Waltonchain ($WTC) is a platform and supply-chain management system that combines blockchain with IoT technology (RFID) and was officially launched in 2017 though being in development since 2015. Waltonchain is named after Charlie Walton the inventor of RFID chips and technology.
Waltonchain is combining both hardware and software into their solution to create an efficient, low cost one-stop solution for IoT and supply chain management. Waltonchain has both parent and child chains to scale and also is unique in the fact is uses a hybrid proof-of-stake and proof-of-work consensus mechanism that incorporates mining and staking components.
Let’s dive deep into Waltonchain…
TITLE/TICKER : Waltonchain / $WTC
COMPANY ORIGIN : China, S. Korea, Taiwan and more…
PLATFORM : Waltonchain
CONSENSUS ALGORITHM : PoW , PoS and PoL
PURPOSE : Supply chain management and verification
POINT OF DIFFERENCE : RFID patent, IoT & Blockchain technology
MAJOR PARTNERS : See below
WEBSITE : Waltonchain website
POSITION/WHITEPAPER : Waltonchain Whitepaper
WORKING PRODUCT ? : Yes
CURRENT PRICE ACTION :
How does Waltonchain work?
Parent & Sub-chains
The Walton parent chain is responsible for managing the sub-chains, monitoring, tracking transactions and to execute smart contracts among other tasks. Sub-chains, however, can be created and used by any user on Waltonchain and creators able to create their own tokens.
The benefits of sub-chains are numerous as they – reduce latency and bloat, provide no connection with the protocol of the parent chain providing security and any bad actors or threats can be limited to a sub-chain which can be neutralised with little effort.
Proof-of-stake, Proof-of-work & PoL hybrid model
Waltonchain is very unique via its consensus mechanism as it incorporates PoW, PoS and PoL to provide a safe, secure blockchain and network – the team best describes the benefits of this hybrid model
Waltonchain has designed and patented RFID chips that will be inserted & embedded into physical products and can track products end-end within the supply chain thus providing transparency and confidence, this is a huge competitive advantage.
New IoT Model
Waltonchain is looking to reinvent the IoT model by providing a decentralised system and ledger that all aspects can effectively plug into with complete interoperability and efficiency.
What problems is Waltonchain looking to solve?
Waltonchain is looking to tackle the major issues with IoT solutions to date including;
Lack of compatibility
With the numerous options in which we can connect and interact today, users and adopters are looking for integrated, cost-effective solutions. However, this is hardly the case we see with current systems as they lack interoperability and this has become a major obstacle and challenge to date.
Attacks are becoming more frequent as we rapidly expand infrastructure and systems. Attackers pose a real threat to users information and have the ability to cripple networks – this includes governments, banks and integral parts of our society.
Low Architecture Flexibility
As current IoT systems operate in a centralised fashion – data transfers are at major risk and disruption could again cripple the network for all users.
High operational costs
Again as the networks grow with rapidly, so do costs with closed systems and poor interoperability.
Waltonchain’s potential use-cases
Waltonchain has numerous applications and real-world use cases including but not limited to;
Waltonchain vs Competitors
Waltonchain has a number of top caliber competitors in the blockchain, IoT space including the juggernaut Ve Chain who are also incorporating RFID chips and also NFC and QR codes. Other notable competitors not necessarily in the same niche or market, region but are worth recognising;
- Origin Trail
Waltonchain has a serious team behind the project with the founders from China, South Korea, and Taiwan respectively.
See the full team here
Waltonchain in addition to a very strong team is their partner profile.
Where can you purchase Waltonchain $WTC
How to protect & store your Waltonchain $WTC?
We recommend downloading an approved wallet from the Waltonchain website otherwise we always recommend using a Ledger Nano S.
Outlook for Waltonchain?
Supply-chain solutions are one area I pay extra close attention to being involved heavily in export of primary industry goods and finished products to Asia, Middle East, Americas and other regions. This is where I see the blockchain disrupting and having some serious impact from a very early age on.
Waltonchain tick all the boxes in terms of fundamentals and one that I would be watching very closely. Walton and Ve Chain are among the two top projects in the space and are competing head to head in many respects which is mouth-watering. Keep Waltonchain and their updates close…
Reach out if you have questions about Waltonhain $WTC or need help with any topic.
Disclaimer: None of our Analysts are holding Waltonchain $WTC at the time of writing this article. All content is research, opinions, and personal view-points from our Analysts. This is not financial advice and should not be treated as such. If you have any queries please contact [email protected]