Wanchain announced the formation of a cross-chain coalition with AION and ICON

Reporter: pencil boxn
At 11:00 am EST on Nov. 28, at the Consensus: Invest 2017 conference in Coindesk, New York, the joint venture between Wanwei Chain and AION, ICON announced the formation of the Blockchain Interoperability Alliance, Block chain cross-link technology research and development of international standards to collaborate.n

Wanchain and AION, ICON set up a cross-chain alliancen
With the exploration of blockchain technology and its application in recent years, the blockchain has been widely used in the areas of finance, health care, supply chain traceability, publicity of deposit, intellectual property and other fields, and a large number of public chains, coalition chains And so on, more and more different blockchain networks, the above assets are more and more, each digital token can be compared to an isolated island of information. However, problems such as network isolation, information isolation, scalability, and privacy and security before the chain have become increasingly prominent, which greatly limits the imagination of the block chain innovation. How to link isolated islands and establish a value circulation channel for different blockchain networks will be of great significance, which is a new trend in the development of the technology for the next generation of blockchain.n
The problem of cross-link is essentially to solve the problem of accounting when the same asset on two ledgers occurs. From ancient banks to modern banks, each has its own separate account. When their clients transfer assets between different banks, different banks need to solve the problem of accurately accounting for both books. In essence, the central bank’s liquidation system, third-party payment, CUP and other institutions are all from different dimensions to solve the above problems (centralized way), R3 is also to establish a blockchain mechanism to solve the above problems . Therefore, the transfer of assets under different scenarios of accounting is the most basic financial issues, all the financial services to carry out the premise.n
The purpose of the chain is to create a public chain to achieve cross-chain transactions, which in turn provides a platform for digital asset transactions and provides an infinite potential infrastructure for financial markets for digital assets. Multi-asset access, smart contracts, privacy protection mechanisms are the three major characteristics of the World Wide Chain, the combination of these three features to solve the financial multi-asset accounting issues, contract enforcement issues and transaction privacy issues, more distributed Financial applications can be developed on the Web. In addition to bitcoin, Ethereum and other public chains, the founder of the chain Lvxu Jun Wanxiang introduced, “the design of the World Wide Web chain, the upper is the public chain, the middle is the World Wide Web chain, and below is the LAN, we would like to enterprise-class district Blockchain systems and government or public blockchains are also linked to the World Wide Web for complex functions and compliance requirements. “According to Dustin Byington:” Technically speaking, The link between the different blockchain ledger, privacy protection issues; from the perspective of future application scenarios, the chain hope to not only as a cross-chain transactions and multi-asset interoperability blockchain project, but also an open source Of the underlying development of blockchain, while enabling cross-link transaction capabilities, any developer can develop applications that meet the requirements of the Web based on application requirements. “n

Dustin

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