{"id":4989,"date":"2018-11-25T13:25:36","date_gmt":"2018-11-25T21:25:36","guid":{"rendered":"https:\/\/coincentral.com\/?p=4989"},"modified":"2021-09-29T18:15:27","modified_gmt":"2021-09-29T22:15:27","slug":"waltonchain-beginner-guide","status":"publish","type":"post","link":"https:\/\/coincentral.com\/waltonchain-beginner-guide\/","title":{"rendered":"What Is Waltonchain (WTC)? | A Guide to the IoT and Supply Chain Blockchain"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Waltonchain combines <a href=\"https:\/\/www.waltonchain.org\/\" target=\"_blank\" rel=\"nofollow noopener\">blockchain with IoT<\/a> (specifically RFID) to create a management system for supply chains. The project is named after <strong>Charlie Walton<\/strong>, the inventor of RFID technology and a pioneer in the space.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Logistics systems are complex and commonly involve several different parties. As these systems grow, it becomes increasingly tough for businesses in the same vertical to coordinate with each other. On top of that, individual entities may have different processes that further hinder the ability to transfer data back and forth.<\/span><\/p>\n<p><script type=\"text\/javascript\" src=\"https:\/\/files.coinmarketcap.com\/static\/widget\/currency.js\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">Waltonchain uses RFID identification to track products during each step of production and distribution. The data associated with each item is stored on an immutable blockchain that ensures its accuracy no matter where in the process it is.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In this Waltonchain guide, we\u2019ll be discussing:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><a href=\"#how-does-waltonchain-work\"><span style=\"font-weight: 400;\">How Does Waltonchain Work?<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"#waltoncoin-consensus-mechanisms\"><span style=\"font-weight: 400;\">Waltoncoin (WTC) and Consensus Mechanisms<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"#waltonchain-team-progress\"><span style=\"font-weight: 400;\">Waltonchain Team &amp; Progress<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"#trading\"><span style=\"font-weight: 400;\">Trading<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"#where-to-buy-wtc\"><span style=\"font-weight: 400;\">Where to Buy WTC<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"#where-to-store-wtc\"><span style=\"font-weight: 400;\">Where to Store WTC<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"#conclusion\"><span style=\"font-weight: 400;\">Conclusion<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"#additional-waltonchain-resources\"><span style=\"font-weight: 400;\">Additional Waltonchain Resources<\/span><\/a><\/li>\n<\/ul>\n<h2 id=\"how-does-waltonchain-work\"><span style=\"font-weight: 400;\">How Does Waltonchain Work?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Other than serving as a tribute to the inventor of RFID technology, WALTON is an acronym for <strong>Wisdom Alters Label, Trade, Organization, and Network<\/strong>. This seems a little forced, and it\u2019s not entirely clear what it actually means, but it fits well with the name.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Value Internet of Things (VIoT)<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Waltonchain introduces the concept of the <strong>Value Internet of Things<\/strong> to describe the combination of their proprietary RFID chips with blockchain technology. Using RFID tags, blockchains can now store physical items (or at least data representations of them) on-chain.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">RFID (Radio-frequency identification) tags use electromagnetic fields to identify objects. They\u2019re most commonly utilized in inventory tracking, library systems, and product kiosks like Redbox.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With Waltonchain, a simple scan of the RFID tag provides you with all the information you need to know. What the product is, where it\u2019s been, who\u2019s handled it, and other important data is all stored on the blockchain through these tags.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Applying VIoT to logistics has a myriad of benefits:<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Improved security through blockchain technology<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Accurate tracking of a product back to its origin<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Anti-counterfeiting through RFID identification<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Decentralization without the need for trust<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Reduced labor costs<\/span><\/li>\n<\/ol>\n<h3><span style=\"font-weight: 400;\">Waltonchain and sub chains<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Waltonchain is the name for the <strong>parent chain<\/strong> in the <a href=\"https:\/\/www.waltonchain.org\/templets\/default\/doc\/Waltonchain%20White%20Paper%202.0_EN.pdf\" target=\"_blank\" rel=\"nofollow noopener\">Walton ecosystem<\/a>. This chain tracks Waltoncoin (WTC) transactions, manages sub-chains, and executes smart contracts, among other things.