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Posted by
#wtchodl
3 months ago
Comments are lockedStickied postModerator of r/waltonchain

What is Waltonchain?

Waltonchain is the only truly decentralized platform combining blockchain with the Internet of Things (IoT) via RFID technology. Their blockchain is implemented in the foundational layer, through their unique, patented RFID chips, which are able to read and write directly to the blockchain, creating a genuine, trustworthy, and traceable business ecosystem, with complete data sharing and absolute information transparency.

Click here for the News, PR & Awards Thread.

Official Sources

Walton Wallet

Noteworthy Posts

Progress Reports

Unofficial

The Team

---->>>> Waltonchain Organizational Chart <<<<----

Partnerships

Waltonchain Government Affiliations Infographic

Waltonchain Business Affiliations Infographic

Summary of Some of Waltonchain's Government and Business Partnerships

Child Chains

  • Freyrchain - r/Freyrchain - The world’s first blockchain-based collectibles data authenticity platform
  • Fashionchain r/Fashionchain - Fashionchain restructures the strongly-centralized pyramid structure inherent in the fashion industry ecology into a decentralized structure in which all parties connect point to point directly.

Videos

List of AMAs

Progress Reports

Exchanges

Frequently Asked Questions

Q:What's the Total Supply of Waltoncoin (WTC)?

The Total Supply is 100 million coins with no further issuance in any case. The Max Supply is currently 70 million coins, with the remaining 30 million left to be mined over the course of many years. Currently, the Circulating Supply is around 25 million.

Q:I hear Walton is moving to its own blockchain?

Main net has just been launched. Stay tuned for details about the token swap and transition to the new chain!

Q:How do I convert my ERC20 WTC tokens to the real thing?

You can either leave your coins on the exchange, and they will take care of the switch for you, or you can leave them in your MEW wallet, and the team will provide details on how the tokens will be swapped over. Just sit tight! Details are coming.

Q: How do I move my WTC to MEW (or the new Walton Wallet)?

For MEW:

I. Send your WTC to your wallet address.

II. Add a custom token using the information below:

Address: 0xb7cb1c96db6b22b0d3d9536e0108d062bd488f74

Name: WTC

Decimals: 18

For Walton Wallet:

Do not send ANY coins to this wallet yet. Wait for instructions from the team. Once everything is safe, you will be able to just create a wallet on the Walton Wallet and send your coins to the public address generated.

Q:What if I want to keep them on my Ledger Nano?

You can do that, and the team will still snapshot your wallet and copy it along with your coins; however, the the Ledger may not support WTC currently. Don't fret. Your coins are 100% safe. What that means is, if there is no Ledger support, the only way to transfer your coins out of the wallet will be to expose your Ledger's private key. I don't recommend doing this, as it will make the ledger no more secure than a paper wallet (still very secure, but a waste of money now).

So basically, your coins are safe. You can still mine to the address. You just won't be able to move them until Ledger support comes. But if you really need access to the coins, you can break out the Ledger's private key on MEW and log into your wallet.

Ledger support will come, we just don't know exactly when. Walton is also making their own Walton hardware wallets. I'll update this with more information as it comes.

Q:My GMN is on MEW. Will I ever be able to secure GMN in a hardware wallet?

As you know, moving your GMN will void your Guardian status because it is attached to the wallet containing at least 5000 WTC; however, the team has stated that they are working on a solution for this and have reassured us that our coins will be safe. We will have to wait for more information regarding whether the transferring of a GMN to a new address will be possible in the future.

Q:What is the utility of WTC? What gives the coin value?

In the WaltonChain Ecosystem WTC will have multiple functions:

  • Issuing sub chains
  • Dividend interest
  • Credit and mortgage system
  • Distributed asset exchange
  • Distributed voting and governance system.

More in depth coverage of each point here

Q: Is Waltonchain a platform?

Yes. Waltonchain is a smart contract platform that will have ICOs and dApps.

Q: But I thought Walton just tracked clothing in the supply chain. What else can it do?

Walton is capable of implementation in smart cities, smart waste management systems, and things of that nature. That's certainly beyond supply chain. Walton isn't so much a "supply chain" coin as it is a Big Data coin. The RFIDs are used to gather data, which is very useful in supply chain management. But it can also be used to combine with smart devices and make an Internet of things network.

Q: Why does this need a blockchain?

"It is difficult for the Internet of things under the current central structure to accomplish real autonomous cooperation and effective transactions, because the relevant parties of such cooperation and transactions often belong to different stakeholders with complex and uncertain trust relationships. Therefore, the collaboration and transactions of the current Internet of Things devices can only be carried out under the same trust domain. That is to say, the devices to collaborate and trade must be provided or verified by the same Internet of Things service provider, which significantly reduces the true commercial value of the Internet of Things applications." (Page 2 of the Whitepaper)

To expand, counterfeiting is an obvious answer to this question. There needs to be a way to truly authenticate an item. Blockchain is that answer.

