Waltonchain, RFID technology and the Smart city of the Future: A look at WTC
Wisdom. Alter. Label. Trade. Organization. Network.
WALTON. As in Waltonchain. Now lets talk about why this cryptocurrency is worth something!
Waltonchain(WTC) is being developed around the concept of the Value Internet of Things which is designed to construct a perfect commercial ecosystem through the integration of the real world and blockchain technology. It is essentially an effort to create a new era of the internet + industries. Waltonchain seeks to be the next network platform for innovation and development of application for different industries.
For example, one use is through the RFID chips, which tend to be used for categorization of clothing, food, is a major part of the Waltonchain platform. The technology utilizes an **RFID tag interface which connects all assets together, and an RFID reader which connects dApps to the blockchain.
These RFIDs can locate targets, read and write relevant data through the interaction with radio signals without the need for mechanical or optical contact between system and target. RFID technology is also used in library categorization systems and as a way to identify the reliability/quality of food.
Waltonchain believes that IoT is suffering under the currently centralized system it is forced to operate in. Operating through a centralized system leaves APIs prone to the whims, decisions and security of that sole organization.
In a decentralized system, the network will uphold itself and prevent a single point of failure. Centralized IoT is prone to a single point of failure, whereas with many different nodes, cryptocurrency drastically reduces that risk.
Waltonchain has a logical step-by-step process for appreciation of the brand and technology. It starts with the creation of a child chain. Once a child chain is established, the ecosystem would grow through businesses joining it. With an increase in child chains as more businesses end up joining the community, the demand for WTC would naturally go up.
WTC as a token would be the only one that acts as a parent chain. Any and all cross-child-chain data transmissions and transactions would be expended through the use of WTC. 90% of transaction fees from network usage would be allocted to wallets assoiated with child chain bookkeeping nodes. A smaller amount of 10% would be exchanged to WTC and allocated to wallets of parent chain bookkeeping nodes.
Up through this point, Waltonchain looks like a promising foray into blockchain and cryptocurrency. Through Phase 1 of the Waltonchain project, a clothing system has been integrated with RFID and beacon chips have been utilized for protection of intellectual property rights. They also have a promising partnership with Alibaba on cloud technology which they are planning on using for the development of 'smart cities' of the future! As Waltonchain development continues, expect to see more promising news coming out in the future!
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BTC:
17itKMT4ombkPech3hktVrVw5t2PDHZ6mv
ETH:
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LdLuQKkKGoKSBhvAmth8dPjMQkNv4r89nu