Wanchain wallet

Enterprises and developers can tap Wanchain’s cross-chain technology to transfer value between networks, such as converting ETH to BTC. Wanchain accomplishes this via an innovative cryptographic primitive known as secure multi-party computation (sMPC), which allows “Storemen” nodes to execute cross-chain transactions securely and privately.

Focusing explicitly on financial services and asset issuance, Wanchain is a medium for inter-ledger transfers and application sharing between financial entities. Use cases include crypto-collateralized lending services, P2P marketplaces, proxy token issuance, and cross-chain decentralized exchange swaps.

Developers can build applications using smart contracts written in Solidity on Wanchain, which has also built a bridge to the Ethereum network.

The Wanchain platform is underscored by the WAN token, which initially began as an ERC-20 token before converting to Wanchain’s native chain earlier this year. There is a current supply of 210 million WAN, which can be used for transaction fees across applications in the network and for validating blocks in its PoS consensus.

Wanchain is an open-source project written in Go, and is a member of the Enterprise Ethereum Alliance and Blockchain Interoperability Alliance.

When you first buy crypto, you’re issued with two keys: public and private.

• A public key serves as an address that can be shared with other parties to perform transactions.
• A private key represents a randomly generated number that signs transactions and protects your assets from malicious attacks. If it gets compromised or lost, you won’t be able to access your wallet to spend, withdraw, or transfer your assets.

To safeguard and keep track of your keys, you can use online or offline wallets. Online wallets, also known as hot wallets, store private keys on systems or devices that are connected to the internet. Hot wallets are easy and convenient to use, however, they come with several drawbacks. Besides being susceptible to attacks and a honeypot for hackers, with hot wallets, the custody of private keys is often entrusted to a third party such as a crypto exchange, which means you never have full control over your funds. The safer choice are specialized hardware wallets that store private keys offline. Stealing private keys from a hardware wallet would require physical access to the wallet and corresponding PIN or the recovery phrase. What’s more, with hardware wallet, you don’t need to rely on third party custodians.

Ledger Nano is the industry-leading hardware wallet. With more than five million customers, Ledger Nano wallets have several layers of security that protect private keys, and hence your assets:

• Your private keys are stored on secure element chips.
• A PIN code and a 24-word recovery phrase are required to access the wallet.
• Ledger Nano wallets have been built using highly durable materials for protection against physical damage.

With full isolation between private keys and your computer/mobile, Ledger Nano cryptocurrency wallets keep your keys secure and give you complete control over your tokens.