A trending concern during the bull market in 2017 was the race for interoperability blockchain. At the time, we saw very successful projects such as Fusion’s DCRM and Wanchain DCRM born. Then the bear market began and the interoperability of blockchain production was no longer as heating as it was once. But both of these projects sought to improve their ecosystems; in this same area, they were also joined by a third group, Ren.
Why Fusion’s DCRM, Ren and Wanchain ?
However, no single project could be considered as the head of the interoperability niche which, despite the architectural discrepancies, links all blockchains and facilitates their communication. Of course, the blockchain space would need such a project sooner or later!
This necessity was even greater during the recent DeFi boom, with the majority of services and applications confined to the Ethereum blockchain, involving just a small portion of Bitcoin (a little over 0.1% of the BTC that circulates). At the same time, there are virtually nothing to other giant blockchains like Ripple and Litecoin. Through these block chains, billions of dollars are locked and can not be used for the DeFi area.
In this article, we will review the three potential projects Fusion’s DCRM, Wanchain and Ren, that can solve these problems with DeFi and make this place at the next level. The projects are compared on the basis of key criteria and other aspects so that we determine which project has the highest opportunity to become the blockchain which connects all blockchains. But let’s just explain first why these three projects were chosen in particular.
It is true that there are many projects specialising in the interoperability field, but having taken into account a few variables including technology, a team’s expertise, the quality of a project as well as its growth and the community.
Many people in the crypt space consider interoperability to be specialised in projects such as Cosmos or Polkadot while actually using a model for compliance. The principal distinction between interoperability and compatibility is that contact between parachains is allowed by a central hub in the compatibility model that requires a norm, and that other chains must adhere to it to be part of the ecosystem. It seems that the top priority of these two ventures is not to bind blockchain but rather to replace Ethereum and attract new chains and ventures.
On the other hand, Fusion’s DCRM , Wanchain and Ren are using a real, crypto graphical interoperability model. These three projects aim to develop ecosystems that allow the communication between various blockchains without confidence decentralised.
These security strategies are aimed at using decentralised custody technologies. The exchange method is similar to current models such as the WBTC (1:1 ratio minting assets on other blockchain platforms). In our contrast, however, three projects use very advanced solutions to manage your assets in a totally trust-proof and decentralised manner, unlike WBTC, which retains your original assets within the central entity (BitGo) and needs KYC.
Fusion’s DCRM
Fusion’s DCRM is a fully decentralised network for intelligent contracts. The main objective of the project is to become an ecosystem that links the various blockchains, enables them to interact and connect world finance to blockchain technology. DJ Qian, a leader in blockchain research and mining in China, founded Fusion.
The DCRM “Decentralized Access Rights Management” is the key component of Fusion’s DCRM technology. The principle of “private key sharding” protects the security of users. The Time-Lock feature was also introduced by Fusion. It is the first blockchain with its smart contracts to use the idea of time. This opens the door to complicated financial transactions, including derivatives, loans and mortgages.
With the DCRM Alliance joining new projects and with a forum for decentralised applications, including WeDeFi and Anyswap, the Fusion ecosystem is growing fast.
WeDeFi: It’s an easy-to-use wallet designed for Android and iOS apps. Users can save and manage their money. In weDeFi you can deposit your FSN coins in a lottery, without losing your lots. If you win or you lose, you can get back your coins.
Anyswap: Managing chain transactions is currently the only swap protocol in the blockchain space. Anyswap has a method of self-supporting pricing and liquidity and uses DCRM of Fusion as an integrated solution. The software supports all DCRM-based tokens and tokens, including: BTC , ETH, XRP, LTC, ADA, ERC-20 and several other coins and tokens. This includes: Anyswap has recently adopted the “ANY” token of management and announced a strategic alliance with Hotbit, which includes USDT in the network.
Wanchain
Wanchain is another intelligent contracting interoperability network project. It permits the data and value exchange among private, public and consortium blockchains. Private transactions are allowed on the basis of ring signatures.
