Waltonchain (WTC) is an Ethereum token that merges blockchain, RFID technology, and IoT (Internet of Things) to strengthen supply chain management. Only 100 million total WTC tokens exist and no additional coins will be issued.
These guides will help you learn about what it does, how it works, and how to invest in WTC from Australia.
What is Waltonchain?
Founded in November 2016, the Waltonchain Foundation executed the project on March 31, 2018. Named after Charlie Walton, the inventor of the RFID chip, Walton is also an acronym for Wisdom Alters Label, Trade, Organization, Network.
The Waltonchain uses RFID tech to track registered products along supply chains and storage facilities. It stores data in the electronic ledger, which the public has access to at all times. Waltonchain is a direct competitor to the Chinese firm, VeChain, using similar strategies to assist with supply chain management.
The Waltonchain uses an "ERC-20 token WTC," creating "side-chains” which provide dividends in the form of interest to its holders. It also acts as a credit instrument. The side chains have an independent operation, with consensus mechanisms for improving scalability and retaining tight security on the main chain.
The company pays out its dividends to "Masternodes" that validate transactions on the chain while securing the network from attack. To operate a master node, a user must have 5,000 WTC in collateral. Of note, only 100 million total WTC tokens exist – this number will remain constant and no additional coins will be issued.