Wanchain Is Solving Blockchain Interoperability | HUGE DeFi Crypto Project!
Because wanchain is close to achieving what many field d5 truly needs right now, and that, of course, is cross chain interoperability, a crucial component of the multi chain, blockchain market structure. In fact, just take a look at this bridges like wanchain, have become so crucial for blockchain interoperability, that at present over 7.7 billion dollars are locked in bridges to ethereum, and so in this video were going to take you through the fundamentals of wanchain. What are its future plans? Why are we excited about wanchain and why its a project that ought to be on your radar as well and stay tuned, because at the end of this, video were going to unveil a realistic price prediction for one chain: ticker w a n Applause? Hey guys, i am maddie, and this is altcoin buzz. We are a crypto research, investing company weve been early investors in ethereum, binance, cardano, crypto.com engine matic network chilis, quant network, polkadot, uni swap and, of course, many other 100x projects. If you guys dont want to miss out on the next potential altcoin gem be sure to like this. Video subscribe to our youtube channel altcoinbuzz also hit the bell to receive notifications. That way, you are alerted every time we publish a new video and lets face it. Cryptocurrency videos like this one are often time sensitive. Of course, as you guys know, none of this is financial or investment advice. If you do choose to invest, as i always like to say, we wish you very well.
There are risks associated with investments in this space, but again this video, not financial or investment advice. Okay, so weve been talking a lot lately about future blockchain trends in our videos, projects that will lead such trends will have a very bright future, at least thats. Our opinion and weve already seen sectors like defy nfts thats, non fungible tokens and the metaverse trending. So the question is what is next well a bridge solution that breaks the silos in the blockchain space and allows seamless transfers of value and information between two blockchains thats. The next big thing, in our opinion, it should be easy to use, it should be decentralized and it must integrate multiple blockchains and truly hold the power to create cross chain. Dapps decentralized applications of the future and wanchain at least right now looks to be a front runner its way ahead of its competitors and its becoming extremely popular for good reason. So why are we so excited about wanchain? Well, ever since the ethereum network became so congested, and many of you guys that are using it know what im talking about. This obviously resulted in high gas fees while theres been this constant focus on layer, 2 solutions, as well as on alternate block chains and weve. Already seen, tokens of projects like cardano, solana, avalanche and phantom, which have been pumping lately and polka dot, will join the group soon thats what we feel while such projects are building a useful ecosystem of innovative dapps.
There are a few problems which these blockchains are unable to currently solve individually. For example, movement of funds lets say that, in order to move funds from ethereum to avalanche, a traditional user has to move funds from his or her metamask ethereum account to a centralized exchange. Like binance and then send it to avalanche well, this process is too complicated, tedious, costly error prone and, at the end of the day, its still centralized siloed blockchains might not get easy access to the latest innovations in other blockchains and developers are unable to collaborate cross Block chain, while there are one off cross chain bridges available, they do not really scale and provide an integrated solution linking multiple bridges. Hence, users still need to use multiple bridge platforms and, ultimately, to have a global network of blockchains. All blockchains need to be interconnected. Imagine all such blockchains as individual houses and the street connects each of the houses that street in a sense or that network of streets is one chain. It is the highway. It is the infrastructure that transfers value from one block chain to another. One chain solution is built upon the pillars of cross chain, smart contracts and privacy lets. First talk about the cross chain. Bridge wanchains primary product is a powerful, decentralized, blockchain interoperability solution. Earlier this year, in 2021, juan chain launched the worlds first decentralized, btc, eth, thats, bitcoin, ethereum direct bridge one chains. Decentralized bridges currently connect the following blockchains, so you have bitcoin ethereum one chain: eos binance, smart chain, xrp, ledger, litecoin moon, river avalanche chain and the much anticipated polka dot bridge, which will be announced very soon.
Okay, so, for example, lets say: alice a user wants to move bitcoin to the ethereum chain in order to participate in yield farming. Well with the one chain bridge, she can number one lock bitcoin in the bitcoin blockchain two issue proxy tokens in the ethereum chain. Three use the proxy tokens abundantly in dapps through wanchains cross chain ecosystem and four alice can burn the proxy tokens and get back the original btc in bitcoin chain. All in a decentralized non custodial way lets take another example of say bob a developer. He can use one chain to create fully decentralized cross chain applications like cross chain, decentralized exchange, cross chain, mobile payments, connected enterprise, blockchain and other examples, as well were going to talk more about such applications and how to earn from them. In the ecosystem section of this video okay, so that was the cross chain bridge lets now discuss smart contracts watching blockchain is based on ethereums code base and allows the deployment of smart contracts adapt can assess a digital asset from any blockchain in wanchains blockchain and using This feature wanchain, is slowly creating an ecosystem of dapps and lets mention privacy as well. One chain also has a privacy layer to enable any private transaction. One chain has a big team of over 50 members and 20 advisors, its headquartered in singapore and the teams are located in china and the usa, while the other team members are spread around the world in asia, africa and europe, so very global in terms of its Representation, the team is comprised of phds with applied mathematics, degrees and highly experienced software engineers, cryptographers computer scientists, financial experts and media and community managers.
