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Waltonchain

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Description

What does Waltonchain do?

Waltonchain is a management system that targets all companies and organizations that use supply chains for their operations. By combining RFID chips with blockchain technology, the project provides a decentralized option for tracking physical objects during production and distribution. Waltonchain is named after the inventor of RFID chip: Charles Walton.

Waltonchain’s RFID chips are used to provide physical objects with identities on its blockchain. When an object’s chip is scanned, all of its information becomes available. This information is stored on the blockchain and can include things like specifications, production details, and its movement on the supply chain.

The project also offers its users the ability to create their own unique subchains that are connected to each other through the main Waltonchain. Subchains can run dApps, launch ICOs, and be completely customized according to their use cases. Subchains can have their own tokens and even unique consensus mechanisms. Waltonchain’s main blockchain acts as a “parent chain” by managing interaction between subchains, facilitating transactions and running smart contracts.

What is WTC used for?

Waltoncoins (WTC for short) are the primary currency of Waltonchain. The total supply of WTC is 100 million. WTC are used to create subchains and to pay for services on subchains. Waltoncoins are also used to vote on the management and development of the project. 

The platform also supports a decentralized exchange which uses WTC as its intermediary currency between other Waltonchain-based tokens; with each subchain allowed to use its own token, users can exchange one token for another through WTC.

Waltonchain uses a unique consensus mechanism called PoST, short for Proof of Stake and Trust. It functions like a Proof of Stake mechanism found in other blockchain projects (in which nodes stake currency to help verify transactions) but Waltonchain adds a reputation system that gives higher dividends to nodes with higher reputation. Reputation is built from past successful staking.

How can WTC value appreciate?

Since WTC will be needed to use virtually all features on Waltonchain - from transactions between sub and main chains to the creation of new subchains - increased usage will cause Waltoncoins to appreciate. Firms interested in using the technology provided by Waltconchain will have to buy WTC.

WTC could also appreciate because it is designed to be scarce in the future. This is due to its limited supply and the fact that locking it up (for participation in the PoST consensus mechanism) generates dividends.

What is the difference between Waltonchain and its competitors?

The main competitors of Waltonchain are other blockchain projects offering object identification services, which includes VeChain, Ambrosus, and Wabi. 

Unlike its competitors that collect data through a centralized API (or component), Waltonchain's RFID chips are designed to write data directly to its blockchain. By doing so, the project removes the need for intermediaries. The technology is patented, which provides Waltonchain an important advantage over its direct competitors.

Another advantage of Waltonchain over its competitors is its use of subchains that can use their own tokens and be customized to fit the needs of their users. This makes Waltonchain faster and more capable of providing asset management for different fields.

  • Mainnet Launch: March 31st 2018
  • Open Source: No
  • Consensus Type: N/A
  • Technology: Blockchain
  • Total Coin Supply: 70,000,000
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Description

What does Waltonchain do?

Waltonchain is a management system that targets all companies and organizations that use supply chains for their operations. By combining RFID chips with blockchain technology, the project provides a decentralized option for tracking physical objects during production and distribution. Waltonchain is named after the inventor of RFID chip: Charles Walton.

Waltonchain’s RFID chips are used to provide physical objects with identities on its blockchain. When an object’s chip is scanned, all of its information becomes available. This information is stored on the blockchain and can include things like specifications, production details, and its movement on the supply chain.

The project also offers its users the ability to create their own unique subchains that are connected to each other through the main Waltonchain. Subchains can run dApps, launch ICOs, and be completely customized according to their use cases. Subchains can have their own tokens and even unique consensus mechanisms. Waltonchain’s main blockchain acts as a “parent chain” by managing interaction between subchains, facilitating transactions and running smart contracts.

What is WTC used for?

Waltoncoins (WTC for short) are the primary currency of Waltonchain. The total supply of WTC is 100 million. WTC are used to create subchains and to pay for services on subchains. Waltoncoins are also used to vote on the management and development of the project. 

The platform also supports a decentralized exchange which uses WTC as its intermediary currency between other Waltonchain-based tokens; with each subchain allowed to use its own token, users can exchange one token for another through WTC.

Waltonchain uses a unique consensus mechanism called PoST, short for Proof of Stake and Trust. It functions like a Proof of Stake mechanism found in other blockchain projects (in which nodes stake currency to help verify transactions) but Waltonchain adds a reputation system that gives higher dividends to nodes with higher reputation. Reputation is built from past successful staking.

How can WTC value appreciate?

Since WTC will be needed to use virtually all features on Waltonchain - from transactions between sub and main chains to the creation of new subchains - increased usage will cause Waltoncoins to appreciate. Firms interested in using the technology provided by Waltconchain will have to buy WTC.

WTC could also appreciate because it is designed to be scarce in the future. This is due to its limited supply and the fact that locking it up (for participation in the PoST consensus mechanism) generates dividends.

What is the difference between Waltonchain and its competitors?

The main competitors of Waltonchain are other blockchain projects offering object identification services, which includes VeChain, Ambrosus, and Wabi. 

Unlike its competitors that collect data through a centralized API (or component), Waltonchain's RFID chips are designed to write data directly to its blockchain. By doing so, the project removes the need for intermediaries. The technology is patented, which provides Waltonchain an important advantage over its direct competitors.

Another advantage of Waltonchain over its competitors is its use of subchains that can use their own tokens and be customized to fit the needs of their users. This makes Waltonchain faster and more capable of providing asset management for different fields.

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