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Why Wanchain (WAN) Might be a Good Investment

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Wanchain

Recognizing a good investment opportunity in the world of cryptocurrencies can be difficult, especially since there are so many of them, with new ones still popping up all the time. Because of that, when a new opportunity arises, it should not be overlooked. We believe that Wanchain (WAN) may be such an opportunity, so let’s see why.

About Wanchain (WAN)

Wanchain (WAN) closed its ICO back in 2017, with a coin price being at $0.34. Soon after that, its value went up, and it continued to rise all the way to May 3rd of this year, when it hit $9.92, despite the bear market that crippled all the other cryptos.

The coin’s goal is the creation of an interoperable banking system based on the blockchain technology, one that would be a good fit for the new crypto generation. The system would also be able to offer every feature that can be found in a traditional bank. While working on these plans, Wanchain managed to also prove that it is capable of cross-chain interoperability, especially with Ethereum’s blockchain. At that time, its goal expanded to include the wish to connect all of the blockchains around the world into a single network.

However, that is when May came and WAN’s value went down by 91%, and its current price is only $0.88. This has placed it among the worst performing coins, but also one with a lot of potential, considering the heights it reached before crashing down. Many are wondering if WAN can ever achieve its former glory, which is something that depends on what it has to offer. So, let’s take a look at that too.

WAN’s cross-chain interoperability

Wanchain has issued it’s 2.0 update only a month ago, which has made its blockchain interoperational with Ethereum’s blockchain. It should be noted that, while this blockchain did come to be as a fork of Ethereum, it still doesn’t constitute its ERC-20 token. As for the cross-chain functionality, it definitely doesn’t hurt that the two blockchains share a connection. Additionally, the process is made additionally secure by sharing secret keys, smart contracts, and multi-user verification.

That way, ETH can be sent via WAN blockchain, and end up in the form of WETH, which is Wanchain’s equivalent of Ethereum itself. Currently, this is not possible for WAN on Ethereum blockchain, however, if WAN accidentally gets sent to ETH address, it can still be recovered with ease, considering the similarities between the blockchains.

As for the future, the team behind WAN has published a roadmap that shows that they are planning to include interoperability with at least one or two more blockchains before this year ends. Their focus will be on ERC-20 token chains, as well as Bitcoin. In the long run, the project is mostly dedicated to achieving interoperability across the chain, and its ambition is to gather all other chains under one roof.

Now, at first, this might seem overly ambitious, and there are, no doubt, many who believe this plan to not be possible. However, while there are a lot of coins with similar, seemingly impossible plans, WAN has actually created some pretty reasonable milestones that would ensure that its goal is fulfilled. And, if the goal proves to truly be impossible to accomplish, then WAN would simply quietly disappear.

Achieving anonymity

Internet privacy continues to be one of the most valued features online, and that is likely never going to change. Because of that, Wanchain has employed ring signatures, which would hide the identity of transactions makers, and create a completely new, individual address for each new transaction.

Wanchain is definitely innovative, and it claims to be the first one to do a lot of things, including the inclusion of privacy and anonymity functions in its smart contracts. However, a lot of other blockchains claiming the same have already gotten exposed, and it turned out that their ultimate privacy is nothing but empty talk. In fact, such blockchains often end up having a serious lack of privacy.

With such problems and concerns among the users, WAN’s claims will also be put to test sooner or later. Until then, it continues to claim that it can ensure public and private functionality alike.

In Ethereum’s footsteps

WAN’s team is no doubt a capable one, and they have announced their intention to follow Ethereum’s proposal of PoS adoption. They also announce that they might adopt even some additional implementations, like Raiden Network and Plasma.

Since all of the big blockchains are constantly coming up with updates and changes, it will be interesting to see how will WAN follow their evolution. Being compatible with ETH is great, but can the cross-chain interoperability survive as WAN’s partnering blockchains start getting makeovers? That is the real question, and one of the biggest reasons for doubt of the project’s success.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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