So some pretty intelligent people – ceo jack lew, has more than 22 years of technical experience. He was previously the cto thats chief technical officer of the very popular blockchain, startup factum and wanchains vp of engineering. Dr waja zhang is one of the leading researchers working on the future of cross chain. He is the regional head of china of enterprise ethereum alliance and his co chair alongside consensuss peter robinson of the enterprise ethereum alliances cross chain. Interoperability work group hows that for a mouthful, lets look at tokenomics here, so one thats w a n is the native utility coin of one chain. A total of 210 million tokens are available, 92 of the tokens are already circulating, and that means the potential of a major dump is very low and taking a look here at the last 90 days, the last three months, one chain has been seeing a steady increase In price now, at the time of this, recording the whole of the market is kind of down, but thats. Okay, when, in doubt, zoom out take a look at the macro trend and this appreciation over the course of these last three months is mainly because of wanchains steady delivery. Improved 2021 roadmap, which were going to take a look at in just a sec and focused marketing. The one token is mainly used for securing one chains: pos block chain, proof of stake, block, rewards cross chain, bridge node, staking rewards and paying transaction fees want chains.
Pos, validator nodes have approximately 60 million won lock. That represents about 30 percent of the total supply, and this will potentially increase with increased popularity of one chain and sticking a validator node currently earns you. Eight percent rewards actually between eight and thirteen percent. All right lets talk ecosystem, so one tokens are accepted by a wide range of applications. One swap across chain dex, for example, enables one based liquidity mining. One lend, which is another decentralized lending platform, allows users to stake. One tokens as collateral. One tokens can also be used in zookeeper, an nft based gamified yield farming platform and a project that weve looked at in the past. If youre not familiar with that video go back and check it out. Well, link to that in the description below phoenix finance, decentralized derivatives, marketplace, jacks pot is a no loss. Lottery game built on one chain and instant cross is a semi decentralized cross chain solution to bypass cross chain transaction fees using the one chain ecosystem you can earn multiple types of yields, for example, stake in hive on one swap to earn a share of 1001 each Week, you can also earn by providing liquidity on one swap farming pairs or earn by providing liquidity on phoenix finance mining pairs, and you can also earn by compounding when you want to lend out your assets on one lend, which is one chains compounding dap. Lets talk, growth and longevity. The wanchain team successfully developed the worlds first entirely decentralized, bitcoin to ethereum direct bridge and produced a decentralized direct bridge between the binance smart chain and ethereum in the first few months of 2021, then in april the one chain team launched cross chain bridges connecting xrp ledger.
Wanchain and ethereum onechain plans to expand the number of chains connected by their decentralized cross chain technology in 2021, as well as foster the development of applications that benefit from their technology. So the plan is to incorporate several new public chains as well as numerous new assets, and another major focus will be the growth of the one chain developer. Community one chain will also introduce the new layer 2 to layer 2 direct bridges, polka dot and the dot token, as well as other substrate based tokens, will be integrated by one chain in the future, and also one chain will continue to integrate other new erc20 tokens. In order to make them available for usage in the wanchain defy ecosystem, okay lets talk competitors well, the cross chain bridge solution is still a niche field. There have been products like ren who have been gaining popularity recently. Ren is able to bring bitcoin bitcoin cash and zcash on ethereum, and then you also have upcoming projects like darwinia that are trying to solve the same problem. So this one has been able to create bridges between ethereum darwinia, heco chain, polygon and theyre, currently working on eos, kusama and others. However, nobodys able to capture a major market share just yet the market is really only just getting started its in the development phases, but once this space matures the scope really is huge. Theres massive potential here and one chain with a broader scope of service, is in a better position to win out when it comes to that market.
Share. Okay lets talk about wanchains token price, so wan is still down at the time of this recording about 72 percent. From its all time, high with a fully diluted market cap of 200 million, one chain, in our opinion, has a lot of room to grow. So as we record right now, one thats w a n sits just below a dollar at 99.4 cents and as per our recent technical analysis, if one can turn this zone into support, we could start seeing a move towards a dollar, twelve cents, a dollar thirty three Cents, a dollar sixty, seven cents, two dollars: twenty three cents, two dollars: seventy eight cents and three dollars; thirteen cents. All of this, of course, based on fibonacci levels, but failure to break this resistance could lead to a drop further down towards about 77.5 cents and a little further to 65.8 cents. So thats all we have for today and, as you can tell, we are excited about wanchain. We feel that this project has a huge amount of potential. It all comes down to how theyre going to deliver in the weeks and months ahead, well be keeping a close eye on the initiative so guys in this video. Hopefully you learned a lot about wanchain. Our team is endeavoring really to deep dive and sink our teeth into these kinds of projects that were excited about spoiler alert. We invest personally at altcoinbuzz in those projects that excite us and again not financial advice or investment advice.
But if you do choose to invest, we wish you only the very best of luck. If you found this video useful be sure to hit the thumbs up. Button subscribe to altcoinbuzz thats. Our youtube channel also hit the bell to receive notifications.