WAN (WanChain) is an ERC-20 token developed on the Ethereum blockchain aimed towards building a new distributed financial infrastructure (decentralized bank). WanChain is an Ethereum based generic ledger which runs applications independently. WanChain works with the Proof of Stake consensus protocol. WanChain provides intra-chain transactions, cross-chain integration, and cross-chain transactions. Wancoin is the native coin of WanChain and during every transactions some amount of Wancoins is consumed.
WanChain was founded by Jack Lu, former co-founder of Factom. The team consists of 24 other members and a group of 12 advisors.
The purpose of Wanchain is to provide a fully decentralized interoperable transaction platform. Applications of WanChain include payments, settlements, borrowing and lending as well as investing and financing.
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