To ensure the protection of users’ properties, Wanchain uses ‘stable multipart calculation’ and ‘Shamir’s Hidden Sharing’ concepts. With future plans for direct connexions between these various blockchains, Bitcoin, Ethereum and EOS have now been incorporated into this cross-chain solution in its ecosystem.
Two Wanchain-built projects were launched earlier this year:
Rivex (RVX): This is an interoperable and scalable layer 2 solution aimed at combining the strengths of public and side chains to allow decentralised applications to be created next generation.
FinNexus (FNX): a project focused on the development of open financing protocols in DeFi. FNX has launched its first app, a decentralised liquidity pool protocol for both Wanchain and Ethereum.
Ren
Ren is a protocol allowing unauthorised and private values to be exchanged between various blockchain modules. The key product of the project is the RenVM virtual machine, a positive guardian who provides DeFi with Ethereum interoperability ..
The RenVM is responsible for cross-chain communication. There are assets which the users wish to pass and a wrapped ERC-20 token for Ethereum blockchain use can be used. RenVM lets the Ethereum network mind Bitcoin, Bitcoin Cash and Zcah, with plans to add coins on the Polkadot network.
For eg, if the BTC in Ethereum blockchain is to be used: You hand it over to RenVM, it keeps and denies the BTC in Ethereum with 1:1 ratio, as a RenBTC token (ERC-20). This is assured by Shamir ‘s exchange of secrets and safe multiparty computation – you’ve probably guessed.
RenVM can be used as an Ethereum-built decentralised plug-in. Users will benefit from Ren’s cross-chain liquidity once they have been implemented in a smart contract.
Ren is an ERC-20 coin cryptocurrency. It is used to run the entirely code-regulated dark nodes.
Comparative Analysis
Project’s Nature
Fusion’s DCRM , Wanchain DCRM, and Ren DCRM are three projects focusing on cryptographic interoperability for linking siloed blockchains. There are however some basic differences, beginning with their design, between these projects.
Infrastructure projects are Fusion and Wanchain. Every project has its own Mainnet and smart contract platform for the development of dApps and for token creation along with the interoperability components, while Ren is an interoperability protocol based on Ethereum.
The Fusion’s DCRM team created a unique ideas to create an ecosystem for DeFi in addition to its chain-based approach based on DCRM technology. For example, the TimeLock feature permits the use of the multi triggering method, which is considered the next generation of intelligent agreements, to execute complex financial transactions that require time. Fusion’s DCRM provides several additional DeFi-focused functions such as quantum swap and USAN swap. Two projects on the Fusion platform are currently installed. Anyswap and WeDeFi.
It has already incorporated Bitcoin, Etherea, and EOS blockchains into its ecosystem. Wanchain is also an interoperability project. To date, Wanchain has developed two DeFi projects: FinNexus and Rivex.
Interpolability and Decentralisation
Now let’s talk about these three projects’ interoperability.
With Fusion’s DCRM, Fusion created an ecosystem supporting blockchain integration that includes ECDSA (Bitcoin , Ethereum, Litecoin, etc.) and the algorithms of signature EdDSA (Cardano, NANO, Stellar, WavES, even Facebook’s Libra!). This means that practically every blockchain can be integrated into the ecosystem of Fusion.
DCRM currently has approximately 45 nodes. Only shards of his private key will be sent to these nodes after the user locks in the Fusion blockchain. Therefore, the accuracy is fully secured. The Fusion Foundation does not have a majority of DCRM nodes. Thus, Fusion is completely decentralised in its cross-chain solution.
Wanchain is another blockchain which aims to create a blockchain ecosystem. The method is slightly more sluggish, since blockchains are individually implemented. However, the road map recently released shows that Wanchain is beginning to operate on the direct bridges across the blockchains.
The interoperability of Wanchain uses stormy nodes (compared to the DCRM nodes of Fusion’s DCRM). The Wanchain foundation still has these nodes but their decentralisation is being checked and the complete decentralisation of the storehouses is scheduled for 2021.
Ren does not have an environment where all blockchains can be linked. Instead, its main software, RenVM, provides interoperability. This virtual machine builds bridges between various blockchains. RenVM currently provides liquidity for ECDSA blockchains from BTC, BCH and ZEC to Ethereum applications. Ren plans to put the Polkadot blockchain to liquidity in the future.
