Wanchain will realize cross-chain with EOS and integrate more stable coins

——Wanchain will become the bridge connecting Ethereum, Bitcoin and EOS

Excerpted from CCN

Wanchain recently announced at its global community conference that it will realize cross-chain transactions with EOS in the near future, which means that convenient cross-chain transactions will be realized between EOS, Ethereum, and Bitcoin. At the same time, Blockstream’s side chain technology Liquid network also provides faster transaction settlement services for Bitcoin users.

Wanchain officially stated that Wanchain is currently connected to the most mainstream public chain networks, and typical industry applications are running in its ecosystem, and this is only the beginning of Wanchain's road to "linking open finance".

Bridges linking various networks

CCN has previously reported on how Wanchain enabled cross-chain transactions between Bitcoin and Ethereum. Moreover, Wanwei Chain has integrated the LRC pass, which is gradually making decentralized on-chain transactions between different networks possible. Loopring is also actively promoting the establishment of a decentralized exchange (DEX) on Wanchain and is expected to announce plans next quarter.

Wanchain's cross-chain transaction is a non-custodial method, which is different from Kyber Network's use of Wrapped BTC (WBTC), a stable currency anchored to Bitcoin, to achieve cross-chain transfers of funds. WBTC is a custody service provided by BitGo that allows users to obtain their WBTC tokens on Ethereum by locking Bitcoin. When a user purchases WBTC, the merchant will create WBTC for the user and lock the same amount of BTC at the same time.

*WBTC here refers to Wrapped BTC (WBTC), a stable currency anchored to Bitcoin.

Wanchain founder and CEO Lu Xujun said:

“We welcome EOS to join the Wanchain ecosystem. We are very honored to be able to connect EOS's strong dApp community with the Ethereum and Bitcoin networks. At that time, the global developer community and nodes of EOS can also use the Wanchain platform for cross-chain development. ”

Wanchain, a different cross-chain method

From the perspective of Wanchain’s cross-chain mechanism, Wrapped BTC’s cross-chain method is obviously unnecessary. Wallet users holding Bitcoin can lock their own Bitcoins through the Storeman cross-chain mechanism and generate corresponding mapping tokens on Wanchain, which can then be traded and exchanged with other tokens on the chain in a decentralized manner. Therefore, users who use Wanchain for cross-chain are more autonomous. Autonomy, or the ability to decentralize, is precisely the essence of blockchain technology, which is why Wanchain’s cross-chain approach is more popular among blockchain believers.

Integrate more stablecoins

Wanchain will integrate a batch of ERC20 tokens every quarter. At the Global Community Conference on Friday, Wanchain announced the next ERC-20 tokens that will be opened: stable coins USDC and TUSD, as well as BAT. Like most projects, Wanchain's protocol is also open source, so any project based on Ethereum can connect its token to Wanchain. When Wanchain integrates EOS, it means that any project token based on EOS can also be connected to Wanchain.

Traffic portal and autonomous management

Many people must be curious about why cross-chain is needed. There are many answers to this question as well. The first is that cross-chain can increase liquidity. Wanchain provides users with high-traffic portals such as Ethereum, Ethereum-based stablecoins, and Bitcoin as the main entrance to these portals.

Another advantage of Wanchain is that it allows users to manage all their digital assets through only one entrance, and can conduct transactions in a decentralized manner in the future. The ultimate goal of Wanchain is to realize the interconnection of Wanchain, and plans are already underway to integrate more public chains and tokens.

Dan Reecer, Global Marketing Director of Wanchain, said:

“Today is a memorable day for the Wanwei Chain global community. We initiated the first blockchain global community meeting and received attention and interaction from nearly 150 Wanwei community members around the world, achieving positive community feedback. ”

In addition, Wanchain announced to the global community its plan to switch the main network to PoS in 2019. Like Ethereum, Wanchain is also working hard to develop its own PoS consensus mechanism. It is expected to release relevant papers at the end of March, when both institutions and individual users will have the opportunity to participate in consensus accounting. At the same time, Staked.us will cooperate with Wanchain to provide enterprise-level staking services for Wanchain. Staked.us has provided Staking services to well-known companies such as Coinbase.

Original link: https://www.ccn.com/wanchain-integrates-eos-and-adds-more-stablecoin-support

Source: Wanchain