We are pleased to announce our next AMA on November 17th 2020 at 04:00 PM UTC Time: Satoshi Club x Wanchain
⚠️Click to see the hour
⚠️Total Reward pool: $500
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Wanchain Telegram group
We will have the following structure:
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 6 Questions will be selected from our website – please submit your questions in the comments section of this post.
Part 2: 100$/10 users – Open chat for 100 seconds. You can post Max 3 questions. Wanchain Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about Wanchain
For more details:
Wanchain – @WanchainCHAT
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
Wanchain intends to connect different blockchains making it possible for people to access DeFi platforms across various blockchains. I don’t understand how this would work? Would I be able to send btc to a smart contract on Ethereum without converting it to Wbtc for example?
In your roadmap, it’s mentioned that Wanchain plans to develop cross-chain mechanism for NFTs. How will it work considering that NFTs are not really interchangeable?
Most of the dapps on your website seem to have been developed in-house, I also couldn’t find Wanchain on amongst blockchains listed on dappradar. How do you plan to attract more dapps developers to start using Wanchain?
When project locks fund on some original blockchain it need to give account’s private key and funds will be managed by Wanchain and for locked funds will get proxy token on Wanchain and if we burn proxy tokens we get original locked token.
There is very high risk when locking tokens trough Wanchain. To give private key to someone, there must be very big trust to that person or project.
How can you guarantee that you won’t just transfer all tokens to external wallet, sell all locked tokens and dump price with it?
Open finance must be interconnected to be truly open. What does Wanchain offer to achieve financial freedom?
The private chains, the public chains and the chains of alliances are still isolated from each other, knowing the mechanism of the chains which are the steps towards a new future of interconnection offered by Wanchain?
We all know that finance is not perfectly open right now due to the number of unsolved problems yet, how does Wanchain lead to industrial empowerment and the establishment of unprecedented interconnectedness to human society?
Wanchain is the world’s leading blockchain cross-chain platform, how do you intend to free get the free flow of assets and data around the world?
The cross chain is one of the most critical challenges facing the future prosperity of the blockchain industry, which Wanchain proposes to achieve fully interconnected digital economy that we long for?
What stipulates in your Wanchain process structure so that all blockchains can transmit value and data to each other? How do you intend to unblock isolated chains?
Knowing that for the transfer process between chains to be carried out correctly, the assets are locked in the original chain and the private keys of the account are distributed and stored in the Wanchain nodes, in case the transfer fails in full transaction who responds?
One of Wanchain’s core services is a cross-chain mechanism. Could you please explain what improvements you have made in terms of speed and cost reduction?
NFT is becoming more and more popular now. What is Wanchain’s future plan regarding NFT? Do you see this as a great opportunity?
What are the usecase of wanchain going to introduce in the crypto space?
Decentralized cross-chain technology. What are the advantages for regular users?
What improvements or additions are there in Wanchain 5.0 over the previous version?
We are at the second dangerous point of the COVID pandemic, restrictions etc. across the world. To what extent did these limitations affect Wanchain’s development?
If a stronger similar project is born on Wanchain, what kind of competitive strategy would you pursue against it?
How many projects will Wanchain partner with and provide a competitive advantage and what is your company’s strategy to attract new big investors to your project?
Many projects take the pulse of the community and launch regular community and investor campaigns. What has Wanchain done and will do to keep the community and investors regularly connected to the project?
How will Wanchain 4.0’s T-Bridge Framework provide solutions to problems at the point of private to public cross-chain interop?
What is the advantage between the One Time Account System and the Simple Calculation?
What is the relationship between WAN and ETH? What are your similarities and advantages?
How does the storeman node work in the Wanchain ecosystem?
What is the relationship between Wanchain and FinNexus? What is Wandora’s Box DAPP game in the FinNexus project?
When will WRDEX be launched? What will be its role in the Wanchain ecosystem?
Wanchain has partnership with Rivex, this partnership
What are the benefits of wanchain and the role of Rivex in wanchain?
What are the advantages of EOS integration with Wanchain? What are the common grounds this integration will provide for both parties in the long and short term?
