Thanks for stopping by to read my complete Wanchain WAN Coin Review!
Whether you are brand new to crypto or you’ve been around since the beginning. We should be happy that companies like Wanchain exist.
The company is focused on providing decentralized cross chain transactions in a way everyone can use them.
Is Wanchain worth adding to your Crypto Portfolio? Lets see!
Wanchain – WAN Coin Review
Wanchain (WAN) was a Chinese ICO founded by Jack Lu. This is the same man that brought Factom back in 2014. After looking at Wanchain I must say I’m extremely impressed and will be very bullish when it hits the exchanges (not financial advice).
Some people are actually getting the spelling confused with ‘Onechain’ when it’s in fact ‘Wanchain’ and they are basically competing with Ripple.
When I first started looking at the company first thing that caught my eye was their team. ABSOLUTELY STACKED! Many of them being rich with encryption, software development and blockchain experience. They have also put together a powerhouse of a marketing team.
This combination is paramount to have a chance at success.
According to Olive Birch, Wanchain community manager, they are looking to address the problem of value transfers between ledgers or blockchains. They are looking for a widely spread blockchain technology applying digital applications.
If that went a bit over your head no worries. I had to ready over the White Paper a couple times until if finally made some sense.
It’s basically a distributed ledger system for cross blockchain payments (more on this in a bit).
According to their white paper they plan to achieve this by pursuing three things.
Here they are:
- Cross-chain asset transfer
- Transaction privacy protection
- Functional accessebility
So these things are intertwined and ultimately enable more people to interact with different blockchains in new ways.
Wanchain Team – Factom
If you’re not familiar they basically have the Factom team. Factom is a current cryptocurrency.
If you were to invest into Factom back in October 2015 the coins were going for 0.21 Cents. They even went down a bit over the course of the month to lows of Today they are approaching $50 USD per coin. Just to show you guys how well they’ve done so far.
Factom is up over 10% just today and their market cap is $422 million and they are number 65 on coin market cap.
So in basically two years you would of had a huge return on your investment.
For example lets say you invested $800 and bought 10,000 coins at $0.08 cents. Today that would be worth around $484,000 USD.
Are you starting to see the big picture here? Even if you invested when Factom was $1 and it went to $48 still a huge return.
This same team is behind the Wanchain project! So in my own opinion anyone from the Factom project is already an All Star in my book just by default. I’m not just talking about a White Paper and prototype.
The Wanchain team has already had success in the cryptocurrency space which is a huge plus.
Wan plans include exchanging different cryptocurrencies through their decentralized cross-chain transaction protocol.
What really caught my eye aside from their team was the cross-chain transactions coupled with privacy. Other companies have tried cross-chain but not with the privacy features of something like Monero and single use accounts.
Wanchains approach has broken away from both centralized and decentralized exchanges. Although decentralization is always better then their centralized counterpart.
Wan has completely removed the third party where most exchanges still rely heavily on them.
If you would like to dive a bit deeper I would suggest reading over the Wanchain White Paper. I’m just trying to give you an overview and show you the value or such a coin.
Wan goes over the cross-chain in detail and how their privacy features work.
With Wan individuals will be able to create deposits and loans with different cryptocurrencies. They are at least opening the door for that to happen. It will be interesting to see how that plays out.
While at the same time reducing counter party risk.
The Wanchain platform will also allow for digital asset transactions using cryptocurrencies as a medium. Developers will be able to create applications that can work on different blockchains like Ethereum and Bitcoin.
Just recently Wan has released Wanchain 1.0 onto the net. You can now check out their wallet, privacy features and block explorer.
Wanchain will also be implementing the multi currency wallet around June of 2018. with much more to come.
The first crypto Wanchain will be integrating with is Ethereum. Looks like Bitcoin will be second in line.
Sometime in 2019 we can expect interactions with other private chains.
When coins are used to pay network fees they will also insure cross-chain transactions.
Because the coin is directly related to cross-chain transactions. The more of these cross-chain transactions that occur will in turn drive up the value of the Wanchain coin value. I don’t know exactly how it works but so far it’s pretty fascinating.
Wanchain – Bottom Line?
As you can see on their roadmap now it’s a waiting game for Wanchain.
There are some important things you should know before purchasing Wanchain coin.
Lets say you were interested in purchasing some Wanchain coin.
Wanchain had a massively successful ICO that sold out quickly. If you weren’t able to get in on the ICO you can always try EtherDelta.
EtherDelta is a decentralized exchange that lets nearly all ERC20 tokens. It is also notorious for begin a pain to navigate and slow to make trades. But it is also for this reason EtherDelta is also a chance for you to purchase a promising token before it hits major exchanges.
If you were planning on grabbing up some Wan coin on Ether let me stop you right there.
If you were able to get in on ICO (which I was not) and you have a Wanchain wallet you should have no problems. You will need to verify with EtherDelta that you indeed own the wallet.
Those who purchase the tokens on EtherDelta are only purchasing pure speculation of the price. You will not be able to use those tokens on the actual platform.
Personally I would suggest keeping an eye on the Wanchain twitter account for announcements. They also have other options to contact their team.
There is a lot of hype around the Wan coin and for good reason. The team behind this coin is nothing short of amazing. Just the fact it’s Factom behind this project makes it worth the risk for me.
Whether you know me or not I will say this. I never hype anything up. Personally I don’t own any Wanchain tokens but I’ll be grabbing a good amount as soon as they hit the exchanges.
I’ve been watching the development over the past few weeks. But like the old saying goes. Don’t thank me if you make money don’t blame me if you lose money. I try and present you with some useful information that I think is going to add value. But it is totally up to you on what action is it to take.
Nothing is 100% however this is a coin that can absolutely moon. It’s not missing anything. My advice is this. And remember I am not a finanicial advisor. If you can get this coin for under a $1 it’s well worth the risk. Looks like Wanchain could be a big one for sure.
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