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Anyone using Waltonchain technology can create their own <strong>sub-chain<\/strong> and have their own tokens. Additionally, they can elect to have a consensus algorithm that\u2019s different from the parent chain.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Separating the network into the parent Waltonchain and sub-chains has a few benefits. The first is that each business utilizing the technology can customize a blockchain to their specific business needs. They&#8217;re not tied to the protocol or network activity of the parent chain. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Also important, the separation helps with performance as the network scales.\u00a0<\/span><span style=\"font-weight: 400;\">Because the majority of the data resides on a business\u2019s sub chain, their activity won\u2019t bog down the entire network.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">CryptoKitties, an <a href=\"https:\/\/coincentral.com\/what-is-ethereum\/\" target=\"_blank\" rel=\"noopener\">Ethereum-based<\/a> game similar to Neopets, is a testament to the importance of sub chains. Currently, Ethereum doesn\u2019t use sub chains, so each DApp built on the platform affects the network. The exploding popularity of CryptoKitties caused <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2017-12-04\/cryptokitties-quickly-becomes-most-widely-used-ethereum-app\" target=\"_blank\" rel=\"nofollow noopener\">major network congestion<\/a> which led to temporarily delayed transactions and higher fees.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If the game was on a sub chain, this wouldn\u2019t have been as big of an issue.<\/span><\/p>\n<p>[thrive_leads id=&#8217;5219&#8242;]<\/p>\n<h2 id=\"waltoncoin-consensus-mechanisms\"><span style=\"font-weight: 400;\">Waltoncoin (WTC) and Consensus Mechanisms<\/span><\/h2>\n<h3><span style=\"font-weight: 400;\">Waltoncoin (WTC)<\/span><\/h3>\n<p><span style=\"font-weight: 400;\"><strong>Waltoncoins (WTCs)<\/strong> are the primary currency in the Walton ecosystem. 100 million WTC were issued with the genesis block and no more will be created. Of those 100 million, there&#8217;s currently a total supply of 70 million with a little over 40 million in circulation, and the remaining coins will be mined over the next few years.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The coins have six primary functions:<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Issuing sub chains<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Dividend interest<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Credit and mortgage system<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Distributed asset exchange<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Distributed voting and governance system<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Decentralized exchange<\/span><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">Although this seems like a lot, there\u2019s some overlap in these functions. More simply, WTC is used as a transactional coin to perform activities off of the parent chain through <strong>byte fee\u00a0<\/strong>payments, facilitate collaboration between sub chains, and reward nodes for maintaining the network.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Consensus Mechanisms<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Originally, Waltonchain planned to use its own Proof of Stake &amp; Trust (PoST) consensus for the ecosystem. PoST is similar to Proof of Stake (PoS) in that it rewards token holders (nodes) with WTC dividends. However, it would additionally add a node reputation mechanism to further reward higher quality and more honest nodes.<\/span><\/p>\n<p>Now, Waltonchain&#8217;s whitepaper (v2.0) outlines a <strong>Waltonchain Proof-of-Contribution (WPoC)<\/strong> consensus. This new consensus mechanism combines Proof-of-Work (PoW), Proof-of-Stake (PoS), and Proof-of-Labor (PoL). The parent chain uses a combination of PoW and PoS.\u00a0<span style=\"font-weight: 400;\">This means that as a WTC token holder, you\u2019ll receive dividends just by holding the tokens in your wallet.<\/span><\/p>\n<p>The network utilizes PoL for data exchanges between nodes on the parent chain, child chains, and cross-child chains.