What is Waltonchain (WTC)?

Aug 02, 2018 at 19:04

Coin overview

Waltonchain combines blockchain technology with the Internet of Things (IoT), specifically RFID, to create a traceable business model for supply chains. They call this the Value Internet of Things (VIoT), where information is decentralized, tamper-proof, permanent, open and traceable.

Waltoncoin (ticker symbol: WTC) is Waltonchain’s official token. It is an ERC20 token used as a currency within the Waltonchain ecosystem, allowing holders to purchase commodities. It is also used as a credit measurement unit and a workload/quality measurement unit on the IoT. Initially released in August 2017 at a price of $1.06, at the time of writing it is valued at $6.13—a 478% increase in its original value. Its value reached an all-time high of $20.20.

The structure of Waltonchain works this way: Waltonchain is the name of the parent chain; that is, it is the chain responsible for handling and tracking WTC transactions, sub-chains, as well as for executing the smart contracts involved in Waltonchain ecosystem-based transactions.

Each user of the platform can create their own sub chain, or as Waltonchain developers it, the child chain. Each user can customize conditions and regulations of their chain according to their needs as long as they are token holders.

Apart from an added layer of security, separating the activities on the Waltonchain ecosystem to sub chains helps take the load off of the parent chain, because the data involved in these activities are stored in the sub-chains instead. This means the parent chain maintains its network power.

Waltonchain and the WTC token are currently being used in the garment industry as their first use case scenario. They are looking to move forward to tracking the supply chain of other industries in the near future using their own RFID system. Waltonchain will also be moving the WTC from an Ethereum base to its own chain.

 

Where to buy?

The largest volume of WTC is traded on Binance, but other cryptocurrency exchanges carry WTC as well, such as OKEx, BitForex, and Huobi.

Is it mineable?

WTC has a maximum supply of 100,000,000, of which 70,000,000 is available as the current total supply. It has a current circulating supply of 40,144,099 tokens. The remaining 30,000,000 tokens can be mined through GPU mining and their Reward Pool Program.