Wanchain is both a sustainable Layer 1 PoS blockchain and a decentralised blockchain interoperability solution. The Wanchain Layer 1 PoS blockchain is a full Ethereum-like environment that works with industry standard Ethereum tools, DAPPs and protocols. Wanchain uses a Proof of Stake consensus algorithm called Galaxy Consensus that leverages a variety of cryptographic schemes including distributed secret sharing and threshold signatures to improve random number generation and block production mechanisms. Galaxy Consensus, developed by world-class researchers and academics, is a continuation of Cardano’s Ouroboros.
Wanchain bridges are decentralised, direct, non-custodial bridges that connect both EVM and non-EVM networks without requiring any centralised intermediaries. These bridges use a combination of Secure Multiparty Computation (sMPC) and Shamir’s Secret Sharing to secure crosschain assets. Currently, more than 15 Layer 1 and Layer 2 networks are connected by Wanchain’s wide area network of blockchains.
Today’s blockchains are trying to create something new, but too many are simply repeating the mistakes of the past. Each blockchain — or in some cases, a cluster of blockchains — exists as a siloed, isolated networks that doesn’t feel connected to Web3 or the future. Wanchain believes that the point of Web3 is to make peer-to-peer interactions the essence of a networked society. And we believe that the point of a networked society is to enable the trustless and permissionless exchange of information.
So, the problem we are trying to solve is: How do we create something that unifies everyone and everything?
The answer? By creating something truly decentralised and interoperable. A wide area network of blockchains.
Wanchain’s PoS Validator Nodes reach consensus using a proprietary Proof of Stake consensus algorithm called Galaxy Consensus. It is a continuation of Cardano’s Ouroboros. Nodes need to stake $WAN tokens before they can validate transactions on the network. For detailed information about the Galaxy Consensus, please read the whitepaper.
Wanchain has been building its crosschain infrastructure since 2017. In early 2021, it launched the world’s 1st decentralised Bitcoin — Ethereum direct bridge. Wanchain offers decentralised, non-custodial bridges connecting:
- Avalanche C-Chain
- BNB Chain
- OKC (OKX Chain)
- Polkadot Relay Chain
- XDC Network
- XRP Ledger
All of Wanchain’s decentralised crosschain bridges are supported by unified decentralised collateral pools, maintained by Wanchain’s Bridge Nodes.
Note: More networks are always being added to our wide area network of blockchains. Please visit https://www.wanchain.org/ for an up-to-date list.
In addition to regular PoS Validator Nodes, Wanchain features Bridge Nodes, sometimes called Storeman nodes. Bridge Nodes are responsible for performing and verifying crosschain transactions.
Bridge Nodes must all stake WAN tokens as collateral. All of Wanchain’s different crosschain bridges are supported by this unified decentralised collateral pool.
At any given time, there are 25 active Bridge Nodes. Together, they form the Bridge or Storeman Group. The Bridge Group is re-elected on a monthly cycle.
Wanchain offers multiple different kinds of crosschain bridges: Direct Bridges, Layer 2 Bridges and NFT Bridges.
Most of Wanchain’s Direct Bridges use the lock-mint-burn-unlock method. When a user initiates a crosschain transaction, the Bridge Group locks the original asset on the source blockchain before minting a wrapped token on the destination blockchain. At any time, the user can burn the wrapped token to retrieve the original asset.
For example, if a user wants to move 1 ETH from Ethereum to Wanchain, 1 ETH is first locked on Ethereum before a new token — let’s call it wanETH — is minted on Wanchain. At any time, 1 wanETH can also be burned to retrieve 1 ETH.
Layer 2 Bridges use decentralised liquidity pools to bridge assets. With this method, both the source and destination blockchains have a pre-existing pool of assets locked in an account controlled by the Bridge Group. When a user initiates a crosschain transaction, they deposit assets into the pool on the source blockchain before the same number of assets is released on the destination blockchain.
For example, if a user wants to move 1 USDT from Polygon to Arbitrum, 1 USDT is deposited into the pool on Polygon before 1 USDT is released to the user on Arbitrum. The mechanism is the same when moving from Arbitrum to Polygon.
NFT bridges are customised to each project, though they more closely resemble the lock-mint-burn-unlock method to bridging. All NFT IDs and attributes are transferred from one blockchain to another.
- Upgrade Gwan EVM to support latest EVM Opcodes, gas fees and all Ethereum-based dapps
- Migrate Galaxy Consensus to the new Gwan EVM
- Apply universal bridges for layer 1 networks, layer 2 networks, sidechains and beyond
All roadmap items are subject to change.
- Wanchain launches Universal Multichain Bridges With Shared Staking Assets
- Wanchain becomes EVM compatable
- Leveraging the multichain bridge mechanism, Wanchain integrates Bitcoin, Ethereum, Avalanche, BNB Chain, Dogechain, Fantom, Litecoin, Moonriver, Polkadot and XRP Ledger.
wanBridges enable trustless cross-chain transactions
- Permissionless wanBridge mechanism enables trustless cross-chain transactions between any pair of blockchains
- Cross-chain wanBridges secured by trustless staking and delegation mechanism
- Enables bidirectional asset transfer between Ethereum and Wanchain
- T-Bridge framework enables cross-chain connection with private blockchains
- T-Bridge enables the exchanges of assets and data between public and private blockchains
Galaxy Consensus Proof of Stake
- Consensus mechanism upgraded to Galaxy Proof of Stake
- Permissionless consensus mechanism based on Ouroboros Proof of Stake
- Trustless & non-custodial delegation mechanism
Expansion of cross-chain mechanism to support both BTC and EOS transactions
- Cross-chain transactions with BTC
- Cross-chain transactions with EOS
Storeman group powered Wanchain — Ethereum cross-chain transactions
- Cross-chain transactions with Ethereum
- Permissioned Storeman groups enable cross-chain transactions
- Wanchain launches an independent blockchain focused on developing the interoperability and privacy features which are prerequisites for the future of digital finance
- Theoretical blueprints for interoperability features completed
- Features private transactions and smart contracts at launch with work on interoperability features underway