What is Waltonchain (WTC)?
Waltonchain is a supply chain protocol that integrates blockchain technology to enhance smoother logistics operations. Waltonchain deploys its own cryptocurrency WTC, to facilitate transactions on the protocol. It aims to be the driving force for trustworthy business ecosystems where merchants, suppliers, consumers, and stakeholders trade transparently. You can track the live WTC price featured on the Waltonchain price chart above.
The growing global trade market has strained supply chains leading to backlogs and delayed deliveries. Waltonchain aims to resolve these inefficiencies by leveraging radio frequency identification (RFID) and blockchain technology. With its custom-designed RFID chips, the protocol allows automated traceability and verification of items in transit. Waltonchain’s RFID chips store data, which is translated to random ID hashes uploaded to the blockchain via a reader. The chips can be applied to efficiently track products in transit, identify high-end clothing, and trace food or drugs.
The Waltonchain’s architecture has a unique consensus model termed Waltonchain Proof-of-Contribution (WPoC). This mechanism is derived from the conventional Proof-of-Stake (PoS) consensus mechanism.
Use Cases of WTC Tokens
In essence, Waltonchain coins are used to make or receive payments and cover fees on the network. Besides that, the protocol deploys WTC in rewarding nodes that secure the network through the WPoC consensus mechanism.
Crypto enthusiasts can trade WTC coins or just hold them in their wallets. If you're considering investing in this asset, check out the WTC price trends and history featured on the aforementioned Waltonchain price chart.
Who Founded Waltonchain?
Waltonchain was founded by Do Sanghuk and Xu Fangcheng. The co-founders have an extensive experience in the supply chain sector. Sanghyuk, for instance, is a former director of the Korean Standard Products Association, while Fangcheng is a former supply chain management director of Septwolves Group Ltd.
The protocol is run by a nonprofit organization, Walton Chain Foundation, established in 2017 and based in Singapore. This foundation oversees Waltonchain’s ecosystem development, technology R&D, project cooperation, and community governance.
Fun fact: Waltonchain is named after Charles Walton, the inventor of RFID technology.
