Zooko Warns Bitcoin Community About Overconfidence

Jack Lu, CEO of Wanglu Tech and co-founder and former CTO of Factom, headed the platform's design and development. Wanchain goes live in November 2017.

According to Wanchain's whitepaper, released today, any blockchain network—whether public, private, or consortium—can integrate through a decentralized cross-chain mechanism and universal cross-chain protocol. These methods enable low-cost inter-ledger asset transfers. The platform also incorporates smart contract functionality and Turing completeness, operating as a complete blockchain.

Bo Shen, a partner at Fenbushi, sees the project addressing a critical gap. "Wanchain addresses issues associated with inter-connections between blockchains while serving as a super financial market in the new digital economy," Shen said.

The space for solving blockchain interoperability has grown crowded. Cosmos exists as a network and framework connecting separate blockchains through a central Cosmos Hub. Blocknet stakes a claim as the "Internet of blockchains," providing general-purpose infrastructure for inter-blockchain services. All three projects target the same fundamental challenge: enabling different blockchain networks to communicate and transfer value between them.