Cardano

Wanchain

Bitcoin

USDC

<h4>Wanchain is a crypto-bridging protocol. It’s also one with the best safety records possible. To date, it has never experienced a hack. The team worked hard during the bear market to improve the protocol. This should set it up for an exciting bull run. But first things first!</h4>
Here’s a recap of the year 2023 by Wanchain. Let’s see what they’ve done.
<blockquote class="twitter-tweet">
 From unprecedented growth to world-class partnerships, let us reflect on what will undoubtedly be remembered as a milestone year for <a href="https://twitter.com/hashtag/Wanchain?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Wanchain</a>.
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4da.png" alt="📚" style="height: 1em; max-height: 1em;"> Catch up on all that Wanchain achieved in 2023: <a href="https://t.co/KdAzVT5sIH" rel="noopener noreferrer nofollow">https://t.co/KdAzVT5sIH</a><a href="https://twitter.com/hashtag/WeAreAllConnected?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#WeAreAllConnected</a> <a href="https://twitter.com/hashtag/WrapUp2023?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#WrapUp2023</a> <a href="https://t.co/EvWJ9FxsqQ" rel="noopener noreferrer nofollow">pic.twitter.com/EvWJ9FxsqQ</a>
 — Wanchain (@wanchain_org) <a href="https://twitter.com/wanchain_org/status/1741458774429159798?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 31, 2023</a>
</blockquote>
<h5>XFlows</h5>
Initially, XFlows launched in late 2022. However, 2023 is the year that established XFlows. Now it’s considered Wanchain’s flagship service. Here’s what makes XFlows so crucial and stand out from the crowd of other bridges. You can send four tokens cross-chain, but they’re native-to-native. It’s also non-custodial, and the four tokens are BTC, ETH, USDC, and USDT. To clarify, these four tokens make up around 90% of all crypto transactions.
You can bridge these four tokens between 12+ networks. For example, Bitcoin, Tron, Avalanche, <a href="https://www.altcoinbuzz.io/?s=polkadot" target="_blank" rel="noopener noreferrer nofollow">Polkadot</a>, or Polygon. There are also over 130 different routes available. Another feature that stands out is slippage-free bridging. That means you send $100 in USDC and receive $100 in USDC. This is only the beginning for XFlows, it seems. There are plans to deploy on more networks in 2024. Below is a video that explains how Wanchain works. If you prefer a written version, here’s a link to the <a href="https://www.altcoinbuzz.io/bitcoin-and-crypto-guide/this-crypto-bridge-is-a-game-changer/" target="_blank" rel="noopener noreferrer nofollow">website article</a>.
<iframe title="This Crypto Bridge is a GAME CHANGER!" width="696" height="392" src="https://www.youtube.com/embed/JUjP9W3a-DI?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen sandbox="allow-scripts allow-same-origin allow-popups allow-forms"></iframe>
<h5>Improvements Throughout the Year</h5>
The Wanchain team kept building in 2023. Last year was, for the most part, a bear market for most alts. But good teams keep building during a bear market. That’s one of the points of how you recognize a good project. Well, Wanchain didn’t disappoint in this area.&nbsp;
The team delivered a stream of improvements. For example, here’s one major upgrade. They added full Taproot support for their Bitcoin bridge. This improved three important features.&nbsp;
<ul>
 <li style="font-weight: 400">Security.&nbsp;</li>
 <li style="font-weight: 400">Efficiency.&nbsp;</li>
 <li style="font-weight: 400">Flexible and decentralized cross-chain BTC transactions.</li>
</ul>
Furthermore, the team also introduced a standardized Multi-Party Computation (MPC) signature interface. This allows for an easy integration of new blockchains. For instance, there’s no need to upgrade nodes for Wanchain Bridge Node operators. There were also quite a few public networks joining the Wanchain ecosystem. For example,
<ul>
 <li>Astar.</li>
 <li>f(x)Core.&nbsp;</li>
</ul>
<ul>
 <li>Gather Network.&nbsp;</li>
</ul>
<ul>
 <li>Horizen EON.</li>
</ul>
<ul>
 <li>Metis.&nbsp;</li>
</ul>
<ul>
 <li>Optimism.&nbsp;</li>
</ul>
<ul>
 <li>Telos.&nbsp;</li>
</ul>
<ul>
 <li>VinuChain.</li>
</ul>
<ul>
 <li>And Cardano</li>
</ul>
The picture below shows the user-friendly bridge UI.
<img src="https://www.altcoinbuzz.io/wp-content/uploads/2024/01/FireShot-Pro-Webpage-Capture-287-WAN-Bridge-bridge.wanchain.org_-1024x463.png" alt="Wanchain" width="696" height="315">
