Based on the blockchain, Waltonchain resorts to RFID technology to promote blockchain from the Internet to the Internet of Things to realize the concept of Value Internet of Things so as to create an authentic, traceable and data-fully shared, completely transparent business model. The purpose is to build a public chain of commercial ecology at the bottom of the chain. On this chain, merchants can build various sub-chains according to their own needs. The main characteristics of business ecosystem for all the data (including property ownership data, commodity flow data, etc.) are authentic, tamper-resistant, with a timestamp, so will be able to build a truly reliable business ecosystem.
Description of Waltoncoin
In the Waltonchain ecosystem, the most core parent chain is called waltonchain in which the token used for circulation and payment is called waltoncoin (hereinafter referred to as WTC). WTC plays a central role throughout the Waltonchain Project System:
1. The Meaning of Existence
First of all, by rewarding WTC to encourage nodes to keep accounts and support the reliable operation of all functions of the parent chain.
When creating sub-chains for various industries, needs to consume WTC while save some WTC to provide credit guarantee.
The reward mechanism of sub-chain application data contribution can be realized through our core technology.
Waltonchain connects to all kinds value data for commercial applications, the upper application payment system based on these value data, can be running smoothly on the basis of WTC.
In conclusion, with the development of quantity and scale of sub-chains in various industries, the demand of the WTC application will continue to increase, which promotes WTC appreciation.
2. Technological Innovation
Waltonchain combined Blockchain with RFID technology, is the first came up with the concept of the Value of Internet of Things. The WTC transaction records are open, safe, decentralized, traceable and tamper-resistant, which solved product traceability issues.
Waltonchain adopts a unique double-chain architecture design concept, presents the latest cross-link and validation mechanism, which effectively solved the data exchange issues between sub-chain and parent chain, as well as equity transfer.
Waltonchain adopts a hybrid consensus mechanism based on PoS + PoW.