What is Wanchain?

Wanchain is a blockchain project designed to connect and exchange value between different blockchain ledgers in a distributed manner. It uses a non-proprietary cross-chain protocol and a distributed ledger that records both cross-chain and intra-chain transactions, supporting smart contracts and token exchange privacy protection. The system is intended to integrate with public, private, or consortium chains to perform low cost inter-ledger asset transfers, and it uses a “virtual teller window” concept for services such as loan origination, asset exchanges, credit payments, and transaction settlements based on digital assets.

Wanchain’s key and fund security for multi-party transactions uses a Locked Account Generation Scheme based on Shamir’s Secret Sharing, with “Storemen” maintaining key shares for locked accounts. Transaction execution can proceed with a minimum number of shares, and transfers using a locked account are carried out via the original chain for easier integration. The Wanchain Foundation is a non-profit based in Singapore with presence in Austin, Texas, founded by Jack Lu; Dustin Byington serves as President. WAN tokens were initially distributed as ERC-20 tokens to ICO participants, and later became exchangeable for tokens on the Wanchain mainnet.