Blockchain Platform for IoT
Waltonchain is a blockchain project that was named after RFID (radio-frequency identification) inventor Charles Walton. RFID is a chip that lets tag various consumer products, production details, and pets for identification purposes. Therefore it is not a surprise that this particular project is mainly focused on applying the blockchain technology to logistics and the Internet of Things (IoT) concept.
New Value Internet of Things Concept
Waltonchain introduced the Value Internet of Things (VIoT) concept that can utilize the decentralized blockchain to store and identify information about objects. This logistical solution brings such benefits as improved security, eradicating counterfeit, tracking the product origins info and reducing logistic system’s running costs.
The system’s token has a ticker symbol WTC. There is a supply of 70 million tokens in total now with the maximum amount due to reach the 100 million mark. Waltonchain eco-system uses the Proof of Stake and Trust consensus algorithm, which provides WTC holders with dividends for token hodling as well as encouraging its users with a system of node reputation bonuses.