WaltonChain is a business ecosystem that leverages the power of the blockchain technology and the RFID (Radio Frequency Identification Technology) as well as reader-writer control chip. The ecosystem is particularly useful in the supply and distribution industry. Products are given special tags that can be traced throughout the entire distribution chain. The RFID technology ensures maximum security, provides a dedicated storage space, utilizes less power as compared to other technologies andShow more [+] ensures a low probability of record skipping. Distributors can easily track particular commodities by using special electronic codes.
The ecosystem brings together the real world (physical assets) and a blockchain converting the internet into the Value Internet of Things (IoT). Using the blockchain technology enables the sharing of important data and transparency. The RFID technology adds on to this making counterfeiting and data manipulation very difficult. The ecosystem utilizes Waltoncoin (WTC) as the fuel for enabling transactions. WTC can be used as a currency for transaction within the ecosystem, as a unit of quality measurement, as a store of value and as a transfer of value within the ecosystem.
The ecosystem relies on masternodes with a node or an account becoming a master node if it holds more than 5000 WTC. The more WTC an account holds, and the longer the time it holds, the greater the reward is. It also utilizes a consensus mechanism called Proof-of-Stake & Trust as well as smart contracts. This ecosystem also allows users to create child chains where they can create their own tokens creating additional demand for WTC.
N/B WWaltonChain is a business ecosystem or platform and not a token.