\u00a0<\/p>\n<figure id=\"attachment_15457\" aria-describedby=\"caption-attachment-15457\" style=\"width: 473px\" class=\"wp-caption aligncenter\"><img fetchpriority=\"high\" decoding=\"async\" class=\"size-full wp-image-15457\" src=\"https:\/\/coincentral.com\/wp-content\/uploads\/2018\/01\/Screenshot-2018-11-25-16.00.06.png\" alt=\"Waltonchain Proof-of-Labor\" width=\"473\" height=\"303\" srcset=\"https:\/\/coincentral.com\/wp-content\/uploads\/2018\/01\/Screenshot-2018-11-25-16.00.06.png 473w, https:\/\/coincentral.com\/wp-content\/uploads\/2018\/01\/Screenshot-2018-11-25-16.00.06-300x192.png 300w\" sizes=\"(max-width: 473px) 100vw, 473px\" \/><figcaption id=\"caption-attachment-15457\" class=\"wp-caption-text\">Waltonchain Proof-of-Labor<\/figcaption><\/figure>\n<h2 id=\"waltonchain-team-progress\"><span style=\"font-weight: 400;\">Waltonchain Team &amp; Progress<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The Waltonchain <a href=\"https:\/\/www.waltonchain.org\/en\/team\/\" target=\"_blank\" rel=\"nofollow noopener\">team<\/a> is loaded with supply chain experience. Do Sanghyuk, one of the co-founders, was previously the Director of the Korean Standard Products Association. The other co-founder, Xu Fangcheng was the Supply Chain Management Director of Septwolves Group Ltd.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The team is getting support from their Chief Scientist Advisor, Kim Sukku &#8211; a former vice president of Samsung.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Waltonchain has no shortage of partnerships &#8211; several of which are with Chinese provincial governments. The team is working with the Fujian government to create a <a href=\"https:\/\/tech.china.com\/article\/20170827\/2017082753050.html\" target=\"_blank\" rel=\"nofollow noopener\">\u201csmart maritime\u201d<\/a> blockchain incubator, and with the <a href=\"https:\/\/www.waltonchain.org\/news-detail?id=000000005f18edbf015f198371340006\" target=\"_blank\" rel=\"nofollow noopener\">Jinhu government<\/a> to build smart air purification and monitoring systems.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As you can see, Waltonchain is quickly expanding beyond just the supply chain.<\/span><\/p>\n<figure id=\"attachment_4999\" aria-describedby=\"caption-attachment-4999\" style=\"width: 1262px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-4999 size-full\" src=\"https:\/\/coincentral.com\/wp-content\/uploads\/2018\/01\/Screenshot-2018-01-11-15.43.18.png\" alt=\"Waltonchain partners\" width=\"1262\" height=\"451\" srcset=\"https:\/\/coincentral.com\/wp-content\/uploads\/2018\/01\/Screenshot-2018-01-11-15.43.18.png 1262w, https:\/\/coincentral.com\/wp-content\/uploads\/2018\/01\/Screenshot-2018-01-11-15.43.18-591x211.png 591w, https:\/\/coincentral.com\/wp-content\/uploads\/2018\/01\/Screenshot-2018-01-11-15.43.18-621x222.png 621w, https:\/\/coincentral.com\/wp-content\/uploads\/2018\/01\/Screenshot-2018-01-11-15.43.18-600x214.png 600w, https:\/\/coincentral.com\/wp-content\/uploads\/2018\/01\/Screenshot-2018-01-11-15.43.18-300x107.png 300w, https:\/\/coincentral.com\/wp-content\/uploads\/2018\/01\/Screenshot-2018-01-11-15.43.18-768x274.png 768w, https:\/\/coincentral.com\/wp-content\/uploads\/2018\/01\/Screenshot-2018-01-11-15.43.18-874x312.png 874w\" sizes=\"(max-width: 1262px) 100vw, 1262px\" \/><figcaption id=\"caption-attachment-4999\" class=\"wp-caption-text\">Short List of Waltonchain Partners<\/figcaption><\/figure>\n<p>In March 2018, Waltonchain launched their main net and switched off of the <a href=\"https:\/\/coincentral.com\/what-is-ethereum-the-ultimate-beginners-guide\/\" target=\"_blank\" rel=\"noopener\">Ethereum<\/a> blockchain. They have since released several wallets to support this change. Additionally, the team has facilitated the development of three <a href=\"https:\/\/medium.com\/@Waltonchain_EN\/official-listing-of-waltonchains-3rd-child-chain-moneynet-on-coinzest-685de2662341\" target=\"_blank\" rel=\"noopener\">child chains<\/a>\u00a0since the launch of the main net.\u00a0<\/p>\n<h3><span style=\"font-weight: 400;\">Competitors<\/span><\/h3>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/coincentral.com\/vechain-thor-beginner-guide\/\" target=\"_blank\" rel=\"noopener\"><strong>VeChain<\/strong><\/a> is the blockchain project most similar to Waltonchain (they even both have \u201cchain\u201d in their name). Similar to Waltonchain, VeChain provides blockchain-based solutions for the supply chain industry. VeChain recently rebranded to VeChain Thor, now enabling enterprises to build DApps on their platform &#8211; something akin to Walton\u2019s sub chains.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There are a few differences between the two, though. Waltonchain is strictly focusing on <strong>RFID chips<\/strong> while VeChain includes <strong>NFC<\/strong> and <strong>QR codes<\/strong> as well. Although serving many of the same purposes, the architecture of sub chains is drastically different than that of DApps.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Finally, it appears that the two projects are targeting different markets with VeChain focusing on luxury goods and Waltonchain starting with clothing apparel. <\/span><\/p>\n<h2 id=\"trading\"><span style=\"font-weight: 400;\">Trading<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The WTC price has been a rollercoaster of up-and-downs since it started trading at the end of August 2017. Chinese news of increased government intervention and regulation consistently affected the coin.