Waltonchain — The Public Blockchain to Unlock Real Value Through Blockchain and Internet of Things Through RFID R Follow Jul 19, 2018 · 3 min read

Waltonchain seeks to unlock the value of internet of things (IoT) by getting past the centralization issues that currently bother the IoT scene. The current structure without Blockchain rely on centralized parties to conduct transactions, which requires everyone to have trust in the same domain for devices to effectively collaborate. According to coinmarketcap, the majority of the volume and liquidity for trading WTC/BTC is on Huobi Pro. Surprisingly, Huobi Pro has only listed WTC a week ago on 12 Jul 2018, offering both WTC/BTC and WTC/ETH trading pairs, of which both are top 3 in trading for all WTC trading.

Waltonchain Uses Radio Frequency Identification (RFID) Technology to Suit Blockchain Technology

Waltonchain does not intend to use typical RFID for their project as the characteristics of the current RFID does not fit Blockchain. Instead, Waltonchain is using RFID that will have the following functions: each tag does not need to store node data and only be responsible for signature verification. In addition, tags may generate random public and private keys to ensure the security of the Internet of Things applications. The tags will be decrypting fast with asymmetric encryption technology. With these functions, the RFID tags will be able to achieve decentralization of property and asset management in a secure manner.

Waltonchain, RFIDs, Internet of Things

Child Chains Structure Allows Multiple Use Cases for Internet of Things on Waltonchain

The Waltonchain parent chain will be the public main chain of Walton Blockchain. The functions includes WTC transaction management, child chain creation and management, smart contracts etc. Any user of the main chain of Waltonchain is able to create and customize detailed functions of the child chain. Child chains will exist as a separate Blockchain, dedicated to the record-keeping of the transactions of the child chain tokens. Parent chain and child chains run parallel to each other, allowing child chains numbers to be scalable.

Waltonchain child chains

A natural use case for Waltonchain is the physical asset tokenization of highly valuable items, such as diamonds. If a diamond consortium would like to tokenize diamonds to ensure trustworthy delivery through the supply chain, from mine to jewellery shop, they may create a child chain on the Waltonchain main chain and have all parties involved in the production and delivery of the diamond on the child chain. That means the miners, safety deposit boxes, diamond craftsmen, delivery services and jeweller may all be in on the same child chain. This ensure clear tracking throughout the supply chain.

Waltonchain — One of the Biggest Asset Tokenization, Internet of Things Public Chains

According to coinmarketcap, Waltonchain is the largest public chain in comparison to all other competitors in the same space. The use of child chains is certainly unique among all the current offerings of other asset tokenization cum Internet of Things. As the use case is rather limited, I would have WTC tokens in my portfolio, but not more than 10%. In the event that you are convinced of Waltonchains potential, get great liquidity and better trading prices at Huobi Pro.