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Wanchain Cross-Bridge Brings DeFi to XRP

Early yesterday morning, the Wanchain Cross-bridge firm revealed that “most Defi applications now accept XRP and XRP token owners can use theirs on them.” The blockchain interoperability network keeps making effort to live to its aim of linking various solitary blockchains.

What Do You Need to Know About Wanchain?

Below is a summary of what Wanchain is all about:

“Its name is a combination of the Chinese word, ‘wan’ and ‘chain’. Wan means 10,000 and the chain is derived from the name ‘blockchain.’ Hence, Wanchain means 10,000 blockchains. The network uses solidity to support the growth of smart contracts. It also provides support for decentralized cross-chain functionality and private trade deals made with the ring signature. Its storeman node system uses a decentralized cross-chain solution by combining decentralized account management with threshold secret sharing, atomic swaps, and secure multiparty computation. The Wanchain platform allows a developer to offer an NFT or a fungible token, develop decentralized applications and write smart contracts. Blockchain assets can also be connected with and circulated on Wanchain using the platform’s cross-chain features, especially consortium chains, public and private assets.”

According to an online article published earlier this month, Temujin Louie who is the Directory of Marketing at Wanchain said “cross-chain bridges that connects ETH, XRP ledger and Wanchain are fully operational on each platform’s major networks.”

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Hence, XRP holders can “safely use their tokens to create, mine, and even convert to cash instead of allowing their tokens to become inactive, in exchanges or their wallets.” RippleX’s developer relations director, Matt Hamilton revealed on the bird app yesterday that he plans to have a live chat with Jack Lu (CEO and founder of Wanchain) today by 19:00 UTC on the RippleX developer twitch stream.

Matt Hamilton Tweet. Source: Twitter

Also, another highly revered XRP enthusiast and crypto expert with the username @sentosumosaba on the bird app will be interviewing Wanchain founder tomorrow.

Sentosumosaba Tweet. Source: Twitter

Positive All Around News Regarding XRP This Week

XRP price has increased by over 630% (when compared against the USD) this year alone and it seems it will continue this uptrend with the interoperability between XRP and Wanchain. TradingView analysis shows that the XRP price attained its highest intraday price (for the past three years) this morning when it reached $1.6113.

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TradingView’s 1-day XRP/USD chart. Source: TradingView

Apart from Ripple lawyers’ little triumph over America’s SEC, there was another exciting XRP news that didn’t receive enough reporting last week and that was the disclosure of Matrix Mortgage Global. The Canadian-based company said it would start accepting XRP as a crypto asset when receiving payments for goods and services. For example, they will accept BitPay to register as a mortgage agent.

The firm’s founder, Shawn Allen, said, “we will now be digital currencies in a bid to conform with the worldwide acceptance of these virtual assets which will establish our status as great pioneers of the mortgage industry. There will be significant changes in mortgage processing when smart contracts blockchain technology becomes fully adopted.”

Shelly Melancon (Switzerland)

Shelly is a cryptocurrency enthusiast from Switzerland, she bought her first crypto in 2015 when it was way less popular then it is today and since 2017 she has been writing about cryptocurrency for online news portals. Shelly is the newest addition to the Tokenhell team, she writes mostly news and reviews related articles , stay tuned to her posts to stay up to date with the crypto world.

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