Waltonchain (WTC) – Is It the Future of Global Supply Chains?
What is Waltonchain?
Waltonchain is a decentralized supply-chain management system that combines blockchain with IoT. It uses RFID-chip identification to track products during each step from production to delivery. This data is then written on the blockchain to be immutable and transparent.
The network is divided into a parent chain and several sub-chains.
The parent chain tracks WTC (native asset) transactions, oversees sub-chains and executes smart contracts. A sub chain can be created by anyone and have their own specific tokens and voting mechanisms.
Waltonchain uses their own consensus mechanism called Proof of Stake and Trust (POST), which is similar to traditional Proof-of-Stake but has a node reputation system added.
WALTON stands for Wisdom Alters Label, Trade, Organization, and Network and is additionally an homage to Charlie Walton, inventor of the RFID-technology. Prior to the mainnet launch on 31. March 2018, WTC was issued as an ERC20-interim token.
25 million USD was raised during the ICO in late 2017.
Can Waltonchain be mined?
No, the consensus mechanism is Proof-of-Stake. Therefore you cannot mine, but you can stake your tokens to help secure the network and get additional tokens as compensation.
What differs Waltonchain from other Cryptocurrencies?
The combination of blockchain and hardware in the form of RFID-chips is a clever idea and differs Waltonchain from its competitors in the supply-chain management market.
How much is Waltonchain worth today?
What is the total and the circulating supply?
The maximum supply of WTC is 70,000,000 and the circulating supply at the time of writing is 31,144,099 WTC.
Where can you buy WTC?
You can buy WTC on several cryptocurrency exchanges, most notably Binance and OKEx.
Can WTC be sold for cash?
You can sell WTC for cash on several cryptocurrency exchanges that have fiat-pairings, for example, Coinnest.
Waltonchain works on forming partnerships, raising brand awareness and improving the UI.
The launch of a WTC Android wallet is also scheduled for 2018. The mass production of blockchain RFID tags is planned for 2019. Overall development is very active and ongoing.
Verdict and Rating
6/10 Very interesting supply-chain management project. The combination of hardware and software is a unique selling point, and the development is very active. What worries me a little is the fairly high market cap, and it is unclear if such a solution is really needed. Nonetheless, one to watch.
DisclaimerThe writer’s views are expressed as a personal opinion and are for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.
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