WaltonChain is an open source platform built on the blockchain that uniquely integrates blockchain, RFID technology, and the Internet of Things to promote industry transformation.
What is Waltonchain?
- Waltonchain aims to build a blockchain infrastructure that leverages radio-frequency identification (RFID) technology to facilitate the development of the Internet of Things (IoT).
- Users can build various sub-chains according to their own needs. Waltonchain provides data, including property ownership data, commodity flow data, etc., which is authentic, hacked resistant and timestamped.
- Waltonchain uses a hybrid consensus mechanism that supports Proof of Work and Proof of Stake.
- The WTC token is used for paying gas fee for token transactions and smart contract execution, staking, voting for governance in the community.
|Total Token Supply||83,161,705|
|Current Circulating Supply||See Coinmarketcap|
|Market Capitalisation||See Coinmarketcap|
|Token Creation Date||March 2018|
|Can it be mined?||Yes|
Who is behind Waltonchain?
The project is named after Charles Walton, the inventor of Radio Frequency Identification (RFID) technology. Xu Fangcheng is a founder and Do Sanghyuk is one of the co-founders who was previously the director of the Korean Standard Products Association.
What is the purpose of Waltonchain?
Waltoncoin token (WTC) is used to create side chains, provide dividend interest, credit and mortgage system, distribute to asset exchange and decentralized exchange, and vote in the governance system.
These side chains operate independently of the main chain with their own consensus mechanism to improve scalability while retaining security of the main chain. The dividend interests are paid to Masternodes whose main function is to validate transactions, secure the network and enable governance mechanisms.
Waltonchain combines blockchain with IoT (especially RFID) to create a supply chain management system. Internet of Things (IoT) basically integrates the data collected from the web-enabled devices. The IoT platforms are able to point exactly which information is useful and which one can be ignored. However, IoT being a centralized network requires approval to connect the devices.
Therefore, Waltonchain as an intermediary approaches to secure a decentralized access by implementing Value Internet of Things (VIot). Waltonchain uses RFID to track products during each step of production and distribution. The data associated with each item is stored on an immutable blockchain that ensures its accuracy.
- Waltonchain is a parent chain which tracks Waltoncoin (WTC) transactions, manages sub chains, and executes smart contracts in the Walton ecosystem.
- Users can create their own sub chain, have their own tokens and have a consensus algorithm that is different from the parent chain. The separating network helps the network scale and avoids the crowded network activities of the parent chain.
- Waltonchain uses Proof of Contribution (WPoC) consensus that combines Proof of Work (PoW), Proof of Stake (PoS), and Proof of Labor (PoL). The parent chain uses a combination of PoW and PoS, which means that as WTC token holders, they will receive dividends by holding the tokens in your wallet.
- The network utilizes Proof of Labor (PoL) for data exchanges between nodes on the parent chain, child chains and cross-child chains.
- There are two types of Masternodes in the Walton ecosystem, Waltonchain Masternodes and Guardian Masternodes; Waltonchain Masternodes validate transactions that are made on the network and every validated Masternode will receive a reward for each block. Guardian Masternodes secure the network through the implementation of the Proof of Work (PoW) consensus algorithm.
- Waltoncoin (WTC) is used to perform activities on the parent chain through byte fee payments, facilitate collaboration between sub-chains and contribute node rewards for maintaining the network.
- Ethereum does not currently support the sub-chains, so users are unable to build Dapps on their platforms.
- The token owners will not receive any rewards from the Walton ecosystem.
News and Updates
- Waltonchain and the blockchain technology R&D company “MEDIUM” have signed an agreement to develop the Chinese market together.
- Waltonchain introduced a variety of new features that will be enabled by Waltonchain’s parent-child chain architecture, including the creation of a nonfungible token (NFT) product platform as well as a suite of decentralized finance products such as a decentralized exchange, a liquidity aggregation platform and an insurance pool.
- Waltonchain ecosystem airdropped WTC tokens to each Guardian Masternodes address.
Community & Whitepaper Links:
All investment is speculative and involves substantial risk and uncertainty. Investors should understand the nature of digital assets including the terms of return and the risk of assets. We encourage investors to fully understand the assets and the risk associated with them prior to making any investment.
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