<\/span><\/p>\n<p><script type=\"text\/javascript\">\nbaseUrl = \"https:\/\/widgets.cryptocompare.com\/\";\nvar scripts = document.getElementsByTagName(\"script\");\nvar embedder = scripts[ scripts.length - 1 ];\n(function (){\nvar appName = encodeURIComponent(window.location.hostname);\nif(appName==\"\"){appName=\"local\";}\nvar s = document.createElement(\"script\");\ns.type = \"text\/javascript\";\ns.async = true;\nvar theUrl = baseUrl+'serve\/v3\/coin\/chart?fsym=WTC&tsyms=USD,EUR,CNY,GBP';\ns.src = theUrl + ( theUrl.indexOf(\"?\") >= 0 ? \"&\" : \"?\") + \"app=\" + appName;\nembedder.parentNode.appendChild(s);\n})();\n<\/script><\/p>\n<p><span style=\"font-weight: 400;\">On the flip side, new exchange listings and partnership announcements have reflected positive price movements in response. It wouldn\u2019t be surprising to see this trend continue if the coin becomes listed on <a href=\"https:\/\/coincentral.com\/bittrex-review\/\" target=\"_blank\" rel=\"noopener\">Bittrex<\/a> or if the team announces more strategic alliances.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">WTC hit an all-time high of $42.46 (~0.00371 BTC) in January 2018 but now sits at around $1.20 (~0.00029 BTC) &#8211; another victim of the year-long bear market. Without massive enterprise adoption, it&#8217;s tough to see the price of this coin increasing in the current, poor market conditions.<\/span><\/p>\n<h2 id=\"where-to-buy-wtc\"><span style=\"font-weight: 400;\">Where to Buy WTC<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The most popular platform to purchase WTC is <a href=\"https:\/\/coincentral.com\/binance-review\/\" target=\"_blank\" rel=\"noopener\">Binance<\/a>. Here, you can exchange BTC and ETH for WTC with BTC being the preferred choice of investors.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you don\u2019t own any Bitcoin or <a href=\"https:\/\/coincentral.com\/how-to-buy-ethereum\/\" target=\"_blank\" rel=\"noopener\">Ethereum<\/a>, you can purchase some on <a href=\"https:\/\/coincentral.com\/gemini-review\/\" target=\"_blank\" rel=\"noopener\">Gemini<\/a> with U.S. dollars. After that, simply transfer your funds to Binance to exchange for WTC.<\/span><\/p>\n<h2 id=\"where-to-store-wtc\"><span style=\"font-weight: 400;\">Where to Store WTC<\/span><\/h2>\n<p>You should store your WTC in one of the official Waltonchain wallets. <a href=\"https:\/\/www.waltonchain.org\/en\/wallet\/\" target=\"_blank\" rel=\"noopener\">The wallets<\/a> are available on Windows operating systems as well as Android and iOS mobile phones.<\/p>\n<h2 id=\"conclusion\"><span style=\"font-weight: 400;\">Conclusion<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Waltonchain is a solid project with an experienced, 20+ member team dedicated to its success. The company already has several substantial partnerships with government entities and private-sector companies alike.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">More than just a supply chain platform, Waltonchain provides enterprise businesses with the technology to create their own sub chain and benefit from the Walton parent chain.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Although currently not valued as high as some of its competitors, Waltonchain, with its partnerships and ambitious development roadmap, looks poised to breakout over the next few years.<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">Editor\u2019s Note: This article was updated by <a href=\"https:\/\/coincentral.com\/author\/stevenbuchko\" target=\"_blank\" rel=\"noopener\">Steven Buchko<\/a> on 11.25.2018 to reflect the recent changes of the project.<\/span><\/i><\/p>\n<h2 id=\"additional-waltonchain-resources\"><span style=\"font-weight: 400;\">Additional Waltonchain Resources<\/span><\/h2>\n<p><a href=\"https:\/\/www.waltonchain.org\/en\/\" target=\"_blank\" rel=\"noopener\">Website<\/a><\/p>\n<p><a href=\"https:\/\/www.reddit.com\/r\/waltonchain\/\" target=\"_blank\" rel=\"nofollow noopener\">Reddit<\/a><\/p>\n<p><a href=\"https:\/\/t.me\/waltonchain_en\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a><\/p>\n<p><a href=\"https:\/\/twitter.com\/Waltonchain\" target=\"_blank\" rel=\"nofollow noopener\">Twitter<\/a><\/p>\n<p><a href=\"https:\/\/github.com\/WaltonChain\" target=\"_blank\" rel=\"noopener\">Github<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is Waltonchain (WTC)? Check out this guide to see how Waltonchain combined RFID tech with blockchain to create a superior supply chain solution.<\/p>\n","protected":false},"author":18,"featured_media":5006,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"iawp_total_views":36,"footnotes":""},"categories":[5712],"tags":[5850,5855,21376],"class_list":{"0":"post-4989","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-guides","8":"tag-use-cases","9":"tag-waltonchain","10":"tag-wtc"},"wppr_data":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What Is Waltonchain (WTC)? | A Guide to the IoT Supply Chain Blockchain<\/title>\n<meta name=\"description\" content=\"What is Waltonchain (WTC)? 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