Waltonchain: Putting commercial data on the Blockchain by nibupraju

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waltonchain · @nibupraju ·
$5.04
Waltonchain: Putting commercial data on the Blockchain
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<p><img src="https://cdn-images-1.medium.com/max/1000/0*Q0q13MYfmkyp3M0-.png" width="960" height="550"/></p>
<p>&nbsp;What if you combine blockchain with IOT using proprietary RFID technology&nbsp;. Thatโ€™s Waltonchain Project for you.</p>
<p>WALTON( <strong>Wisdom Alters Label Trade Organization and Network</strong>)Chain which was currently listed in worlds leading exchange <a href="https://goo.gl/forms/7FX3elGv9jgmCGsg1">Huobi&nbsp;</a>,is one of the project that has real world application&nbsp;. With a daily trading volume in <a href="https://goo.gl/forms/7FX3elGv9jgmCGsg1">Huobi</a>of around 32 Million USD with both ETH and BTC pair&nbsp;, it one of the most sought out projects in blockchain world due to the changes it can bring to the real world especially in supply-chain management.&nbsp;</p>
<p><br></p>
<h4><img src="https://cdn-images-1.medium.com/max/1000/0*-eMbqjDeDGxGxO2v.jpg" width="1000" height="666"/></h4>
<h1><strong>A short summary of the&nbsp;Project</strong></h1>
<p>Waltonchain has vast set of application from <em>supply chain management</em>, to <em>tracking of product</em>, and can be used for <em>real-time data collection</em>, all using the help of its proprietary RFID chips. Lets first understand RFID chips and how its been used in the current world.&nbsp;</p>
<p><img src="https://cdn-images-1.medium.com/max/1000/0*bUesXgHUO2a9Aqov.jpg" width="800" height="672"/></p>
<p>&nbsp;</p>
<blockquote><em>RFID stands for</em> <em><strong>Radio-Frequency IDentification</strong></em><em>. its a small electronic devices that consist of an antenna and a small chip which is capable of storing and transmitting data. The RFID device serves the same purpose like a bar code or a strip. However, in-order to obtain data the RFID tag does not have to be scanned directly, nor does it require line-of-sight to a reader, rather data is captured via radio waves.</em></blockquote>
<p>Harnessing the same concept<strong>&nbsp;,Waltonchain</strong> is planning to combine its native blockchain with own proprietary RFID chips that can be placed on various products and tracked end to end, allowing for greater accountability at virtually all points in the supply chain, drastically reducing costs from theft while creating more accurate records of inventories. Not only that once the product reaches shops, they can still continue to gather information about the product like which is fast moving and slow moving, which product is sold more as well as identifying about various customer behaviors and trends.</p>
<h1>The Walton Ecosystem&nbsp;</h1>
<p>As per the Whitepaper&nbsp;, WaltonChain whole system of the Value Internet of Things can be divided into two parts: hardware and software. The hardware includes the RFID tag chips and the RFID reader chips. The RFID tag acts as the interface for all assets to be connected to the chain, and the reader chip is a bridge for all assets to be connected to the chain and can be used as a node on the chain.The software includes the Waltonchain software system, the Waltonchain protocol and Waltoncoin. With the combination of software and hardware, the Value Internet of Things can really achieve the connection of all things to the chain and the digitization of all assets</p>
<h1>How does Waltonchain work?</h1>
<p>&nbsp;https://www.youtube.com/embed/uEsKZGOxNKw</p>
<p>&nbsp;Most of us have come across RFID-based blockchain projects such Vechain, Ambrosus, IOTA&nbsp;, Wabi, etc which is similar to Waltonchain&nbsp;. All of them utilities โ€œ<strong>Internet of Things (IOT)</strong>โ€&nbsp;, but all of them have a common drawback of current IoT models&nbsp;. i.e none of them are completely open systems. This means all the data has to be passed via a centralized system. The blockchain in these projects are implemented in the application layer, through centralized control, and as such, the system cannot be fully trustless&nbsp;.</p>
<p>In order to eliminate the above said drawbacks, WaltonChain harness the concept of the <strong>Value Internet of Things (VIoT)</strong> which combines their proprietary RFID chips with its own blockchain technology. Waltonchain proprietary RFID chips can write directly to the blockchain via their RFID readers, without being passed via a centralized system, which guaranty that the ID of the tag is intimately attached with the object its integrated with, and that the data is fully reliable with a decentralized, trustless system.</p>
