What is the blockchain cross-chain mechanism? What are the applications? Interpretation for you by Wanchain on August 18

Blockchain is considered a trust-creating machine. With the prosperity of the token economy, the limitations of blockchain performance, the single function, and the homogeneity of projects are gradually exposed.

Cross-chain technology has become the key to the realization of value network transmission, and the blockchain is a bridge for outward expansion and connection. The cross-chain problem is essentially to solve the accounting problem when the same asset on the two ledgers is exchanged. From ancient money houses to modern banks, each has an independent account book. When their customers transfer assets between different banks, different banks need to solve the problem of accurate accounting of the two accounts. Essentially looking at the central bank’s clearing system, third-party payment, UnionPay and other institutions are solving the above problems from different dimensions (centralized way). The existence of R3 is also to establish a set of blockchain mechanisms to solve the above problems. . Therefore, the accounting problem of asset transfer in different scenarios is the most basic problem of finance and a prerequisite for the development of all financial businesses.

Blockchain and digital assets are developing rapidly. There are more and more different blockchain networks and more and more assets on them. It is of greater significance to solve the problem of cross-ledger transfer of assets in the blockchain world. At present, centralized institutions or individuals such as exchanges are the main way to solve the above problems. Within a certain period of time, these methods have greatly promoted the application and development of digital assets. However, the centralized mechanism will inevitably bring about security issues, trust issues, and oligopoly issues that exist in traditional finance. This is contrary to the concept of decentralization, openness and fairness of the blockchain.

From a technical point of view, it is the essence of cross-chain to connect different blockchain ledgers and solve blockchain problems in a blockchain way. From an application point of view, only by solving the problem of value transfer, the financial innovation value and network effect of blockchain can be more significant.

As the representative technology of Blockchain 3.0, cross-chain technology enables assets and information on two or more different chains to be transferred, transmitted and exchanged with each other through a trusted mechanism, just like building a bridge between two islands. At present, many blockchain projects have mentioned cross-chain. What is the essence of cross-chain, and what problems need to be solved by cross-chain is rarely discussed.

The literal understanding of cross-chain is that the scheme of connecting different blockchains to build a bridge is one aspect, but at least it is necessary to figure out what the bridge will pass, pedestrians, cars, and trains? As a cross-chain basic public chain project, with the release of Wanchain 2.0 docking with the Ethereum cross-chain mainnet, we specially organize a cross-chain mechanism and application ecology exchange meeting, hoping to help everyone to discuss and think more deeply through the event, and understand Wanchain's cross-chain design And realization, and the ecological form of the future application of cross-chain technology.

What is the blockchain cross-chain mechanism? What are the applications? Interpretation for you by Wanchain on August 18

Wanchain 2.0 & WanLabs Eco Beijing Station

Blockchain cross-chain mechanism and application ecology exchange meeting

Time: 13:30-17:30, August 18

Venue: Taiku Science and Technology Road Show Hall, 3rd Floor, Block A, Dinghao Building, Zhongguancun

Sharing highlights:

The event will bring a lot of wonderful content to share. Firstly, Wanchain founder/CEO Lu Xujun Jack Lu will bring the theme of "regional cross-chain interoperability, next-generation blockchain network" to share, and secondly, Wanchain Austin team chief engineer, R&D director Zhang Weijia, Vice President of Product Yang Tao will introduce the blockchain cross-chain mechanism and the realization of Wanchain 2.0 technology from the perspective of technical products; Thirdly, Wanchain Vice President Li Ni will introduce the current status of Wanchain ecological construction and the specific content of the WanLabs\WanEco ecological acceleration plan. Finally, THEIA: Cross-chain dividend wallet, blockchain-based digital asset lending application TokenLoan, using the protocol layer network to build the value exchange ecology of the blockchain world Litex, ChainFund/Intellos/Freedium and other projects will discuss blockchain from the application level Landing application.

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