Wanchain 2.0 Initiates Decentralized Transactions for Ethereum
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Wanchain 2.0 Initiates Decentralized Transactions for Ethereum

Wanchain(WAN) has introduced its latest version Wanchain 2.0 that will allow decentralized transactions between Ethereum and its own blockchain. Through the Wanchain platform, users will be able to do Ethereum transactions, including ICO investments can be done immediately with the tokens available through the platform.

On the Wanchain 2.0 these transfers can be done through smart contracts, multi-party computing and threshold key sharing design.

This latest update will allow users to make hassle free transfers of Ethereum for a new token on the Wanchain platform called WETH at a 1:1 value. However, it will possibly take a lot of time before it has comprehensive usage beyond Ether to WETH conversion.

Wainchain made this announcement through their blog post and said,

Wanchain 2.0 is a significant milestone for the entire blockchain space, marking a major step toward the vision of a fully interconnected internet of value.Wanchain 2.0 is the world’s first and only interoperable blockchain with secure multi-party computing, which will eventually allow for seamless integration with almost any blockchain in existence. The platform is now fully connected to the Ethereum blockchain, with the capabilities and development plans necessary to scale.

As Wainchain continues to be integrated with additional blockchains, it is paving the way for a future where individuals and organizations can have access to a decentralised platform which provides privacy protected financial services like digital asset management, loans and credit payments.

Currently, only Ethereum transactions are allowed. However, with time, Wanchain will allow for the seamless integration with other blockchains as well. Wanchain stated that by the end of this year, they are planning to add Bitcoin and other ERC-20 tokens to its platform as well.

Wainchain’s founder and CEO Jack Lu said in a statement,

This is a very exciting time for Wanchain in our vision to reshape the world of digital assets and finance.

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Pallavi Janiani

Pallavi Janiani

Content Writer
I am studying Business and psychology at the university of Minnesota. Apart from learning about how the economy and the human mind works, I spend my time dancing with my bollywood fusion team, reading, writing, traveling, usually with a cup of coffee in my hand.