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Investing In Waltonchain (WTC) – Everything You Need to Know

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Waltonchain (WTC) provides enterprise clientele with advanced supply chain management options. The protocol combines numerous cutting-edge technologies to accomplish this task. Specifically, the network integrates IoT, RFID, and blockchain technologies in a seamless manner.

Waltonchain (Wisdom Alters Label Trade Organization Network) derives its name from Charlie Walton. Notably, Walton is the inventor of RFID (Radio Frequency Identification) technology. The developers envision their protocol operating as a global leader in the supply chain services industry.

Internet of Things (IoT)

To understand the importance of Waltonchain, you first need to understand what the IoT (Internet of things) is and how it has the potential to change the industry forever. The IoT is a term designated to describe the growing number of smart devices. A smart device is any item that has a sensor and can communicate data to the internet. There are billions of IoT devices around the world.

Waltonchain (WTC) - Homepage

Waltonchain (WTC) – Homepage

Another technology you need to grasp is RFID chips. This close-range communication method enables sensors to read passive radio chips embedded with vital data. These sensors can be IoT devices which makes the entire system extremely flexible and versatile. It also automates many of the core processes of logistics and improves overall trackability.

What Problems Does Waltonchain Attempt to Fix?

There are a lot of issues that Waltonchain helps to reduce in the logistics sector. For one, it streamlines the entire monitoring process. The logistics sector suffers from inefficiencies that cost companies billions in lost revenue. Part of the problem originates from the outdated systems in place. Today’s logistics systems combine legacy services and paper-based systems with digital features.

Sadly, anytime you convert a system or need to integrate additional information from paperwork, you run the risk of human error or fraud. The use of RFID tags and IoT sensors eliminate the need for human intervention. The fewer people needed to monitor and handle shipments, and the lower the risk of fraud, theft, and price gauging.

Waltonchain users have saved millions using the protocol’s flexible options to eliminate inefficiencies in their supply chains. The system provides a secure and cost-effective alternative to the status quo. It can even be set up to automate processes such as tokenizing items to improve trackability.

Fraud

Logistics fraud is a major problem for shippers nowadays. When you think of fraud like counterfeit goods, you probably envision high-end clothes or other name-brand items. These sectors lose billions to fraud yearly. However, there are more important sectors to monitor, such as medical supplies. A knock-off shirt may cost a company money, but counterfeit medicine takes the lives of thousands of people yearly.

Benefits of Waltonchain

Waltonchain provides full authentication and validation options to users. The protocol leverages the immutable nature of blockchain tech to improve transparency for both shippers and consumers. Waltonchain sensors and RFID chips can relay vital data such as product info, location, and if the product has been tampered with. All of this is completed via an autonomous system with the information available in real-time.

Identify

Waltonchain provides digital ID services to the market. Firms can leverage the network to improve verification systems and lower costs. The network supports the use of RFID identification chips as part of this strategy.

How Does Waltonchain Work?

Waltonchain operates on a proprietary blockchain. The developers choose to create a new network to support the protocol as a way to improve security, performance, and lower costs. The blockchain facilitates fast data exchange between the network’s various techs. The protocol can communicate data from other blockchains, IoT (Internet of things) devices, and RIFD tags.

Waltonchain (WTC) - Logistics

Waltonchain (WTC) – Logistics

Interestingly the team developed a special RFID chip to improve the capabilities of the network. The improvements to the technology include an encryption and decryption module. The new chips also possess the ability to communicate directly with the Waltonchain making them next-gen oracles.

Waltonchain

The Waltonchain is an open-source decentralized public blockchain. The network support third-party developers and the community encourage firms to develop subchains to meet their specific needs. These subnets can leverage the full scalability and security of the protocol. Notably, they can create proprietary consensus, tokens, and even governance systems as a subchain.

Walton Wallet

The developers put forth the Walton Wallet to provide users with a secure way to keep their digital assets safe. The wallet is easy to use and features access to the most common options needed today. You can send, receive, and monitor your holdings using this system.

WTC - CoinGecko

WTC – CoinGecko

Token

The WTC token is a critical component of the Waltonchain experience. This versatile token can be used to pay fees, send value globally, and much more. The token plays a vital role in the distribution of dividends. WTC has a capped supply of 100 million tokens.

Consensus

To remain scalable, the Waltonchain integrates a PoS consensus mechanism. This system eliminates the use of miners and mining rigs. Users can lock their tokens in network wallets to validate the state of the blockchain using this system. As such, it’s more open and requires less money to start and fewer technical skills.

Governance

Waltonchain uses a community voting system to ensure the users remain intact. The system enables users to stake their WTC tokens to cast votes. If you want to cast more votes, you need to hold more WTC. This strategy helps to drive demand for the token and improves transparency via the distributed voting and management system

History

Waltonchain entered the market in 2016. This China-based logistics firm launched on the fifth anniversary of Walton’s passing and has seen growing adoption since that time. Notably, the first sector to embrace the new technology was the Chinese clothing sector.

How to Buy Waltonchain (WTC)

Currently, Waltconchain (WTC) is available for purchase on the following exchanges.

Binance – Best for Australia, Canada, Singapore, UK and most of the world. USA residents are prohibited from buying Waltonchain (WTC). Use Discount Code: EE59L0QP for 10% cashback off all trading fees.

KuCoin – This exchange currently offers cryptocurrency trading of over 300 other popular tokens.  It is often the first to offer buying opportunities for new tokens.  This exchange currently accepts International & United States residents.

Huobi Global – Established in 2013, Huobi Global has since become one of the world’s largest digital asset exchanges, with an accumulated trading volume of US $1 trillion.  It should be noted that Huobi Global currently does not accept USA or Canadian residents.

Waltonchain – Advanced Low-Cost Logistics for the World

It doesn’t take much research to see the potential Waltonchain has to revolutionize logistics. The current state of the market is in need of a revamp. Blockchain technology, when coupled with IoT services, has proven to be an excellent alternative to consider. You can expect to hear more from Waltonchain in the coming weeks, as the project expands its network further.

David Hamilton is a full-time journalist and a long-time bitcoinist. He specializes in writing articles on the blockchain. His articles have been published in multiple bitcoin publications including Bitcoinlightning.com

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