Wanchain (WAN) Price Prediction 2022-2030 - Should You Buy It Now?

What is WanChain?

WanChain is a blockchain protocol that connects various networks and creates a base for sending or receiving payments from the crypto market. WAN is also able to create smart contracts and decentralized applications on the Ethereum platform (WAN is subject to scalability on the part of ETH).

Previously, the token stood on ERC-20 in the Ethereum network, but now it is a self-sufficient token with its own ecosystem. To store the token, the developers have made their own official wallet - "Wanwallet". Coin support is also implemented on platforms such as: "Thrust Wallet" and "Ledger".

The protocol has three main modules that make up the main algorithm of operation.

Web3 wallet for your digital assets!

Install

Install

• Registration module: the blockchain network is registered, from which transactions and assets that need to be sent are output.
• A module that transmits transaction data to a common database.
• Transaction Status Request Module

The fact is that all three modules cannot work without smart contracts. All transactions occur almost instantly (≈400-500 milliseconds) using the PoS (Proof-of-Stake) algorithm, and the commission is only a few cents.

In order for the WAN network to work, "validators" are responsible for this, who write all data to the network, then process transactions and receive remuneration for this in the form of a part of the commission paid.

By the way, in 2017, the WanChain project was able to attract a record 120,000 ETH (Approximately $ 37 million) and already in early 2018, migrated from ETH to its network.

The developers plan to use the funds received during the ICO as follows:

• 60% Research and development
• The remaining 40% is for the development of society, marketing, infrastructure, and current expenses. (10% each)

The main nodes of PoS verification in WAN

• Vouchers
• Validators
• Storemen

Vouchers are designed to receive a security deposit from a transaction fee. They provide transaction verification between the original account and the unavailable WAN account. In case of verification failure, the security deposit is withdrawn from the holding account, and the guarantor loses the ability to authorize transactions.

Validators are engaged in recording authorized data in the WAN blockchain in exchange for a portion of the transaction fee.

Storemen stay online and maintain part of their keys in order to receive part of the commission.

This model has a name: PoC - Proof-of-Concept.

If you don't have enough coins to start running the verification node, you can still work with the general node. At the same time, the transaction is not verified by you directly. Instead, you entrust your part to the verification node, which, in turn, redistributes part of the transaction fees back to you.

Advantages of WanChain

An important advantage of the project can be called the use of cross-chain technology (Cross-chain is a special technology with which you can make an exchange, transfer funds on loan and perform other operations between users of the system without having to resort to the services of an intermediary), which implies the recording of all transactions and transactions carried out by a distributed system.

Token Anonymization algorithm via smart contracts

WAN is one of the first projects that includes ensuring privacy in smart wallets.

The project uses "ring signatures" and "one-time address generation” to ensure the anonymity of transactions.

• In the ring signature, your signature as the sender is mixed with several fake accounts. This mixing makes it much more difficult to track you as the actual sender, which can have a beneficial effect on the security of your data, your wallet and account access.

In addition, WanChain creates a new address for each transaction, so detecting the pattern of your transactions is almost impossible.

Purchase and mining of a WAN token

At the time of writing, the auction is already underway (the current rate is $0.87 on 1.12.2021). But at first, when the token was not traded (it was in 2018), only ICO participants had access to the coin. The blockchain was not ready during the ICO, so the team distributed ERC-20 tokens.

However, after the launch of the main network, ICO participants can sell ERC-20 for WAN tokens.

You can buy WanChain on several exchanges (Binance, Kucoin, BITbns, etc.). However, as is the case with a large number of other coins, you will have to exchange FIAT for cryptocurrency before switching to the cryptocurrency exchange of your choice.

WAN can also be obtained by "bypassing" the PoS system. In order to launch a validator with the ability to accept tokens, the network user will have to ”freeze" 50,000 WAN on his account (Approximately $43,000 on 1.12.2021). To launch a node with the ability to work with its tokens, 10,000 WAN will be needed. If the user wants to give his tokens to the validator, then he will need an amount of 100 WAN.

Tokens can be accepted for management in a ratio of 1:5, that is, with an amount of 50,000 WAN, the validator can receive no more than 250,000 WAN from delegating users. To work with large amounts on the node account, you need to increase reserves.

After that, the network will increase the "frozen" amount by a certain amount, which is planned to be reduced annually. In the first year, it may be 11.9%, and let's say in 7 years it will drop to 2.49%. A certain amount will be played weekly between all validators, the probability of receiving it is 94.4%. Validators will be able to withdraw the received tokens in 1-2 days after accrual. Delegated users will receive 10-20% less revenue - the node operator will keep this amount as a commission.

To start the node, you will need a computer with 4 processor cores, 16 GB of RAM and a 256 GB disk to store a copy of the blockchain. Themes. who wants to run a node remotely, the WanChain team recommended a virtual server from Amazon, AWS m4.xlarge.

Price prediction WAN 2022-2030

The times of the highest prices on Wanchain has left behind. After the all-time high in 2018, the currency cannot regain its peaks. Nevertheless, the coin continues to grow after reaching its bottom in 2020. As the WAN price is reflecting the big trends of the market, we believe that it has a potential for the future growth.

As the crypto industry in general continues to expand and get recognized by the major players from traditional finance sector, we believe that the prices for most crypto coins will be growing. WAN will probably enjoy a humble climb in the next few years. By the end of 2022, the WAN price will reach from $0.5 to $0.6. By the end of the following year it will increase by roughly 59% reaching up to $0.96. 2024 will see the bigger gains due to Bitcoin block reward halving. By the end of the year, WAN can gain up to $1.34.

The year after, WAN can reach from $1.67 to $2. In the next five years, experts expect WAN coin to keep growing little by little. Based on tech analysis, by the end of 2030, the coin can reach up to $12.8.