Waltonchain | Things you must know before you start trading in Waltonchain
Hey Guys, Let's talk about Waltochain. I am really excited about this new entrant.
- Waltonchain Introduction.
- How Waltonchain Works?
- An Introduction To Waltonchain Team.
- Waltonchain MarketCap.
- How To Buy Waltonchain Cryptocurrency?
- Waltonchain Wallets.
- Waltonchain Roadmap.
- Waltonchain Official Resource.
Waltonchain is essentially doing something disparate, combining blockchain with IOT(specifically RFID). The purpose of doing so is to create a management system for the supply chain. Logistic eco-system itself is distinctly complex and the sub-system itself has loads of data to depend upon. Each vertical under the logistic eco-system is so complex that to co-relate and understand the process of individual entities is definitely time-consuming. Nevertheless, RFID has proved to be a long-lasting solution in the logistics space.
The project Waltochain is named after Charlie Walton, the inventor of RFID technology. Though the project was officially launched in 2017, founders were working on this project since 2015. The core concept behind this project is RFID technology which is being extensively used to track the products during production as well as distribution. To reduce the convolution of the process, data associated with each product is stored in an indelible blockchain to ensure the accuracy.
The video is self-explanatory. The Waltonchain is using hardware(chips) and software(RFID) to optimize and provide an efficient solution to the different industrial verticals.
The project is term as rare and promising by most of the cryptocurrency laureate. To take Waltonchain to the common people, The Waltonchain Foundation has taken an initiative to exclusively fund Walton blockchain institute in Seoul, South Korea.
The project emphasizes integrating blockchain with IOT and thus creating an ecosystem which is built on the foundation of high-quality project integration, education, and research.
The Waltonchain blockchain institute has launched blockchain related course materials and the individual who will complete the course will receive an expert qualification certification. The institute not only nurtures blockchain related talent but, also provides support and resource to the cryptocurrency startups. In the coming future, the institute will not only provide office space but also venture capital to the startups with innovative ideas.
[How do Waltonchain works?]
To understand the working of Waltonchain, we have to understand some technical terms.
The Value Internet of Things(VIoT)- In simple words, this can be seen as an introduction of blockchain to the Internet of Things. The technology aims at solving the problem of centralization facing the development process of the Internet of Things.
RFID- The Radio Frequency Identification technology is a communication technology that is efficient at identifying specific targets, and read and write specific data through the radio signals without building a specific connects between the source and the target.
Radio Frequency Tags- The radio frequency tags are the physical carriers of electronic product code(EPC) which are attached to traceable items, identifiable, readable and writeable.
The Waltonchain has been successful in developing patented chips at a very less cost. The low manufacturing cost enables these chips to be embedded in bulk in many products across the industries. The patent technology and the company's owned manufacturing units give Waltonchain an edge in this competitive world.
Adding to the above-mentioned feat, Waltonchain has also developed an in-house blockchain which is compatible with the present Ethereum technology. The blockchain working style is a hybrid of proof of work and proof of stake mechanism where both mining and staking happens simultaneously.
The fuel of Waltonchain ecosystem is Waltonchain Coin(WTC).To mitigate the scalability issues, Waltonchain blockchain has inculcated both the primary chain and the child chain structure. By doing so, it will not be facing the congestion issue as Ethereum is facing today.
The partners can form their own independent side chain which is customized to their business needs.
Let's understand the working of this blockchain with an example.
A drug which is of very high demand in the USA needs to delivered to ten outlets from the manufacturing unit. The most important thing that needs to be considered is the temperature that needs to be maintained in the entire process. The minimum temperature that needs to be maintained is 5-degree Celsius.
We know this type of process includes exchanging of several hands. So, to check the success of the transit isn't an easy task.
Here, Waltonchain comes into play.
Waltonchain uses RFID technology which records the temperature whenever either there is a transfer of hand or change in the ecosystem temperature. By doing so, Waltonchain blockchain solves two problems. The first one is the analysis of loopholes in the real time, and the second one is the evaluation of the success of the process.
Let's talk about Waltonchain and the sub-chains. Waltonchain is the main chain in the Walton ecosystem. This chain is responsible for keeping a track of Waltonchain coin (WTC) transaction, managing the sub-chains, and executing smart contracts.
