Waltonchain (WTC) is a cryptocurrency that proposes the concept of Value Internet of Things (VIoT) based on blockchain technology and IoT. As mentioned in the whitepaper, the blockchain here merges through the IoT, relying on devices, value, network, and data. Waltonchain aims to direct humans into a reliable digital life utilizing blockchain technology, consequently achieving consensus, co-governance, co-sharing, and connection of IoT services and data in the advanced information age.
The Waltonchain technology creates sub-chains around the parent chains. Traders can create custom-made child chains on the WTC eco chain to monitor all commodities' logistics, production, warehousing, and retail movements. Furthermore, Waltonchain uses the IoT model and developed a reader chip and tag chip to record all physical commodities' data to the blockchain automatically.
WTC is the token for Waltonchain, which operates on the Ethereum blockchain. The token is defined as a new standard when the new data is written by ERC-20. A JavaScript API and web service verify these new tokens. WTC provides Waltonchain's wallet to store the tokens. However, the benefit of Waltonchain token's Ethereum standard is that WTC can be exchanged with other Ethereum-supporting wallets. Waltonchain coin is the only transactional digital currency for the coins that operate on the Walton blockchain through a byte fee system. Apart from these general benefits, Waltonchain coin also performs beneficial functions such as issuing sub-chains, providing dividend interests, distributing asset exchange, and distributing voting and governance systems to develop efficiency in the operations, thus assisting traditional enterprises in evolving business models and product scope, expanding the value chain, enhancing operational efficiency, and also reducing enterprise costs. In addition, as a business eco chain, Waltonchain aims to build a fair, traceable, serviceable, translucent, and credible new-generation business ecosystem.