Source: Wanchain <a href="https://bridge.wanchain.org/" target="_blank" rel="noopener noreferrer nofollow">Bridge UI</a>
<h5>The Cardano Bridge</h5>
One of the biggest features last year was the introduction of a Cardano bridge. Wanchain already offered unparalleled bridging options between various non-EVM networks. For example, Bitcoin, Litecoin, the XRP ledger, or the Polkadot Relay Chain.&nbsp;
However, the team upped this with a Cardano bridge option. What makes this special is the following.&nbsp;
<blockquote>
 It’s the first-ever decentralized, noncustodial cross-chain bridge connecting the Cardano mainnet.
</blockquote>
It connects, among others,
<ul>
 <li>Bitcoin.</li>
 <li>Ethereum.</li>
 <li>Arbitrum.</li>
 <li>Astar.</li>
 <li>Avalanche.</li>
 <li>BNB Chain.</li>
 <li>OKT Chain.</li>
 <li>Optimism.</li>
 <li>Polygon.</li>
 <li>Tron.</li>
 <li>The Wanchain L1 blockchain.</li>
</ul>
As a result, billions of dollars could enter the Cardano DeFi ecosystem. The <a href="https://www.altcoinbuzz.io/?s=cardano" target="_blank" rel="noopener noreferrer nofollow">Cardano</a> protocols fare well with this bridge. As a result, there were plenty of collaborations to cross millions in BTC, DAI, ETH, USDC, USDT and WAN over the bridge. For example, with <a href="https://liqwid.finance/" target="_blank" rel="noopener noreferrer nofollow">Liquid Finance</a>, <a href="https://www.wingriders.com/" target="_blank" rel="noopener noreferrer nofollow">Wingriders</a>, and <a href="https://www.astarter.io/" target="_blank" rel="noopener noreferrer nofollow">Astarter</a>.
<blockquote class="twitter-tweet">
 Using <a href="https://twitter.com/hashtag/Wanchain?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Wanchain</a>‘s Cardano Bridge, USDT can flow seamlessly into Cardano!
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f504.png" alt="🔄" style="height: 1em; max-height: 1em;"> Route: <a href="https://twitter.com/hashtag/BNBChain?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BNBChain</a> to <a href="https://twitter.com/hashtag/Cardano?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Cardano</a> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4b5.png" alt="💵" style="height: 1em; max-height: 1em;"> Value: 200 <a href="https://twitter.com/hashtag/USDT?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#USDT</a> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4b0.png" alt="💰" style="height: 1em; max-height: 1em;"> Bridge Fee: 0.0062 <a href="https://twitter.com/hashtag/BNB?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BNB</a>
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f309.png" alt="🌉" style="height: 1em; max-height: 1em;"> Try <a href="https://twitter.com/hashtag/blockchain?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#blockchain</a>‘s best bridge now: <a href="https://t.co/wXcSFHiZ3w" rel="noopener noreferrer nofollow">https://t.co/wXcSFHiZ3w</a>
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4a1.png" alt="💡" style="height: 1em; max-height: 1em;"> Lend and borrow USDT on Cardano with <a href="https://twitter.com/liqwidfinance?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@liqwidfinance</a> <a href="https://t.co/u8zpMzKQjV" rel="noopener noreferrer nofollow">pic.twitter.com/u8zpMzKQjV</a>
 — Wanchain (@wanchain_org) <a href="https://twitter.com/wanchain_org/status/1713834487065219146?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 16, 2023</a>
</blockquote>
<h5>Circle and Wanchain Team Up</h5>
Wanchain and Circle go back quite a few years. In 2019, you could already bridge USDC. That’s Circle’s stablecoin. Currently, Circle is the exclusive issuer of USDC. Before 2023, Centre Consortium was governing USDC. However, they’re now dissolved. Circle seems better positioned to handle potential regulatory issues than the old consortium was.
Furthermore, Circle also introduced this year its Cross-Chain Transfer Protocol (CCTP). This allows for the burning and minting of native USDC on all supported chains. Once again, Wanchain partnered up straight from the beginning. As a result, the team integrated CCTP into XFlows. This made Wanchain an official launch partner. Now you can find CCTP back on various chains. Support for CCTP will continue in 2024.
<blockquote class="twitter-tweet">
 Problem: incompatible asset versions can harm <a href="https://twitter.com/hashtag/DeFi?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#DeFi</a> ecosystems, hindering their growth and functionality.