Walton's blockchain also removes data silos. Companies won't have to manage any database anymore. Everything is handled by Walton. Walton uses child chains which are separate from the parent chain. Companies can keep proprietary information secret and private on their child chain, and only broadcast necessary information to the parent chain for public viewing. Blockchains make the sharing of info between companies easy and fast, too. And then obviously, blockchains have perfect transparency and are immutable.

Smart contracts are also extremely useful. In the supply chain industry, after perfectly counting and storing inventory, things can be auto-ordered and paid for simultaneously with wtc, just as an example. Your mind can come up with a whole host of other ideas related to automation.

Furthermore, decentralized, transparent, and immutable data for things like smart waste management systems, which Walton has designed, and air-pollution monitoring systems in smart cities would benefit greatly from the blockchain, for reasons explained in the first point from the whitepaper.

You could also imagine on the customer end that wanting to know where all their goods come from is important. This is in line with counterfeiting, but also with things more benign. Imagine wanting to return an item to a store, but can't remember which grocery store it was from. Lots of simple improvements like that are all use cases for blockchain.

Q: What are the 6 child chains rumored to launch around Main Net?

One is a Smart City contracted by a local Korean govt. monitoring air particles (no further specifics). Another is based in the agriculture industry (no further specifics), and another is Freyrchain, a culture and arts chain. The other three have not been revealed yet.

Q: I heard Waltonchain has patented technology. What are the patents?

The Walton team has filed filed for 13 patents, 7 of which have been approved so far. The patents cover many inventions in chip design, but the main one of interest is the Transaction ID-reading RFID chip with memory storage. This allows the blockchain to be implemented in the Foundational layer through the RFIDs themselves. The chips can generate their own random ID hash within a secure Key Generation Center within the chip, and the hash along with the data are uploaded simultaneously to the blockchain via their RFID reader. This makes WaltonChain fully decentralized and secure.

Q:What are the advantages of the RFID IC tag chip designed in this project?

Existing RFID chip industry cannot meet the development of Internet of Things applications, especially applications for the Value Internet of Things:

  • There are few options available while the prices are high
  • The transmission power and stability need to be improved
  • The reception sensitivity is low
  • The anti-interference ability is poor and the transmission power is low
  • The existing RFID ICs have many problems such as high power consumption, poor matching with antennae, and difficult system integration, etc.

The project’s IC design has the following significant advantages:

  • High security: The chip integrates asymmetric random password pair generation logic, uses a core asymmetric encryption algorithm with independent intellectual property rights, and an optimized design without increasing the cost and power consumption of the chip, enabling higher communication security
  • Tamper-resistant: A dedicated storage space is integrated into the tag chip for the storage of hash value of tag status and key information
  • Optimized anti-collision design: The chip uses a binary tree anti-collision algorithm with independent intellectual property rights and a time division multiple access design, significantly improving the tag recognition success rate and the number of identifiable labels at the same time
  • High sensitivity: The chip uses an optimized noise suppression technology to improve the noise figure at the receiving end and the overall receiver sensitivity, which plays an important role in increasing the recognition success rate
  • Good compatibility: The chip can achieve high-frequency and ultra-high frequency functions at the same time, so the end customer can read the information through their smart phone and inquire about reliable product information
  • Long lasting: The chip adopts a low voltage and low power-consumption design, allowing the chip to last more than 20 years  

Q:How much do the chips cost?

Waltonchain in a nutshell with COO Monitor Chan:"We develop and produce hardware such as chips ourselves. This really differentiates us from other companies at the moment. Basically, Silitec, our technical support company, was founded in 2015 and is specialized in manufacturing chips. They already have a R&D team of around 20+ people, so in that way we are not 'increasing' cost. Next important detail is that Waltonchain’s blockchain technology is written into our chips. This means that unlike traditional RFID chips that have their own specific ID and cost around $0.15 to $0.20, the chips we develop will be below 5 cents. With the volume of sales increasing, the overall cost will spread over many units, and the system's cost and ID’s cost will go down consequently, or simply put, economics of scale will do the work."

Q:I need help with mining. What resources are out there?

r/WaltonchainMining is for this purpose. Community members here have done testing with many different configurations and have provided ample information for anything you need with setting up your cpu/gpu rig.

Q:How many GMNs are left?

The Waltonchain Explorer now tracks these addresses.

Q:Who are the Knights?

Credit for the original making of this post goes to u/thelatemercutio

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All of us who mined before block 200.000 should be paid now.