In order to form a wanBridge, 21 Storeman nodes must work together. and this 21 nodes are selected based on the amount of stake in each node..Why did you decide on using 21 nodes in the first place will this number of nodes be enough to fully operate a WanBridge especially when there is an increase in traffic along this bridge. what will happen to the wanBridge if a single of it’s Storeman Node fails and if the selection process for this nodes is based on The amount of WAN staked by the nodes, i.e The 21 nodes with the most WAN staked will be selected…how will you avoid a scenario where a single entity or individual with large capital operates 21 nodes and stakes the Highest amounts of WAN in this 21 nodes will this not give this person or entity an entire control over the wanBridge..
Can you explain the idea of “signature is consensus” that is now being used to verify cross-chain information in your recently launched WanChain 5.0 Mainnet.. How does this idea Work….
your plans for the last quarter of 2020 includes the Release of Wanchain DApp development toolkit will this tool kit allow even non developers to build dApps and also issue their own fungible/non-fungible token on WanChain… or will this tool kit still be limited to Developers alone.. what will be the usability and features available in the DApp development toolkit and when exactly will it be ready this year..
While interoperability is good and welcome, I’m concerned about the cost of transaction between different blockchains. Has your team come up with a solution to reduce the cost of transaction between different blockchains?
For a product that has been around for more than two years to have achieved all your goals on the roadmap is phenomenal, what should we be looking forward to next year, can you give us a sneak peek into next year’s roadmap?
On your roadmap for this quarter, we see integration with a new blockchain. What blockchain are you integrating this quarter? And how soon can we see TRX and DOT blockchain integrated on your platform?
In a simple way, as for a 6 or 7 year old child, can you explain to us how Wanchain works and what its application is in real life? That is, when will it be useful for me to use Wanchain?
What are wanTokens? Which one should I start buying to invest in Wanchain?
Wanchain is two years old now, in all this time how has been your acceptance in the cryptomoney loving community?
I read that wanchain 5.0 has an economic mechanism and a security mechanism integrated, so can you tell us about the benefits that these mechanisms bring?
What is your privacy protection mechanism? Since wanchain is based in ethereum and its transactions are not private
Would you explain what Token Locked Flag is, and its function during a transaction?
– Honestly, what is Wanchain’s long-term vision? Do you want to have a monopoly on Bitcoin and Ethereum? Or do you have a more collaborative approach to facilitating movement between each blockchain?
Wanchain can connect digital currency networks, doing interchain asset exchanges WITHOUT any modification of the mechanism of original chains. How can that be done? What happens if the platfoems have different programmation languages?
– A few days ago Wanchain 5.0 was launched. Can you explain to us what improvements you implemented with this update? What problems were solved?
– I have heard of very few projects you are undertaking in this “cross-chain” thing. Do you have any direct competitors currently doing the same thing as you?
the verification nodes on Wanchain
are: Cross-chain transaction proof nodes, Locked account management nodes, and general verification nodes. What is the function of each and why was needed to separate them in different nodes?
You have a Desktop Wallet, can you provide a download link, as well as a minimum of hardware specifications to install Desktop Wallet.
and provide a tutorial on how to install it, not everyone can
how to stake in a desktop wallet, please give a video tutorial and what is the minimum, and what can be staked
Where the wanchain is located, or the main office and has spread anywhere the wanchain’s office,
When a user transferred ETH to Wanchain with the Storemen, can they use that same mapping token to transfer or swap to a coin of another Blockchain other than Ethereum?
Wanchain 5.0 Standalone Wallet! As far as I understand, I can only create a transaction in it, but I have to send it through an online wallet. What are the difficulties? Why is it impossible to make a transaction in it?
What are the advantages of using the Storeman node and wanBridge systems in the v3.0.0 version of the hardware wallet, and how does it enable offline operation from the Internet in creating valid signed transactions?
How does the offline wallet enable the user to fill in transaction parameters and send queries using their private key, and how is the signed transaction then verified on another machine via a regular online wallet? Is there a risk that this process will be interrupted, interrupted or not realized?
