This article was first published on Wanchain - Medium
All the questions an answers to the recent AMA with the Bitrue team and community!
The AMA was held on November 12th, 10:00 UTC over on the Bitrue Official Telegram channel
Jack Lu — Founder and CEO of Wanchain
Li Ni — Vice President of Operations
Liam — Wanchain Community Manager
Questions and Answers
1. Can you explain what decentralized crosschain technology is? What advantages does it have for regular users?
Currently most of the existing crosschain solutions are centralized. One example is WBTC on Ethereum. The problem is user has to trust a centralized party for the crosschain assets. Wanchain’s cross-chain approach is to set up one or more decentralized wanBridges in order to connect blockchains. Each wanBridge is decentralized as a Storeman Group consisting of a number of Storeman Nodes. User now trust a network intead of a centralizef party to hold the cross-chain assets.” — Jack Lu
With the rapid rise of blockchain technology, there are now thousands of public and private blockchains being used across the globe. However, these blockchains exist largely in isolation, unable to exchange information or value with one another. This severely limits their world-shaping potential. The purpose of a cross-chain solution is to connect different blockchains, like a bridge between islands. See the intro video here. — Li Ni
2. Do you have a whitepaper so that we can do more research on Wanchain?
To keep reading, please go to the original article at:
Wanchain - Medium