On 10th September, Wanchain launched their invite-only trial (Wanchain 3.0) for BTC Incorporation. This is basically the Alpha experimental-net for Wanchain’s 3.0 unveiling, which has been projected to be implemented before January 2019. The Wanchain team stated that they have been exerting remarkable efforts on their invention and are delighted to provide the Alpha testnet in time.
Indeed, Today will stand out as the commencement of one of the most remarkable accomplishments for Wanchain so far.
What is Wanchain?
Wanchain primarily links and swaps value between various blockchain ledgers in a decentralized way. The company employs modern cryptographic techniques to create a non-proprietary cross-chain protocol and a decentralized ledger, which keeps both cross and intra-chain activities.
All types of blockchains can coordinate with Wanchain to create links between various ledgers and execute cost-effective inter-ledger property exchanges. The Wanchain protocol backs both smart contracts and token transfer privacy protection.
Linking ETH with BTC
Apart from Wanchain’s amalgamation with BTC being a huge milestone for the crypto world, this amalgamation will also be advantageous to users of Ethereum-based projects. Once the Wanchain 3.0 is launched, all dApps, protocols, DEX and any other project assembled on ETH will be empowered to bridge the gap between their network and the whole public of BTC operators.
For instance, decentralized operations like Kyber DEX will now be empowered to provide BTC transaction pairs. Extra pairs on decentralized transfers in Wanchain’s Bitcoin Token (WBTC), will enable exponential rises in businesses and liquidity for the crypto world at large.
Linking the World’s Virtual Resources
The intertwined virtual economy is a stage that is taking place as the earth’s resources are tokenized. The main agenda behind this is to ensure the infrastructure vessels of the new virtual economy are not functioning in silos.
The pursued economy ought to be unified and with each blockchain, public and private, empowered of functioning externally in the general blockchain world. The shift towards blockchain interoperability is an essential period in laying the basis for the looming virtual economy.
How Cross-chain Method Functions
A certain sum of BTC can be sealed on its own chain while an initial 1:1 receipt is installed on Wanchain as Wanchain’s Bitcoin Cross-Chain Token (WBTC). The WNBT can be applied in the Wanchain site, for instance in dispersing cross addresses, token creation operations, DEX activities, and liquidity pools. WBTC for BTC redeeming can be done at any time.
Alpha Experimental-net Application Procedure
The Wanchain team acknowledge that the biggest challenge most projects face is ascertaining their platforms. In that connection, the team wants developers from the community to assist them thoroughly asses their platform before the official launch. There are gifts for programmers and developers who successfully recognise bugs in the project.
The partakers will be required to produce their email addresses, their country of origins and their years of experience.