Use Case Examples

Wanchain’s integration with Ethereum is the first step toward the next major evolution of blockchain technology. This vision shows one massive, interconnected network of public and private blockchains and dApps all linked by Wanchain. The use cases for this technology are virtually infinite, and below are a few examples of cross-chain use cases we have seen in our discussions with new projects looking to leverage Wanchain’s platform:

Finance: This technology will allow for limitless use cases in finance including decentralized exchange, decentralized lending in crypto or fiat, multi-coin ICO, multi-asset management, and cryptocurrency payment.

Supply Chain and Logistics: A well-known fast-food chain using Wanchain to register its sales and ingredients to the blockchain has an outbreak of E. coli at several restaurants. Wanchain allows the company to trace the source of the outbreak down its own blockchain all the way back to the private blockchain of a specific supplier of Romaine lettuce, due to the cross-chain connectivity between all the blockchains along the supply chain. The transparent nature of the blockchain based solution allows the company to take quick, decisive action and remove the tainted lettuce across its stores worldwide.

Medical: A hospital patient is admitted to her local hospital, but needs to be transferred to a more specialized treatment center. Each facility stores its patient data on its own blockchain to ensure the data is inalterable and highly private. With Wanchain, the local hospital would be able to seamlessly, securely and near-instantly transfer the patient’s medical records to the blockchain of his specialty center, without having to compromise her privacy.

Identification: China uses Wanchain’s platform and Peru uses a different public blockchain to register the identities of its citizens. If a Chinese citizen was trying to enter Peru, and Peru needed to verify the identity, Wanchain would enable a cross-chain transfer of data among each country’s governments. This way, Peru can verify that the identity does indeed come from the official source.

What is Secure Multi Party Computation?

With the release of Wanchain 2.0, Wanchain will be the first interoperable network using Secure Multi Party Computation (sMPC), threshold key sharing and locked accounts mechanism. With sMPCs, parties can compute functions over inputs while keeping them private. With the public and private key sharing across the different blockchains, this ensures nodes are not able to view the private data they are handling as the keys are shared amongst the various nodes in the network.

Wanchain’s Next Developments

2018

In later 2.x versions, as the cross-chain function becomes more stable, we will gradually open the registration system for Storeman nodes, and distributed, large-scale Storeman participation in the cross-chain ecosystem will be established.

Wanchain will support BTC cross-chain functionality before the end of this year and will strive to realize cross-chain functionality for at least one or two ERC20 tokens.

Wanchain will continue to improve the Storeman consensus mechanism this year, including a penalty mechanism for malicious acts and negligence by Storeman nodes.

2019

After version 2.0 is stable, we will encourage more developers to use Wanchain’s cross-chain mechanism to develop cross-chain functionality of tokens on other chains and will reward developers for accelerating Wanchain’s cross-chain integration with more public blockchains.

The key research and development direction for next year will be on building and continuously improving POS, and enhancements to ordinary and cross-chain transactions.

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