Wanchain (WAN) Cryptocurrency Platform
Wanchain (WAN) is a cryptocurrency that was launched via an ERC-20 initial coin offering (ICO) in October 2017. ERC-20 is a popular, easy, and secure way to create a new cryptocurrency by issuing a token with the Ethereum protocol. These ERC-20 tokens from the ICO are to be exchanged for the official WAN cryptocurrency that has its own distinct blockchain, and this process is ongoing currently.
51% of all coins (106 million) were distributed to investors during the ICO, with 49% of coins (104 million) being held by the developers. This tremendous amount of coins being held by the developers makes Wanchain a risky investment since the developers can sell their coins at any time and suck money out of the market. Despite this risk, each WAN is now worth $6, yielding a market cap of $637 million which is the 30th highest out of the thousands of different cryptos. Combined with daily trading volume of tens of millions of dollars, this indicates Wanchain is popular, widely used, and important to know about if you are a crypto enthusiast, investor or trader.
Distributed Financial Market
Wanchain’s primary goal is to be a distributed super financial market that uses blockchain-based technology. The platform allows for anyone to set up their own virtual teller window which can provide loans, asset exchange, credit payments, and settle transactions. Assets can be traded across blockchains using Wanchain, such as Bitcoin, Ethereum, all of the ERC-20 tokens, etc.
All digital asset trading is decentralized and cryptographically secure, which is a major improvement over trading on centralized exchanges where your money can be seized and your identity compromised. The crypto-platform also integrates smart contract technology with a built-in virtual machine. Decentralized financial applications can be built on top of this platform, which has the potential to revolutionize banking.
Giving Financial Freedom and Power To the People
Applications built with Wanchain aim to give freedom back to the people to bank how they want to, rather than being fully controlled by centralized banks. This is also good for people who are declared unbankable or who destroyed their credit, since anyone can open an account on this platform and regain banking freedom.
Transactions using this network are completely anonymous, even more so than Bitcoin. Transaction amounts are obfuscated, and receivers can use optional one time addresses. Ring signatures give total anonymity to the sender of a transaction. This platform also uses proof of stake (PoS), which is an energy efficient mechanism to maintain and secure the network. Users receive WAN for staking coins in their wallet, since by doing so, they participate in verifying network transactions.
Considering the innovative blockchain-based decentralized financial technology introduced by Wanchain, combined with its large market cap and trading volume, it is likely a good idea to keep some WAN in your cryptocurrency portfolio.
This is not advice. Advice should be accepted by your chosen legal counsel only and financial advice should come from a licensed or certified financial professional. As always – do your homework and make decisions based on your own education. Seek information and look into projects before adding to or diversifying your portfolios.