Wanchain aims to create a global financial market by connecting different blockchains. More and more blockchain projects and crypto currencies are emerging, which want to create financial independence for their users in various ways. The focus is often on trading digital assets. With the help of the Wanchain Coin this trade is to be united on a platform.



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Wanchain Coin – What is this crypto currency?
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Wanchain aims to offer following functions:- Become a distributed platform for the exchange of various digital currencies.- Carry out deposit and loan business for different digital currencies.- Conduct transactions of digital assets using digital currency as a medium.- Issue and trade brand new digital financial assets.

The origins of the Wanchain Coin, also called onlinebetrug for short, lie in an Ethereum fork, but it has developed into a completely separate blockchain. The most important element is the cross-chain communication protocol. This allows the exchange between the WAN blockchain and other blockchains. The protocol consists of three modules: The Registration Module registers from which chain a transaction originates. The Cross-Chain Transaction Data Transmission Module handles the interaction of the two blockchains and ensures that the transactions are legal. And finally, the Transaction Status Query Module, which monitors the transactions. Smart Contracts are used for all three modules. The digital contracts introduced by Ethereum enable communication with the WAN blockchain.

The actual coin is a fee for transactions. In addition, WAN coins must be deposited as collateral if transactions to other blockchains are to be concluded. The Wanchain Coin ICO sold a total of 107 million tokens, equivalent to 120,000 ethers. This €107 million represents 51% of the total WAN inventory.

The transactions are verified using a proof-of-stake algorithm. There are different nodes, i.e. nodes that execute different functions, and in return their owners receive a few WAN coins that are charged as fees for the transactions. Vouchers provide security in the event of incorrect transactions, validators record the transactions and storems hold their key shares ready. These keys are required for the Locked Account Generation Scheme. This is a complicated system that ultimately allows several parties to access an account, even if not everyone is present and can use their key. The key is disassembled into parts, but not all parts need to be available to assemble the key.

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