Wanchain
Crypto Overview
Project Overview
Wanchain is a blockchain interoperability platform launched in 2017 that aims to connect different blockchain networks, enabling cross-chain transactions and the building of decentralized financial applications. The project uses secure multiparty computation and threshold key sharing to facilitate cross-chain transfers while maintaining security.
Intended Utility
The primary purpose of WAN tokens is to serve as the native currency for the Wanchain ecosystem, used for: transaction fees, cross-chain bridge operations, staking for network security, and governance participation. Validators must stake WAN tokens to participate in consensus and secure the network.
Actual Usage Analysis
Current usage aligns well with intended purposes, particularly in: Operating cross-chain bridges between major networks like Bitcoin, Ethereum, and others; Facilitating decentralized finance applications built on the platform; Supporting network security through Proof of Stake validation.
Token Distribution and Governance
Initial token distribution: 51.1% sold in ICO, 31.1% retained for development, 10% for founders/team (with 2-year vesting), 7.8% for institutional investors. Current circulation shows gradual distribution with no concerning concentration patterns.
Development Activity
Strong ongoing development with regular GitHub commits and protocol upgrades. The team consistently delivers technical improvements and new bridge implementations. Partnership with State Grid Corporation of China and other enterprises demonstrates legitimate business development.
Revenue Model
Revenue generation is primarily through transaction fees and bridge operation fees, which are distributed to validators and the protocol treasury. The model does not involve interest-bearing mechanisms or prohibited activities.
Crypto Impact
To assign a comfort level investing in Wanchain from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Wanchain.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
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