Wanchain 3 Alpha Testing Launches as Conduit between Bitcoin and Ethereum Blockchains

2018-9-23 01:33

Wanchain 3.0, Now in Alpha Testing, Will Be a Conduit Between Bitcoin and Ethereum Blockchains

WanChain is a blockchain venture that is mainly focused on facilitating the interoperability of blockchains. Simply put, it works towards the seamless linking of blockchains, thus enabling unhindered communication between both blockchains.

At present, blockchain seems to exist in separation and therefore it is not in a position of communicating with others, majorly as a result of the exceptionality of each blockchain. In this regard, WanChain used cryptographic concepts which were built recently in order to establish a non-copyrighted cross-chain protocol as well as the disseminated ledger that registers both cross-chain and intra-chain business dealings.

This basically implies that WanChain wants to ensure that there is a possible transfer of properties between diverse blockchain ledgers in a distributed manner. The WanChain protocol works in support of smart contracts, as well as virtual asset exchange confidentiality protection.

The WanChain Cross-Chain

The Wanchain cross-chain aims at making it possible for the exchange of any virtual asset from any blockchain into a matching proxy asset on the platform’s blockchain. This will go a long way in enabling the expansion of cross-chain decentralized applications. The cross-chain is also in the process of giving their support to all protocol virtual assets as well as ERTC-20 virtual assets.

The Release of WanChain 3.0

On September 10th, 2018, Wanchain declared that the Alpha test net has gone live. Wanchain 3.0 is the conduit that connects Ethereum and the Bitcoin blockchains. As a result of adding Bitcoin to its interoperability, investors with virtual assets are now in a position of transferring their assets from the Bitcoin blockchain to that of Ethereum, and vice versa.

The impact of this incorporation is that virtually any decentralized application or protocol which is running on Ethereum will now be in a position of being linked to Bitcoin. For instance, devolved exchanges that exist on the Ethereum blockchain will be in a position of having to trade in Bitcoin pairs.

How it works

In order to have Bitcoin connected through WanChain, a specific amount of BTC is locked on its chain, while at the same time, a proxy virtual asset (1:1 with Bitcoin), and called WBTC is unveiled on WanChain.

Consequently, the WBTC can then be utilized without a glitch across the Wanchain bionetwork. At any time a user desires, the WBTC is then able to be exchanged back to BTC. This is irrespective of if the consumer was not the person who locked the BTC for the WBTC.

Conclusion

The team behind WanChain is way ahead of time following the release of WanChain 3.0. This is an indication that the team is hard-working even as they seek to deliver the vision of the firm. After it is fully unveiled, the team will now put a lot of focus on incorporation with other private chain, which is expected by end of next year.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Wanchain (WAN) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.1831
Капитализация $0 Rank 99999
Цена в час новости $ 1.0271 (-100%)

blockchains between wanchain blockchain ethereum alpha testing

Источник: bitcoinexchangeguide.com

blockchains between → Результатов: 41


The Most Interesting Debate In Corporate Governance Is Happening In Real Time And Most People Don’t Even Know About It

The most interesting debate in corporate governance is not happening in the boardroom or  between activist owners and boards. Rather, it’s happening all across a field of public (aka “permissionless”) blockchains, as communities mostly made up of strangers rapidly realize they are stakeholders in multi-billion-dollar ecosystems.

2018-8-1 06:18


Фото:

Promoted: The Future of Online Shopping Is Powered by Spl.yt — A Decentralized E-Commerce Protocol

As a rapidly growing business sector, e-commerce continues to open up new avenues for exploring, comparing and purchasing products worldwide. Spl. yt, a smart contract protocol, aims improve the e-commerce system for buyers and sellers by automating functions currently performed by “middlemen” marketplaces like Amazon, eBay and Alibaba.

2018-7-16 19:45


Фото:

PR: Essentia.One to Release an Interoperable Multi-Chain dAppstore

The first step towards blockchain interoperability The crypto world took a giant leap forward this week with Essentia announcing their multi-chain passwordless dAppstore. This innovation has led many to believe the future of interoperability between blockchains and decentralized services is not as far off as originally estimated, here’s why.

2018-6-12 12:30


Фото:

Essentia.One to Release World’s First Interoperable Multi-Chain Dapp

The crypto world took a giant leap forward this week with Essentia announcing their multi-chain passwordless dAppstore. This innovation has led many to believe the future of interoperability between blockchains and decentralized services is not as far off as originally estimated, here’s why… The First Step Towards Blockchain Interoperability DApps are proving beneficial for many industries, but they notoriously lack interoperability.

2018-6-12 05:30


Фото:

On Radical Markets

Recently I had the fortune to have received an advance copy of Eric Posner and Glen Weyl’s new book, Radical Markets, which could be best described as an interesting new way of looking at the subject that is sometimes called “political economy” - tackling the big questions of how markets and politics and society intersect.

2018-7-21 04:03


Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Maker whale activity surges by 1400% - Time for MKR's price to break out?

Large transaction volumes for Maker rose by over 1,400% in just two days  Despite rising whale activity, technical indicators and on-chain metrics flashed mixed signals for MKR  Maker (MKRThe post Maker whale activity surges by 1400% - Time for MKR's price to break out? appeared first on AMBCrypto.

Is Ethereum set to outperform Bitcoin? Key data suggests...

Analysts predicted that Ethereum could outperform Bitcoin due to key indicators. Ethereum spot ETF inflows and ascending price channels indicated potential price targets up to $10,000. EtherThe post Is Ethereum set to outperform Bitcoin? Key data suggests... appeared first on AMBCrypto.

QNT's latest breakout can push altcoin's price to THIS level...

QNT's breakout from its descending trendline and bullish indicators signaled potential gains to $229 On-chain metrics and declining exchange reserves highlighted growing demand and reduced sellThe post QNT's latest breakout can push altcoin's price to THIS level... appeared first on AMBCrypto.

XRP's $1 at risk? As trading volume drops 77%, concerns rise

XRP's $1 milestone seemed uncertain, as daily active addresses declined significantly. Ripple's trading volume dropped from almost $3 billion to around $207 million. After months of consolidThe post XRP's $1 at risk? As trading volume drops 77%, concerns rise appeared first on AMBCrypto.

NEAR rallies 12% in 7 days: Is $8 on the cards?

NEAR traded at $5.79 at press time, gaining 12% in seven days with $712M daily trading volume and $7B market cap. Futures Open Interest dropped 5% while TVL hit $260M, signaling steady ecosysteThe post NEAR rallies 12% in 7 days: Is $8 on the cards? appeared first on AMBCrypto.

TRON's USDT dominance - Here's what that means for TRX's price

TRX recorded gains of over 26.17% in the last 30 days TRON's USDT weekly volume surpassed 150 billion - A sign of strong adoption TRON, at the time of writing, was valued at $0.1986 with a mThe post TRON's USDT dominance - Here's what that means for TRX's price appeared first on AMBCrypto.

CVX crypto soars 20% in 24 hours - Is $5 the next target?

CVX crypto pumped 83% on the 19th of November; will the uptrend continue?  A notable whale could have triggered the wild upswing, per an analytics firm.  Convex Finance’s native token, CThe post CVX crypto soars 20% in 24 hours - Is $5 the next target? appeared first on AMBCrypto.