GMNs got 3 WTC instead 4 WTC per block. After the final Tokenswap they will pay the missing rest.

Check your wallet guys 😉

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At the moment, Waltonchain is one of the biggest and most promising projects in the Crypto field. People, at Waltonchain, are building the future with their ambition. As for me, Waltonchain is my favorite project in the space. However, the team has recently released Whitepaper 2.0 and it has received a lot of criticism from this community and other crypto communities because it was kind of vague. To be honest this leaves me bothered and worried. I can't really understand how such a big project like Waltonchain could drop such a low quality Whitepaper. Taking a look on the partnerships Waltonchain has gained so far and the blockchain institute they started up in South Korea, I cannot believe this happened. I would like to hear the opinions of people here about this matter. Thanks in advance.

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is there one with extradata filter?

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Hello guys, Hi Walton Community, Dear WaltonLovers,

i did it and i know why i spent more than 16hrs of lifetime into this sheets of paper.

It is some sites longer than the original WhitePaper. Mine has 87 sites of manually handwritten translation.

TL;DR;

It´s my unofficial translation of the WaltonChain WhitePaper 2.0 in german.

Let me teach you, what the reason was.

WaltonChain is one of the most exiting projects i´ve ever heard before, because their goal will be huge for all of us.

I wrote some articles about WTC before i did this translation and i´m invested since nov 2017 after i heard about the first time. The first thing i did was reading and understanding their project. Many hours later i started to search per google too and hoped to understand what they explained in the WhitePaper 1.0.

It was hard for me, because there were many words i never heard before.

Today i know what they meant and i know what they will hopefully reach in the future, but i know the most barrier is the language.

A lot of people out there are to lazy to understand the tech behind the coins or just ignore it, because they think "i´m rich in two weeks", and other guys can´t read/speak english and stop to read after some phrases.

Jep, people who want to understand but didn´t understand another language have no chance. Their door will be locked forever if nobody translate it for them.

There are more than 185million people around the world who speak/read german and 105 million german native speaker.

Perhaps i can reach some more of them if they understand what walton is creating for the entire world!

Enjoy and thank me later ;-)

http://bit.ly/WTC20DE

Cheers

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WTC has a lot of partners, but what has so far been accomplished with them? From the progress reports (https://twitter.com/Waltonchain/status/962886843535519746 and https://medium.com/@Waltonchain_EN/completion-status-of-the-waltonchain-work-progress-plan-for-q2-2018-79739156bb03) I see only Kaltendin, the ISHIJAH pilot, and the collaboration with Freyr.

What else am I missing?

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Does anyone else have this app downloaded on their phone? I believe it's a coinmarketcap.com app but I could be wrong. It's made by PrograMonks and it's a gold/black icon.

Now before I get started on my rant, I just want to acknowledge that I know how the community feels about the VeChain bashing or comparing the two at all in terms of competing with one another. However a portion of my rant will include how unfair it is that VeChain is given 1000x more publicity via the news section on this app. So fair warning. Also, while I am all in WTC and hold no VET, I wish VET all the success in the world and personally I do not feel 1 must fail for the other to succeed. I actually think the success of VeChain would help drive WaltonChain's success.

Ok, now that I got that out the way let me explain what I'm upset about.

When you go to the news section for WTC on the app, there is a total of 6 articles the latest of which was added on 4/17/18 and is the only news article that doesn't completely trash WTC. The other 5 consist of articles such as "Top 5 Crypto Fails of 2018" (which also has VeChain tagged in it coincidentally, not that anyone would ever see it because they get several new articles posted every single day and this article was posted like 6 months ago.)

Yes VeChain is higher up in the top 100 and has a much higher marketcap so it's understandable there would be more news about it and if that was simply the case I would have zero grievances with it. But it's not just that, here is what really pissed me off and caused me to write this thread:
On Aug 31st Crypto Coin News posts an article titled 'Bitcoin at $7,000: Market Recovers After Drop, WaltonChain Surges 30%.'
THIS FUCKING ARTICLE TAGGED VECHAIN AND BITCOIN only!! The entire article is discussing Waltonchain for the most part and doesn't mention Vechain one single time yet if anyone goes to the news section for WTC on the app, the article is no where to be found.

So basically any and all possible new investors who are doing their research on this app (which is the most popular coin app on android.) are very likely to only see a very shitty list of articles and none of the good ones and then decide not to waste their time researching any further.... I mean where's all the news about our partnerships? What about all the awards the company is winning? How about that news about the shopping center thing? Sorry I'm exhaused and can't remember most of the good news we've had over the past year but I know we've had plenty....

So what do you guys think about this? Any ideas on how we can fix this issue?

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