For WanChain, can we say that the best method among protocol based methods, multi signature based methods and threshold signature scheme (MPC / TSS) methods is MPC / TSS based? Why does WanChain use MPC / TSS based infrastructure?
I have a Trust Wallet. Do I need some kind of synchronization of my wallet with your platform in order to fully use the WAN? Or do I still need to install your wallet too?
2020 is almost over. But it was a tough year for the global economy! And also for cryptocurrency! Has Covid-19 Affected Wanchain? After all, there are times when large projects fail due to the loss of at least one team member. How interchangeable are your employees and can they delegate their responsibilities at some point? What will be the future development of Wanchain after the end of the pandemic?
Under the terms of the Partner-in program, Storeman receives all rewards from node. If Storeman cheats on me, can I immediately withdraw my funds? There is no temporary blocking? And at least 10,000 wan to enter is expensive for me. Is there any opportunity to participate in receiving awards for example with 1000 WAN?
All proof of stake (PoS) schemes aim to solve the the problem of reaching concensus in a decentralized way among all participants. However, many existing PoS schemes fail to address number of concerns which are of great importance to modern public blockchains, such as the stability and activeness of concensus participants, distribution of stake, etc. So, what approachable design did WANCHAIN team has accomplish inorder to address these concerns which are of great practical importance for an effective PoS scheme?
Can you tell us how the wanchain realy work?
Can you tell us why you build wanchain. What’s the main purpose of it?
Would you please tell us how could we use wanchain properly and how it will be helpful for us?
I know of another project that has abandoned the term DeFi and how do you promote Open Finance. Openness means access to other networks through the cross-chain? Then explain to me why you are doing this. The project I mentioned has its own DEX. And where are yours used Why are you building straight bridges,for lotteries and options?
Why did you keep the address format like that of Ethereum? I expected to see something similar to wan_888 … but I saw 0x …. Didn’t think that a person who does not know about you after seeing this address format will decide that this is a token and pass by? And the question immediately arises about marketing. I see that you have very informative social networks. This is probably the only way in quarantine to convey information to other countries. Do you have representatives on other continents? Perhaps the ambasodor program?
What is the role of the community in the governance of your crypto ecosystem in order to be able to call it community driven? Which members of the community can participate in the decision making?
The debut of Wanchain 5.0 makes it easier for the Wanchain community to launch a series of cross-chain DeFi dapps. And looking what’s on the horizon are (1)WanSwap (2)WanLend and (3)wanToken Farm, can you give us sneak overview of these 3 dapps which could attract more Wanchain users?
With all the hacking incidents (I even read the open letter of a platform that offered the hackers a cash reward in exchange for the stolen assets) right now which almost all or all of them passed audits, what is Wanchain’s reaction with all these events. Are you confident with the strength of your security. Do you have an on-going bug bounty program or have you ran a Wanchain bug bounty to test your security protocol?
“Total Storeman reward is limited with a HARD CAP to ensure that the high rate of return doesn’t cause too large an amount of funds to move away from Proof of Stake”. Can you explain what this hard cap is all about and who are eligible to recieve the Storeman Rewards?
At your website, Wanchain Real world application is being mentioned but it is not completely being discussed so can you please explain one of those real world application which is the Cross chain mobile payments. What is the function of Wanchain in Cross-chain mobile payments? How does it works with this service? What is the innovative ideas that Wanchain brought with this service to be applied in real world situation?
Can you please explain the proxy token being utilized in Wanchain network? What is this proxy token? How valuable and usable is proxy toke in your platform? What is the purpose of proxy token in your ecosystem?
Wanchain was started last 2017, so what are the ups and downs did you encounter while developing your project? How did you overcome those circumstances?
What is your plan to fund the marketing campaign for Wanchain that will be needed to gain visibility and build a large community user base?
Blockchain with its unique features is really perfect for future, but theory and adoption are completely different. With organizations level, how could WanChain approach-convince-promotion as well as barriers about regulations legal?
