Wanchain — Dustin Byington — Rebuilding Finance with Private Crosschain Smart Contracts
Finding Genius Podcast
Richard Jacobs
4.4 • 1K Ratings
🗓️ 21 February 2018
⏱️ 22 minutes
🧾️ Download transcript
Summary
One of the most important questions in the blockchain and cryptocurrency spaces going forward is how to connect digital assets that are located across multiple blockchains. Wanchain offers a unique solution that allows individuals to connect to any chain in a permission-less manner while using ring signatures in order to maintain privacy, but otherwise still allow for transactions to be verified. When funds are moved between chains, they are locked by a group of validators that do not have access to those funds, and who all have an economic incentive to act honestly.
Wanchain recently announced their own decentralized exchange, which has been designed to solve both technology and end-user problems. The use of an Ethereum fork allows Wanchain to use not only Ether, but also ERC20 tokens and protocol tokens.
This also provides necessary liquidity pools and faster transactions. Dustin also discusses Wanchain's goal to strategically build the ecosystem further, how to appropriately scale to match the pace of the blockchain industry, and more.
For more information, visit www.wanchain.org.
Transcript
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| 0:00.0 | Welcome to Almost Here, Around the Corner of Future Technology Podcasts with Richard Jacobs. |
| 0:07.5 | Future Technologies are always to transform our lives for better or worse or the focus of this podcast. |
| 0:13.2 | Almost here means these technologies are now here and starting to be used, or just around the corner. |
| 0:18.7 | From Bitcoin to artificial intelligence, 3D printing, |
| 0:22.6 | blockchain, virtual reality, and more. |
| 0:27.1 | Hello and welcome everyone to the future tech podcast. |
| 0:30.8 | My name is Josh Thomas, and I'm here with my good buddy, Dustin Buyington, from WANChain. |
| 0:41.5 | And Wanchain is rebuilding finance with private cross-chain smart contracts. Hello, Dustin. Hey, Josh. How's going? Oh, it's going great. We're really glad to have |
| 0:48.9 | you here. You know, WAN chain has been making a lot of news in the last few months and everybody's really excited about it. |
| 0:56.1 | But for those of our audience that may not be so familiar, could you give us a little bit of an idea of what you're doing and why it's so important? |
| 1:04.3 | Sure. Well, you know, Wanchain was started by Jack Liu, who is the technical co-founder of Factum. |
| 1:12.5 | And Jack Liu was, Factum has this multi-chain architecture and was in one of the kind |
| 1:18.0 | of very early pioneers of the space. |
| 1:21.1 | And so Jackson's thinking about how we can connect the various blockchains for quite some |
| 1:26.2 | time now. |
| 1:35.5 | And he's come up with a very pragmatic solution that is unique in the fact that this cross-chain technology that we've built allows us to connect to any chain in a permissionless manner. |
| 1:43.6 | And that means that none of these chains need to upgrade |
| 1:47.0 | their software either via a soft or a hard fork. And so we don't need permission from any of them |
| 1:53.0 | to connect. And it's also fairly simple or straightforward and compared to a number of the other solutions. |
| 2:01.7 | And so we think that we can roll the solution out quite rapidly and scale it quite effectively. |
| 2:08.2 | So in other words, you don't have to knock on your neighbor's door to borrow the cup of sugar. |
| 2:12.4 | You can just go straight into their coverage. |
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