Wanchain and Polkadot. A Short Overview

Wanchain and Polkadot. A Short Overview

By AnonymousChimp | CryptoFundamentals | 31 May 2020


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What is Wanchain?

Wanchain is a Super Financial Market for the New Digital Economy. It aims to build a distributed “bank”. Just as traditional banks are the infrastructure of the current financial framework, Wanchain seeks to build a new, distributed infrastructure of digital assets to form an improved, modern framework. With Wanchain, any institution or individual can set up their own virtual teller window in the “bank” and provide services such as loan origination, asset exchanges, credit payments and transaction settlements based on digital assets. Under the guarantee of “banks” based on the blockchain infrastructure, more people can participate in financial services based on digital assets. To describe it more accurately, Wanchain is a distributed super-financial market based on blockchain.

What is Polkadot.?

Polkadot is a next-generation blockchain protocol that unites an entire network of purpose-built blockchains, allowing them to operate seamlessly together at scale. Because Polkadot allows any type of data to be sent between any type of blockchain, it unlocks a wide range of real-world use cases.By bringing together the best features from multiple specialized blockchain, Polkadot paves the way for new decentralized marketplaces to emerge, offering fairer ways to access services through a variety of apps and providers.

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Interoperability

To understand which project has the most advanced interoperability, you should read this article https://medium.com/@mussino911/blockchain-interoperability-is-wanchain-the-internet-of-blockchains-ab589b0b4660

In summary, the article explain why Wanchain as currently the most advanced interoperability solution. Although, It doesn't mean that the solution on Polkadot is bad, it’s just not as developed yet. As we can see in the graph below, Wanchain seems to have a more complete overall model against Polkadot and other blockchains, but I am sure Polkadot will improve fast with its top tier team and become one of the leader in interoperability

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 Karim (CCO Fusion, XDLT Founder) https://medium.com/@kczrh/digital-assets-hit-the-wealth-management-main-stream-now-is-the-time-to-know-how-much-is-chain-fd35bb09879f

Tokens/coins utilities

Polkadot is designed to encourage active participation in Polkadot by holders of DOTs (DOTs are explained in the “DOTs” section). Active participation in this context involves a holder of DOTs performing one or more of the following roles within Polkadot: Validators: These participants will play a crucial role in adding new blocks to the Relay Chain and, by extension to all parachains, such that parties can complete cross-chain transactions via the Relay Chain. Nominators: these participants may nominate validators to carry out validation work on their behalf by contributing to the security bond of their nominated validators. Collators: These participants will sit atop parachains and provide proofs to validators based on transactions from parachains. Fishermen: these participants are not engaged in the process of validating transactions in the same way as validators or nominators, but rather they deter bad actors by monitoring activity across the platform to determine whether any other participants have acted in breach of the rules.

 

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Wanchain coins are the main fuel of its network, they are used to secure the network, validate transactions, staking PoS, and are used by nodes, · 1.Cross-chain transaction proof nodes (Vouchers) 2. Locked account management nodes (Storeman)3. General verification nodes (Validators).

For me, Wanchain is like a virtual country, all the assets on it will be seen as the GDP, so the bigger the ecosystem, the bigger the GDP, thus the bigger the market cap.“Gross Domestic Product (GDP) is the monetary value of all finished goods and services made within a country during a specific period. GDP provides an economic snapshot of a country, used to estimate the size of an economy and growth rate. GDP can be calculated in three ways, using expenditures, production, or incomes”

As you will see below, Wancoins might also be used to fund STOs (security tokens). They could be stocks, bonds, debt, traditionally illiquid assets, private placements, real estate, fine art, intellectual property, Synthetic asset baskets, or other tangible and intangible assets. We still need to know which currencies will be allowed for funding, but so far we can only see Wancoins. If you remember the ICO bubble in 2017 with Ethereum, you should know that fund raising was the main driver of the ETH price. All the ICOs on ETH created a huge demand for ETH coins which resulted in a major explosion in price. Once the ICO bubble stopped, the ETH value went down the drain very quickly. For now, ICOs are dead and they are not coming back. The IEO was the follow up but it was not enough to create a new bubble. At the end, I expect the STOs to be the next step to merge traditional finance with crypto and it might be the biggest thing that could happen for our space. I’ve also heard that Wanchain was also looking to create or to partners with an exchange platform for STOs just like TZERO. Thus, Wanchain could not only become a bank 2.0 but it could also enable countries (mostly from the unbanked 3+ billions people) to create a new and more modern/improved stock markets.

 

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Conclusion

Polkadot seems to have the hedge from the developers community at the moment but I think once Wanchain SDK will be released in Q2 2020, things might change. Since we don’t know the current price of DOTs, it’s hard to say which one will be the best investment but in my opinion both will be good. At the moment, Wanchain is only trading below 20cents near 20M market cap with 4+ years of funds before even selling their Wancoins.

Polkadot and Wanchain both got strong partners and I think both projects will be in the top of coinmarketcap after the next bull market. Polkadot might even get more traction and be much higher since people are more excited about it. Also, we should not forget that Wanchain and Polkadot was once the hottest ICOs in 2017, but Polkadot still needs to show its true power.

Always DYOR. This is not financial advise, it’s just an article talking about two of the projects that like and own

 

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