Waltonchain technology supports customization, and thus anyone using this technology can not only create its own sub-chain but also at the same time can create their own tokens. Separating the parent chain structure with the sub-chain can fetch lots of benefits especially to the partners of the Waltonchain technology. The first and foremost benefit the partner can reap is the benefit of customization as per the need of their business. Secondly, most of the data of the business partners reside on the secondary or sub-chain so the efficiency of the primary chain will remain unaltered even though there is a problem with sub-chain functionality.
Ethereum doesn't use the concept of sub-chain and as a consequence of that, you may face congestion issue with this blockchain.
WTC's are the primary coin of the Waltonchain ecosystem. To my knowledge and research, 100 million WTC's has been issued to genesis block and there is no scope of further creating more. The total supply of the coin is distributed into 70:30 ratio. The current supply is 70 million coins and the rest will be mined over the next few years.
If we talk in simple words, the functionality of the coin is the perform the primary chain activities by being the transactional coin. Rewarding the nodes for maintaining the network, and also helping the sub-chains to collaborate are some of the extended functionality.
Waltonchain rewards the honest nodes by using Proof Of Stake and Trust consensus. In terms of rewards, they pay the dividends to the high performing nodes. In simple words, you will be paid dividends by simply holding the token in your wallet.
[An Introduction to Waltonchain Team]
There is no doubt that the Waltonchain team is promising and comprises of the experts from different functionality and verticals. A team of Industry mix is definitely a plus.
To know more about the Waltonchain Team- Click here
[Waltonchain Coin MarketCap]
I have taken the data from the CoinMarketCap and, you can see from the graph that this coin is not a pump and dump coin. From an investment point of view, this cryptocurrency is good to go. The graph is highly stable which depicts a bright future.
[How to buy Waltonchain coin?]
The process is very simple. First, you need to buy cryptocurrency like Bitcoin, Ethereum from fiat money, mostly your local currency like dollars etc.Now, you can exchange your BTC or ETH for WTC. The best exchange according to me for buying BTC or ETH will be Binance. You can also consider Kucoin as a good substitute to Binance exchange.
It's very important to consider below points before buying WTC.
- Availability-This coin has a limited edition of 100 million.
- Use-The tokens are used as transaction coin in the Waltonchain ecosystem.
- Competition: I will suggest you do SWOT and COMPETITIVE analysis of the competitor offerings before investing in this coin.
- Commercial Partnership: A very important point to consider.Waltonchain announced a partnership with Korean exchange platform Coinnest in January 2018, and also has agreements with China Mobile IoT Alliance, Coinlink, Haier and a wide range of other businesses.
- Growth Potential: I will definitely recommend you to invest in this coin. It has a huge potential.
[Waltonchain Coin Wallets]
- Hardware Wallets- Ledger Nano S, Trezor
- Desktop Wallets-MyEtherWallet, Jaxx(Windows, Mac, Linux)
- Browser/Web Wallets-Jaxx(Chrome Extension)
- Mobile Wallets-Coinomi(Android), Jaxx(Android, iOS)
[WaltonChain Official Resources]
Click this link to DOWNLOAD GPU Mining Manual.
Click this link to know about Reward Program.
It's always good to keep yourself updated with the latest development in the cryptocurrency world.
You can read the latest Waltonchain News by click on the link.
You can download the Waltonchain Blockchain Explorer manual by clicking the link.
To know more about the blockchain explorer please click Waltonchain.
Let's discuss some of the queries that our readers have related to Waltonchain Coin (WTC).
[How much WTC will be required for staking or becoming a master node?]
When a node or accounts hold more than 5000 WTC, it becomes the master node. An extra reward will be granted to master node for accounting.
[What are the competitive advantage of RFID system schemes of this project?]
- The RFID system scheme in this project has already been successfully applied to the closed-loop system of such links as production, logistics, and warehousing, chain stores etc. in the garment and manufacturing industries for years.
- The executive team is well experienced in the related industries and capable of ensuring the good quality and effectiveness of specific project implementation.
- During the project application, the team established an enterprise standardization system which has become an industry standard.
- The project is easy to apply widely and very likely to replicate.
I hope you will enjoy reading the post of cryptocurrency.
Conclusion: I have tried my best to include all the necessary information regarding Waltonchain technology and the future prospect of it. It's definitely a good project and can add lots of value to the supply chain domain.RFID technology integrated with Waltonchain chips is definitely a boon to the logistics and supply chain verticals.