What is Waltonchain (WTC)?
Waltonchain is a project that aims to "serve the real economy via the blockchain technology". It skillfully combines the immutability and transparency of the blockchain with RFID technology to create efficient and modern solutions for the supply chain industry.
Waltonchain is trying to combine blockchain and radio frequency identification (RFID) technology to create fast, traceable and transparent supply chain management. The project is named after the inventor of RFID technology Charlie Walton.
Waltonchain offers a more seamless system that can track products at every stage of the production and transportation process. Information about each product is entered into an immutable block chain so that all parties involved can track it, regardless of what stage it is at.
Who created Waltonchain (WTC)?
The project is backed by a team with extensive experience in working with the supply chain. Co-founder Do Sanhyuk is a former director of the Korean Standard Products Association. Xu Fangcheng, who was the director of supply chain management at Septwolves, is the other co-founder.
What is the uniqueness of Waltonchain (WTC)?
Using RFID, Waltonchain wants to create representations of physical devices in the blockchain. This is done using RFID tags, which can help, for example, in tracking stocks using electromagnetic fields.
Waltonchain wants to create a platform where users only need to scan an RFID tag that instantly reveals all the information: what is this product, what is its origin, who worked with it, what changes were made in the process and almost all the important details. It also eliminates the very need for any kind of trust.
The use of VIoT in logistics management provides a number of advantages, including the following:
- Increased security;
- Accurate and transparent tracking of goods from the source point to the final destination;
- Detection of fakes;
- Decentralization in which there is no dominance over other parties;
- Cost reduction in all areas;
- Pick up on the Waltonchain network.
How many Waltonchain (WTC) tokens are in circulation?
With the maximum offer - 83,171,967 WTC, there are currently - 77,450,935 tokens in circulation.
At the moment, the cost of WTC is - 0.573546 USD, the daily trading volume is 5,398,185 USD, and the market capitalization is 44,421,674 USD.
How is the Waltonchain network protected?
The Waltonchain team initially intended to create its own consensus mechanism, known as Proof of Stake and Trust (PoST) for its network. The PoST will serve as proof of interest in the fact that "selected" participants will check and confirm transactions. But it will also integrate a reputation mechanism that will reward the most honest nodes.
However, Waltonchain has made a different choice. Now they intend to implement the Waltonchain Proof of Contribution (WPoC) consensus. WPoC combines Proof of Work (PoW), Proof of Labor (PoL) and Proof of Stake (PoS), which represent an excellent protection for the WTC blockchain.
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