ones with PundiX, MakerDAO, etc. These partnerships are based on numerous areas and are set in-place to facilitate the future technological development and growth of the ecosystem, while contributing to the overall Wanchain Ecosystem. This can be done through various ways including university collaborations, infrastructure projects and financial applications.
WanLabs is a blockchain accelerator for the Wanchain ecosystem, which facilitates the growth and development of top blockchain projects that tackle real-world problems in the financial industry by utilising Wanchain’s unique cross-chain and privacy features. These projects will be the core foundation of an interconnected ecosystem that enhances the digital economy and the utilisation of digital assets in the future. Current projects on WanLabs are CryptoCurve, Freedium and Theia Wallet. The range of projects on WanLabs will continue to grow as the ecosystem develops and evolves moving forward.
There will be more WanLabs projects being announced as the ecosystem evolves in the future, and the team is continuously working with great projects from numerous continents and continents to on-board onto WanLabs and the Wanchain Ecosystem. You can read more about the current WanLabs projects on Wanchain's social media and monthly newsletter.