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The interoperability project Blockchain Wanchain has released the 3.0 update, which allows cross-chain transactions between the Bitcoin and Ethereum networks. The WanChain team provides an example of a transversal transaction:
"An example of cross-chain Bitcoin-Ethereum trade is enabled by Wanchain by blocking native tokens on their respective chains with smart contracts and Storeman nodes, creating a proxy token on Wanchain (eg Wanchain-ETH), then releasing smart contracts for the redemption of coins on the original chain. "
The Wanchain 3.0 update offers decentralized Ethereum-based exchanges the ability (via Wanchain) to list the BTC pairs, potentially expanding their user base and their liquidity.
Wanchain has also integrated the DAI stablecoin
In addition to BTC – ETH cross-chain transactions, Wanchain now also supports MKR and DAI tokens, which feed the MakerDAO ecosystem. In the future, when the multi-sidean DAI will be available (at the moment, only ETH can be used as a guarantee), this would make it possible for Bitcoin to be used as a guarantee for the DAI stablecoin.
According to the Wanchain team, the most supported ERC20 tokens will be announced in the near future.
The "winter crypt" is not too friendly even for tokens issued by blockchain projects, even if they are making significant progress. When Wanchain 3.0. it was released December 11, the token has seen some positive action on prices, but continued to fall on December 13th. The WAN token is currently trading at $ 0.29 with a market capitalization of $ 31.6 million.
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