This article was first published on Wanchain - Medium
We first announced Wanchain 5.0 with its Wanchain to Ethereum cross-chain bridge less than two months ago in our mid year update article. Since then, Wanchain’s R&D team including several of PhDs in cryptography & other related disciplines, and our over thirty skilled software engineers have been working non-stop to bring Wanchain 5.0 to fruition. The fruits of their labor are now here and open to the world with the launch of the Wanchain 5.0 cross-chain bridge on Ethereum’s Rinkbey Testnet.
On August 26, 2020, the Wanchain R&D team successfully deployed the Wanchain 5.0 cross-chain bridge prototype on the Ethereum Rinkeby testnet. The bridge now enables the cross-chain transfer of testnet WAN between Wanchain’s testnet and the Ethereum Rinkby testnet.
This technology is now live on the testnets of Wanchain and Ethereum. This means that WAN from the Wanchain testnet can now be securely sent to the Ethereum testnet, and back.
You can check out the ERC20 WAN token on the official Rinkbey Tesntet Explorer site.
What is a Two Way Cross-chain Bridge?
A cross-chain bridge is a mechanism which allows for assets to flow back and forth between two different blockchains. Wanchain’s first version of a cross-chain bridge first launched about two years prior allowed for a one directional flow of assets from other chains on to Wanchain. With the launch of Wanchain 5.0, these bridges will be upgraded from one way to two way. While previously the WAN-ETH bridge only allowed for ETH and ERC20 tokens to be transferred from Ethereum to Wanchain, the new two way bridge also allows for WAN and WRC20 tokens to flow the other way on to Ethereum.
Cross-chain Powered by Wanchain’s MPC & TSS Enabled Storeman Nodes
Wanchain’s two-way bridges are powered by a group of nodes referred to as Storeman Nodes. ...
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Wanchain - Medium