<p>Unlike other projects, Waltonchain implement the blockchain through the RFIDs themselves, at the foundation layer unlike other projects where the blockchain is implemented the application layer. The said RFID chips generate their own signatures (Hashes) and upload the data to the blockchain&nbsp;. This technology is patented by Waltonchain, which will secure Waltonchain as the only blockchain that connects the physical world and the virtual world. As per the Waltonchain team this is which makes them the best solution for tackling the counterfeit goods industry and put them one step ahead of the other projects</p>
<p>Lets take an example of a real-world usage of Waltonchain</p>
<p><img src="https://cdn-images-1.medium.com/max/1000/1*ejG0iX8nBEx-7vDvSPGKAw.png" width="865" height="563"/></p>
<p>Lets take a practical view of real-world application of Waltonchian in the background of Apparel Industry. As you can see in the diagram the same scenario can be applicable to any other industry such a Logistics, Electronics, warehousing etc as most of the industry have similar way to work.The whole ecosystem is composed of several master and child nodes communicating to each other. As seen in the figure an RFID is created for every product in various life cycle and will be tagged to it.With the help of RFID, the status and related information of each stages will be recorded at each child node in various product life-cycle and will be passed on to the master node. The data associated with it is then stored to blockchain. This particular data can also be easily brought up to date during different stages like production, warehousing&nbsp;,transportation, stores etc.</p>
<p>Not only that&nbsp;, Waltonchain can be utilized to keep track of the products in the store as well, while at the same time keeping track of clientsโ€™ details and their distinctive preferences&nbsp;.By collecting these data the retailer can analyze what items are fast moving and which ones are non performing&nbsp;. Using this data that they can re plan their inventory to increase sales and reduce wastage which mean more sales and low cost for the company</p>
<h1>Waltoncoin (WTC)</h1>
<p>Waltioncoin which is currently traded in <a href="https://goo.gl/forms/7FX3elGv9jgmCGsg1">Huobi</a>, is the native currency of the Waltonchain ecosystem. Only 100 million WTC will be issued with currently total supply of 70 million and a circulating supply of 40 million coins. The balance remaining coins will be mined over the next few years.</p>
<p>Waltonchain uses their own <strong>PoS &amp; Trust (PoST)</strong> consensus for the ecosystem. PoST is similar to PoS which rewards the token holders with WTC dividends as per the job carried out&nbsp;. However, Waltonchain also have a node reputation mechanism to further reward better quality and more high performing nodes.</p>
<h1>Team</h1>
<p><img src="https://cdn-images-1.medium.com/max/1000/0*WBDidxO7SRNkCkY1.png" width="747" height="566"/></p>
<p>The Waltonchain is co-founded by Do Sanghyuk and Xu Fangcheng. The team Chief Scientist is Mr Kim Sukku who was once VP of Samsung with more than 60 patents to his name. Majority of team members are Industry veterans with vast experience in supply chain management and Manufacturing vertical</p>
<h1>Conclusion</h1>
<p>As an investor I always look for Projects that has real world application or in simple term which can be mass adapted&nbsp;. Waltonchain from my perspective is a great project which has potential to disrupt the supply chain world. With the backing of its solid experience team, the company has already started delivering and has bagged several partnerships with both government and private-sector companies alike.</p>
<p><img src="https://cdn-images-1.medium.com/max/1000/0*ZzqeLT2cXSBI_OYS.png" width="1000" height="400"/></p>
<p>In terms pricing of WTC dipped from around $22 to $7 due to bear run. But as well all are aware that the are seeing a gradual recovery of Markets and the real world projects will be the first ones to take on in the bull run.If you wish to own some <a href="https://www.huobi.br.com/en-us/topic/invited/?invite_code=da523">WTC</a>&nbsp;, its currently traded on <a href="https://www.huobi.br.com/en-us/topic/invited/?invite_code=da523">Huobi</a>. If you want to have a trading account&nbsp;, you can sign up <a href="https://www.huobi.br.com/en-us/topic/invited/?invite_code=da523">here</a> to be a part of this wonderful project</p>
<p><em>Remember that speculating on anything is a risk, I am not telling you what to do with your money or giving financial advice.</em></p>
<p><a href="https://medium.com/@Waltonchain_EN">Waltonchain_EN</a> #Huobi #Blockchain #Supplychain&nbsp;</p>
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vote details (632)
@coin.info · 
**Coins mentioned in post:**

Coin | | Price (USD) | ๐Ÿ“ˆ 24h | ๐Ÿ“ˆ 7d
- | - | - | - | -
**AMB** | Ambrosus | 0.284$ | _0.18%_ | _-0.31%_
**BTC** | Bitcoin | 7656.710$ | _3.38%_ | _18.99%_
**ETH** | Ethereum | 467.188$ | _0.8%_ | _2.35%_
**MIOTA** | IOTA | 1.003$ | _0.87%_ | _-1.13%_
**WTC** | Waltonchain | 6.454$ | _-1.67%_ | _-3.69%_
๐Ÿ‘  
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@imamularifin · 
Nice post i like it thanks for sharing

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