Recently, Wanchain 5.0 Mainnet just went live, so what was the landmark achievement in Wanchain’s cross-chain mechanism and cross-chain capabilites which really brings great impact to the Wanchain ecosystem?
For Farming in WanChain, Do all wallet applicable with your farm platform? what wallet did you recommended to use if we want to farming WansToken and FNX in there?
Wanchain recently released Wanchain 5.0. What is the difference of Wanchain 5.0 version compared to previous versions?
What advantages and differences does #crosschain Wanchain technology have compared to other crosschain projects?
What is “verification node consensus mechanism”? And what types of nodes are verified on Wanchain? Why is there decentralization of these node types?
Did Wanchain still using ERC20 blockchain ?
Can You explain the token utility and wanchain token allocation of the current circulation supply?
what makes world now need Wanchain service?
Also Did Wanchain shows up to fix any weakness in cryptocurrency space or to makes new impact and fiture that cryptocurrency space never have before?
Can you explain What is the main different of Blockchain developers and Blockchain Business in the Wanchain webs ?
Did Blockchain the only focus of WanChain?
Wanchain 5.0 offline wallet has been released according to your website. Could you please explain about this offline wallet? Is this a hardware wallet? Can I stake for nodes from this offline wallet?
You have mentioned in your blog about “PARTNER IN” that allows multiple addresses to set up a node together. This is a great function because most of the people cannot stake for a one node by himself. If I want to stake with a group of my friends how should we do through this PARTNER IN? How will it be helpful to us? Please explain
Wanchain 5.0 Mainnet is live now. What factors forced you to launch a 5.0 mainnet? Because going from 1.0 to 5.0 means a very long journey. What are the main updates and functions with 5.0 mainnet? What features have you added by 5.0 ?
Many investors today are worried about COVID-19, asking about its potential impact on teams and their projects. I’ve read times how most crypto teams are instead mostly shielded from this world pandemic, thanks to the very nature of their work, which is mostly virtual and through online collaborations.
What concerns me more, actually, is the predicament that many China-based fintech companies face, given the shaky political ground in China. The political situation there recently saw wild developments in the fintech sector: I could mention somewhat exchanges like OKEX or Huobi as examples of recent government involvement and (mostly negatively) meddling in crypto businesses. Even more recent news saw China’s leading authorities vetoing Jack Ma’s Ant super-mega-IPO.
So, again, given the fact that your dev is China-based at the moment and the difficult political instability in the fintech sector, what would you say to reassure that this project and its actual & future investors’ funds will be SAFU and not the target of any potential authorities shake down in short or mid-term future?
Do you have a plan to put bitcoin, ethereum and others in stake on Wanchain to increase the volume of storemans?
One of Wanchain’s core features relies on the creation of a decentralized crosschain mechanism, anticipating the potential issues that the Ethereum network might face in sustaining the decentralized finance ecosystem.
That’s where WanTokens play a big role, enabling inter-chain compatibility into Ethereum DeFi from other public blockchains. So, given Wanchain’s call for intercompatibility and interoperability, how is Wanchain positioning in the market compared to other players focusing on these key aspects (e.g. POLKADOT, COSMOS, etc…)? Is it correct to consider them competitors or maybe potential partners?
How much higher is the reward for delegating to a Storeman node vs a validator node?
Wanchain is the most advanced blockchain compatibility, Polkadot is true compatibility. How can you describe the benefits of Wanchain? If you can use the example of created applications (if there are any)
Hi all
I am very concerned about Dego’s connectivity projects, for example Bounce. But it seems Bounce is not playing well, how do you plan to avoid this in the future?
Most of the dapps on your website seem to have been developed in-house, I also couldn’t find Wanchain on amongst blockchains listed on dappradar. How do you plan to attract more dapps developers to start using Wanchain?
Currently, BSC DEGO market is too small, do you plan to develop this market?
One of Wanchain’s core services is a cross-chain mechanism. Could you please explain what improvements you have made in terms of speed and cost reduction?
How many projects will Wanchain partner with and provide a competitive advantage and what is your company’s strategy to attract new big investors to your project?