What is Wanchain? A beginner’s guide

A step-by-step guide to the Wanchain network and how you can buy WAN in Australia.

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Wanchain is a distributed financial network that aims to unite isolated digital assets (such as cryptocurrencies) with one another by using cross-chain smart contracts similar to those popularised by the Ethereum network. This enables tokens and assets to be traded between blockchains.

Wanchain's name is a play on words which reflects it's wider goals. In English, "WAN" stands for "Wide Area Network" a computing term that refers to connecting many computers over a vast area, similar to Wanchain's goal of connecting all blockchains together in a massive network. In Mandarin, "WAN" means 10,000 - interpreted as a reference to the project's goal of joining thousands of blockchains together.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Learn more Buy WAN

What is the Wanchain network and the WAN coin?

IconSymbolInitial release dateAlgorithm typeMax supply
WAN23 March 2018Proof-of-stake210 million WAN

Wanchain's main features include:

  • Cross-chain smart contracts
  • The ability to transact across blockchains
  • Anonymous transactions
  • It’s part of the Interoperability Alliance (WAN, ICX, AOIN)

Cryptocurrency is made up of thousands of digital assets and tokens, many with their own blockchains. This prevents them from being directly traded with one another or interacting in any way at all. Wanchain's vision is to solve this by allowing such coins to be traded between blockchains, using the Wanchain network as a sort of middleware to facilitate transactions. Wanchain aims to plant itself firmly at the centre of the cryptocurrency ecosystem by doing so.

The Wanchain network also boats privacy measures in particular ring signatures, which are used by the popular anonymity coin Monero. Simply put, ring signatures are associated with anonymity as they are able to hide an individual's actions within a group of users. Ring signatures allow a message (or a transaction) from a group to be sent, without identifying who in the group sent it. This level of anonymity is favourable for various industries and users that require transactions to stay confidential.

Wanchain posits that the future of the economy and finance will be digital and thus proclaims to be a company that can help “rebuild finance”. It plans to do this by digitising assets, making them transferable on a blockchain. Normally we only think of cryptocurrency when discussing digital assets, but Wanchain sees a future where everything, from old photographs to music, is digitised and stored on a blockchain.


Where can you buy Wanchain (WAN) in Australia?

WAN is available at the following exchanges:

Name Product Deposit methods Fiat Currencies Cryptocurrencies
CoinSpot Cryptocurrency Exchange
Bank transfer, BPAY, Cash, Cryptocurrency, POLi, PayID
AUD

263
cryptocurrencies

CoinSpot is an Australian exchange that lets you easily buy, sell and trade more than 250 cryptos.
Swyftx Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, Osko, PayID
AUD

243
cryptocurrencies

Buy and sell a wide range of cryptocurrencies at competitive rates on this Australian exchange.
Binance Cryptocurrency Exchange Australia
Credit card, Cryptocurrency, Debit card, Osko, PayID
USD, AUD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH & 40+ more

260
cryptocurrencies

Binance is the world’s largest exchange by trading volume. Get started with instant zero fee AUD deposits and withdrawals in Australia, and enjoy low trading fees, a wide selection of cryptocurrencies and 24/7 local customer support.
Digital Surge Cryptocurrency Exchange
Bank transfer, Cryptocurrency, POLi, Osko, PayID
AUD

234
cryptocurrencies

Finder Exclusive: New members get $10 bonus after verification. T&Cs apply.
An Australian based exchange with a focus on simplicity that allows users to purchase a range of cryptocurrencies with AUD.
Cointree Cryptocurrency Exchange
Cash, Cryptocurrency, POLi, PayID, Online banking
AUD

132
cryptocurrencies

Finder Exclusive: New members get $10 BTC bonus after verification. T&Cs apply.
Buy 130+ cryptocurrencies with fast-growth portfolio insights, and the ability to swap any coin to any other instantly.
Easy Crypto Cryptocurrency Exchange
Bank transfer, Cryptocurrency, POLi
AUD

53
cryptocurrencies

Easy Crypto is a simple way to buy and sell a range of cryptocurrencies, straight to and from your own crypto wallet.
CoinSwitch Cryptocurrency Exchange
Credit card
USD, JPY, RUB, EUR

387
cryptocurrencies

CoinSwitch allows you to compare and convert over 250 cryptocurrencies across all exchanges.
KuCoin Cryptocurrency Exchange
Cryptocurrency, Interac e-Transfer, PayPal, Wire transfer, Credit or Debit Card
USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 40+ more

211
cryptocurrencies

Finder Exclusive: Get up to 10 USDT in trading fee rebates for signing up and making a deposit, and up to 30 USDT in trading fee rebates after buying with fiat. T&Cs apply.
Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
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Compare up to 4 providers

Note that Binance does not accept fiat currency deposits such as AUD. Before transferring cryptocurrency to Binance, you will first need to acquire cryptocurrency at an exchange which accepts AUD deposits.


What sets Wanchain (WAN) apart from bitcoin (BTC) and other altcoins?

The Interoperability Alliance (WAN, ICX, AION)

The Interoperability Alliance is an agreement and strategic partnership between three blockchain organisations, Wanchain (WAN), Aion (AION) and Icon (ICX). The Alliance's main goal is to collaborate on research, interchain transactions and communication in order to connect isolated blockchains with one another. It believes that isolation is a persistent problem in the blockchain industry that will hamper scalability and future adoption.

The Kyber-Wanchain Decentralised Exchange (KWDEX)

KWDEX is a proposed decentralised exchange that will allow users to trade their digital assets on-chain. This means that instead of sending coins to an exchange and having them hosted there under the protection of that exchange, users will be able to keep their coins and tokens in their wallets, which is expected to increase security and reduce susceptibility to hacking. Wanchain's involvement in the project also means that theoretically, an enormous variety of digital assets (as well as cryptocurrencies) will be available to trade on the exchange, potentially transforming the way cryptocurrency exchanges currently function.

To learn more about altcoins, check out our compiled reviews.


What’s scheduled for WAN?

After successfully rolling out its mainnet (Wanchain 1.0) in January 2018, Wanchain's roadmap shows that Wanchain 2.0 is expected by Q3 2018, which will include integration with the Ethereum network, as well as a multi-coin wallet. To learn more about the Wanchain network and the WAN coin before buying, consider checking out the Wanchain whitepaper.

Source: Wanchain.org

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

At the time of writing the author holds ICX, AION, WAN, LINK, QASH, NEO, XMR.

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