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Wanchain Takes the Lead in the Development and Advocacy of CrossWanchain Takes the Lead in the Development and Advocacy of Cross-chain Standards On the afternoon of July 16, 2019, the third session of the Beijing Blockchain Technology Application Association was held in Zhongguancun IC Design Park, Haidian District, Beijing. Wanchain representative Bryan Ye gave a keynote speech on the topic of cross-chain standards, the following is a summary of his speech: We took the lead in implementing cross-chain Bitcoin, Ethereum and ERC20 last year. This year we are working on the cross chain integration of enterprise chains such as Hyperledger, so we can say that we are at the forefront of the industry in the field of cross-chain technology research. So, what is the significance of developing cross chain standards? First of all, this is determined by objective needs. Nowadays, there are a large number of public, private and consortium chains in the industry. People need a standardized cross-chain protocol to allow for the transfer of information and value between different chains, especially between heterogeneous chains. Second, from the development direction of blockchain technology, there are currently three technical bottlenecks. Performance, privacy , and then the one we are addressing today, interoperability. The introduction of cross-chain standards will play a part in promoting the development of blockchain technology. Third, Wanchain has been committed to the research of cross-chain technology. As a member of the Ethereum Enterprise Alliance, and with our VP of Engineering Weijia Zhang as the general representative of EEA China we have been promoting the development of cross chain standards in China and internationally. So what do we have to do to develop cross-chain standards? In addition to our work with the EEA, there are a number of other tasks which we must address: The first is to clearly establish cross-chain implementation standards. This includes standards for: Cross chain transfer of fungible assets Cross chain transfer of NFTs (ERC721, etc.) Cross chain exchange of data Second, the collection of cross-chain needs and cross-chain difficulties. We need to collect cross-chain needs from companies with cross-chain needs or cross-chain research institutions, associations and organizations to understand their cross-chain pain points so that they can be better targeted when developing cross-chain standards. Third, the architectural design of cross-chain standards. A good architecture should have excellent security and high usability. For example, Wanchain uses the Storeman cross-chain node group mechanism to complete the mapping of tokens from the original chain to the target chain by means of secure multi-party computing and threshold key sharing.This decentralized process correctly verifies the transaction status on the original chain, and also ensures the atomicity of the cross-chain transaction process. After we implementing the cross-chain connection with Ethereum, we were able to reuse this mechanism for a cross-chain connection with Bitcoin. Fourth, the development of a cross-chain benchmark protocol. Similar to Ethereum Improvement Recommendations (EIP), we design a similar cross-chain improvement recommendation system based on the proposed status: draft, acceptance, finalization, and extension, to determine whether a particular cross-chain specification is ultimately incorporated into the entire cross-chain standard. Iterative versions of cross-chain standards should be backward compatible. In addition to the standardization process itself, we must also pay close attention to how to promote and gain acceptance of standards by community consensus: First of all, we should form a consensus among all members on cross-chain standards within the association through publicity and training. And through the resources and influence of associations and members, the standards can be spread out. Second, we need to disseminate cross-chain standards knowledge and organize cross-chain educational activities for companies, organizations, and community members related to cross-chain. In addition, we should develop a reasonable incentives policy to encourage companies and organizations outside the association to contribute to the development of cross-chain standards. The importance of standards is self-evident. Wanchain is willing to work with the association and its peers to actively embrace the development of standards and contribute to the advancement of national and international cross-chain standards.
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by IgorPorokh
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BTCUSD, ETHBTC & WANBTC Analysis 8/23/19Today we will provide technical analysis for BTCUSD, Etherereum vs BTC and the biggest mover for the last 24 hours: Wanchain, WAN vs BTC. Raphaël Comte Investment Analyst at Token Metrics Token Metrics Media LLC is a regular publication of information, analysis and commentary focused especially on blockchain technology and business, cryptocurrency, blockchain-based tokens, market trends, and trading strategies. Token Metrics Media LLC does not provide individually tailored investment advice and does not take a subscriber’s or anyone’s personal circumstances into consideration when discussing investments; nor is Token Metrics Media LLC registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold or sell any security. The Token Metrics team have advised and invested in many blockchain companies. A complete list of their advisory roles and current holdings can be viewed here: blog.tokenmetrics.com
by tokenmetrics
Wanchain Looking Better v Bitcoin, Bullish Altcoin Market SignalWe saw Bitcoin (BTCUSD) moving from $11,500 all the way down to $9,450 in a matter of days... When Bitcoin grows, altcoins drop. When Bitcoin drops, altcoins drop... That is something we see and hear quite often and it tends to be true, on bear cycles. But it isn't true in this case... Now, here is the signal. BTCUSD had this huge drop the past few days yet WANBTC (and other altcoins) remained strong, look at the chart above, basically zero retraces for Wanchain the past three days. I've been looking at the charts for the altcoins (all altcoins minus the top 10) and they have similar setups. We see the huge drop for Bitcoin, which always means a huge drop for the entire cryptocurrency market but instead, these alts (ALT/BTC pairs) remained the same. Wanchain (WANBTC) is now consolidating after printing bullish divergence on the MACD and RSI. After it breaks and closes above 218 satoshis (0.0000218), it can easily move higher to test EMA50 (0.0000284) and higher. Here you can see QuarkChain (QKCBTC) in a similar situation: Thanks a lot for reading and your continued support. Namaste.
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by AlanSantana
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Wanchain Starts Gaining Momentum (Over 50% Profits Short-term)Recently we looked at Wanchain (WANBTC) on Binance. We saw a chart in a consolidation phase getting ready for a strong impulse move, you can find this chart at the bottom of this post. Now, Wanchain is gaining momentum, you can tell by looking at the big green volume bar on the lower end of the chart. This huge volume supports a break above two major resistance levels marked with Exponential Moving Average lines (EMAs). Those are EMA50 and EMA100. With a close above this level, WANBTC is very likely to test EMA200 and EMA300 next. These resistance levels are marked on the chart above with an Orange and bold Gray lines. Of course, we are expecting for Wanchain to go even higher... This is a short-term analysis. Check the chart below for the longer-term version. Previous analysis | Wanchain Looking Better v Bitcoin, Bullish Altcoin Market Signal Thanks a lot for reading. Namaste.
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by AlanSantana
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