 Solution: <a href="https://twitter.com/circle?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@circle</a>’s Cross-Chain Transfer Protocol (<a href="https://twitter.com/hashtag/CCTP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#CCTP</a>), with <a href="https://twitter.com/hashtag/Wanchain?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Wanchain</a> as a launch partner, addresses this by standardising cross-chain <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$USDC</a>.
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4fd.png" alt="📽" style="height: 1em; max-height: 1em;"> <a href="https://t.co/pBpnT3SA1d" rel="noopener noreferrer nofollow">https://t.co/pBpnT3SA1d</a> <a href="https://t.co/IB0Dp9vE3P" rel="noopener noreferrer nofollow">pic.twitter.com/IB0Dp9vE3P</a>
 — Wanchain (@wanchain_org) <a href="https://twitter.com/wanchain_org/status/1673602316715319297?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 27, 2023</a>
</blockquote>
<h5>Wanchain Takes Off in 2023</h5>
During the last year, Wanchain kept growing. Each month outperformed the previous month. One of the reasons behind this is its third-party integrations. For instance, with the Polygon Wallet Suite or OKX DEX bridge aggregator.&nbsp;
There were also two other areas in which Wanchain reached new ATHs. These are the total value of cross-chain transfers and transaction volume. Furthermore, XStake launched. This saw two options for staking the WAN token. WanAI was also introduced, and we saw expansions of XFlows. For example,
<ul>
 <li>BTC with 5 new chains.</li>
 <li>ETH with 7 new chains.</li>
 <li>USDC and USDT each with 3 new chains.</li>
</ul>
Community development was also active. There were hackathons and new protocols launched by community developers. Besides that, there was also an influx of new games. XFlows will keep expanding to new chains, and XStake will offer more options this year.
<blockquote class="twitter-tweet">
 2024: The year <a href="https://twitter.com/hashtag/Wanchain?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Wanchain</a> takes the next step
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/2b1c.png" alt="⬜" style="height: 1em; max-height: 1em;"> Bridge fees <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/2b1c.png" alt="⬜" style="height: 1em; max-height: 1em;"> New networks, both EVMs and non-EVMs <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/2b1c.png" alt="⬜" style="height: 1em; max-height: 1em;"> More XFlows. More XStake <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/2b1c.png" alt="⬜" style="height: 1em; max-height: 1em;"> New innovative cross-chain products (<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f99c.png" alt="🦜" style="height: 1em; max-height: 1em;">)
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4da.png" alt="📚" style="height: 1em; max-height: 1em;"> More: <a href="https://t.co/KdAzVT5sIH" rel="noopener noreferrer nofollow">https://t.co/KdAzVT5sIH</a><a href="https://twitter.com/hashtag/WeAreAllConnected?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#WeAreAllConnected</a> <a href="https://t.co/4TAdenQ77z" rel="noopener noreferrer nofollow">pic.twitter.com/4TAdenQ77z</a>
 — Wanchain (@wanchain_org) <a href="https://twitter.com/wanchain_org/status/1742472227214201183?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 3, 2024</a>
</blockquote>
<h5>Conclusion</h5>
Wanchain had a successful year in 2023. XFlows became the flagship service. There are also more expansions with new bridges in the pipeline for 2024. XStake also launched and will see further expansion this year. Another big achievement was the Cardano bridge. All the team’s hard work seems to have paid off during 2023.
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Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.
We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence. This post is sponsored by Wanchain.
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The post <a href="https://www.altcoinbuzz.io/reviews/wanchain-a-review-of-2023/" rel="noopener noreferrer nofollow">Wanchain: The Year in Review for 2023</a> appeared first on <a href="https://www.altcoinbuzz.io" rel="noopener noreferrer nofollow">Altcoin Buzz</a>.

Wanchain: The Year in Review for 2023

Altcoin Buzz

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