RenVM cross-chain technology is still centralised in Mainnet SubZero at present. The team claims that the Ren team and other Ren Alliance partners provide a “semi-decentralized” solution, due to the fact that no KYC is needed.
Also essential, Fusion and Wanchain Code are open source and can be accessed easily. On the other hand, some core sections of Ren ‘s code are a closed source, and the reasons for this decision are several questions asked. The team did not give a straightforward response.
Token Use Cases
A significant factor in calculating the actual value is undoubtedly the use cases of a certain token. Markets are not always fair, but sooner or later tokens appear to be of real value in conjunction with the nature of their services for consumers.
In Fusion’s DCRM cross-chain DeFi features and implementations, the fusion coin (FSN) has various use cases. For paying network gas fees and running DCRM nodes FSN is used. It can be used in various transactions of Time-Lock: borrowing, loans, loans, etc. In addition, FSN owners will contribute their coins and gain passive revenue.
In Fusion dApps, FSN coin can also be used. The other dApp on Fusion’s DCRM was Anyswap and the only way to get its governance token was Fusion coin. WeDeFi enables coin holders to use their Safebet non-loss lotteries and carry out Time-Locked FSN.
The FSN is used for similar purposes in the case of Wanchain coin (WAN), for the payment of gas fees for transactions like Rivex and FinNexus. It can also be found in Wanchain ‘s various dApps. Wan holders can invest their coins in order to earn passive income or run validator nodes. Wancoin would also have to operate the new interchangeable storage nodes.
Ren is a protocol, not a network, so the token Ren has far fewer cases than FSN and WAN. The Ren Token is primarily for running the darknode. Approximately 100k Ren toks are necessary for the running of the node, this high number has been chosen to increase the quantity of locked tokens.
Take a look at the rates and market caps of the three ventures and decide which coin or token provides the best shopping opportunities right now.
Which is the best project to invest in?
Ren is the one in the centre of focus during the DeFi boom of the three projects. Especially because the field of DeFi was restricted to Ethereum, a blockchain that is liquidated by Ren. The current market cap of Ren amounts to around $400 million, Wanchain is around $54 million, and oddly, Fusion’s market cap only amounts to about $26 million.
Yeah, Fusion’s DCRM is the decentralised cross-chain network with exclusive DeFi features such as Time-Lock and the lowest market cap on dApps such as We DeFi and Anyswapp. It is, of course, one of the three most undervalued ventures, but it is one of the undervalued cryptocurrencies on the entire market, even after our confrontation. The second highest adoption rate in crypto space according to CoinStats. It measures the popularity of a specific project against its market cap, allowing investors to look for projects that could be introduced at any time.
Conclusion
Fusion’s DCRM , Wanchain and Ren are three important projects that work towards a completely decentralised interoperability of cryptography. Centralized custodians such as the WBTC, the hub and zone model Cosmos and Polkadot are now available on the market, requiring new chains to follow a certain standard.
The three projects in this contrast share certain similarities, but in certain important aspects they are also distinct. Fusion and Wanchain are intelligent networks for contracts and each have their own blockchains and tokens. Ren is an Ethereum blockchain protocol that includes RenVM as a core component.
The cross-chain solution from Fusion is based on DCRM technology , providing more possibilities for integration. Today, it is the only system that is completely decentralised from three cross-chain solutions. After launching of decentralised applications and platforms such as WeDeFi and Anyswap, and implementing practical features such as the Time Lock function, Fusion is becoming increasingly adopted.
Ironically, of the three programmes, Fusion’s DCRM has the lowest sales limit. This can be seen as a perfect way to invest in a project that offers better technology than some of the top 30 market cap cryptocurrencies.
Sources
Fusion
Wanchain
https://medium.com/wanchain-foundation/2020-road-map-mid-year-update-d4b8ff1867f9
Ren
https://medium.com/renproject/how-renvm-actually-works-c2f76a2630c4
https://medium.com/renproject/renvm-mainnet-release-plan-761f1c2c0752
