WALTONCHAIN（沃尔顿链 in Chinese, or WTC for short is a genuine, trustworthy and traceable business ecosystem with complete data sharing and absolute information transparency. It is created by the combination of technologies of RFID and block chain, which push forwards the integration of block chain and the Internet of Things.
Can you summarize what WALTONCHAIN is for in only one sentence?
To address the bottleneck problem of the business application of the block chain -- how to incorporate physical assets into the block chain automatically. Please refer to the White Paper of WALTON at https://www.waltonchain.org for more details.
What are the technical advantages of WALTONCHAIN?
1. High security; 2.It is possible to truly trace back to its source; 3.It is possible to achieve the anti-counterfeiting goal; 4. Realize the decentralization with less demanding requirements for credence; 5. Reduce labor costs.
What is the value of WALTON Coin?
1. It can be used as currency to purchase related commodities; 2.It can be used as the unit of measurement for credit of the Internet of Things; 3.It can be used as the unit of measurement for the workload or quality of the Internet of Things; 4. It can be used as the storage of value or the value transfer method ; 5. It enjoys high popularity and increasing demands, while the issuance volume is fixed; thus, the potential of its appreciation is tremendous.
How much WTC would be required for staking / becoming a master node?
When a node or account is holding more than 5 thousand WTC, it will become a super node. Extra rewards will be granted the super node for bookkeeping. The more WTC and the longer it is holding, the more rewards it will receive.
What kinds of chips are involved in the Waltonchain project?
It involves two types of chips: the RFID tag chip and the reader-writer main control chip.
Compared with traditional RFID tag chip, what are the advantages of the RFID tag chip designed in this project?
Compared with traditional RFID tag chip, the RFID tag chip designed in the project has the following advantages: 1.A dissymmetric encryption and decryption module is integrated into the tag chip of this project, bringing out safer tag communication; 2.A dedicated storage space is integrated into the tag chip of this project for the storage of hash value of tag status and key information, which makes the tag content truly tamper-resistant; 3.The tag chip of this project adopts the low voltage and low power consumption design, and applies advanced technology; though with an increased size of design, its power consumption is lower than that of traditional design; 4.The anti-collision logic is added to the design scheme of the tag chip of this project. As a result, the collision probability is lower, and the probability of skipping - reading is significantly reduced.
What are the advantages of the RFID reader-writer main control chip designed in this project?
Compared with traditional RFID reader-writer chip, the RFID reader-writer chip designed in the project has the following advantages: 1. A dissymmetric encryption and decryption module is integrated into the reader-writer chip of this project, and this module makes the communication safer when reading and writing the tag; 2. A processing logic of hash function is integrated into the reader-writer chip of this project, capable of hashing the key information of tag. The hash value generated is written back to the tag, so that the tag information is truly tamper-resistant; 3. A relevant processing logic is added to the reader-writer chip of this project in accordance with the characteristic of block chain; it plays a role similar to the miner to share the workload of the chain, and the reader-writer may serve as a node in the chain; 4. The reader-writer chip of this project truly combines the block chain and the Internet of Things, bringing the assets into the chain in a genuine and reliable way; and it offers strong support for the asset management, warehousing, and logistics and other applications.
What are the competitive advantages of the RFID system schemes of this project?
1. The RFID system scheme in this project has already been successfully applied to the closed-loop system of each link, such as the production, logistics and warehousing and chain stores and so on in the garment industry and the manufacturing sectors for years. The executive team is well experienced in related industries, and capable of ensuring the good quality and effect of specific project implementation; 2. The enterprise standardization system established by the team in the industry application has become systemic industry standards. Its easy for the wide application of the project and very likely to replicate.
Why choose the application of garment industry as the breakthrough point in Phase 1.0 of this project?
1．The RFID tag has achieved the management of item level in the application of garment industry. Hence, the number of usage is enormous. Large amounts of experimental data can be obtained easily in the development and early application of the chip, as a result of which the chip and system technologies will mature quickly ;br 2. Many core members of the team have years of industry experience in the field of garment, and they are also familiar with the garment industry, the application of RFID intelligent system, and the promotion of software informationization products and other areas. With abundant resources of customer channels, the upfront cost of customer development is low. Therefore, it is possible to enter the market rapidly and to build up customer base in early days.
What is your strategy for communication with the western audience / tokenholders going forward?
We will put more effort on the WTC-brand in the future and strive to be a truly international company. That means we will focus more on western platforms and will work to improve on our communication and delivery.
How does your blockchain technology intend to handle the potentially huge transaction loads this would generate if it took off. Can your blockchain scale?
The parent chain of Waltonchain is responsible for the circulation and creation of child chains, while the implementation of various applications will be completed via various child chains. As for the capability for processing transaction loads , we may make a comparison to Ethereum, which adopts PoW consensus mechanism. The average block creation time of Ethereum is around 30 seconds, with each block able to handle dozens to hundreds of transactions. Thus, the transactions processed in one day can be as many as 500 thousand, which is already good enough to satisfy most needs of applications under the public chain. What is worth noticing is that the parent chain of Waltonchain adopts PoST + PoW consensus mechanism, which is able to sustain an even bigger transaction volume. On the other hand, Waltonchain does not store all data on the parent chain. Instead, Waltonchain adopts the combination of the parent chain and child chains , in accordance with the specific application scenarios. Based on the needs of different applications, the design of child chains can be different forms ，ranging from public chains , alliance chains to private chains, and various consensus mechanisms can also be adopted. Additionally，the size of a single block can be enlarged within a reasonable scale to improve the TPS(transaction per second) but not to affect the verification speed. Here is a summary: Compared to Ethereum, of which a single block can process dozens to hundreds of transactions, the processing speed of Waltonchain can be much higher , through improving the consensus mechanism , properly enlarging the size of blocks (actually , Merkle tree can also be abolished as an underlying architectural mechanism, and the data base can be stored via key value pairs. In this way, speed will be five times higher ), changing to more efficient security algorithms (for example, scrypt is a RAM-consuming hash, which can be changed to other more efficient hash algorithms, on the condition of satisfying security needs ). Moreover, Waltonchains design of combining the parent chain and child chains is tailored to a large scale and extensible ecosystem, making Waltonchain highly scalable.
Will you having your code base public?
We have plans to open the Waltonchain code, we would open the relevant code at the right time after we have completed full reliability and security tests.
What is the difference between Waltonchain and Vechain?
Vechain, through the relevant API interface to achieve the block chain and internal business applications docking, within the enterprise business application level, still dependent on the enterprise centralized control, it can not be open and transparent like a decentralized platform, but also a very good method. Waltonchain solution is through the RFID tags, to achieve blockchain, people, objects, events to be connected on the foundational level. Anything/anyone that serves any role within the entire business processes can correspond to the tag and in turn be on chain, to achieve the seamless integration of the chain and the physical world, this can make the specific business application process more open and transparent; RFID tags can also be combined with intelligent hardware, to further integrate the block chain and the physical world in a deeper way, and give a lot more room for its utility. This is the essential difference.
How does Waltonchain plan to prevent the RFID chips from genuine products being removed and placed into counterfeit good? Whilst I understand this will stop the production of counterfeit good from counterfeit factories, I do not understand how this will prevent chips from genuine products being placed onto the exact same counterfeit item.
In the prevention of RFID IC removal, currently Waltonchain has a corresponding solution for different industry applications. In the clothing industry, we put RFID tags with washing mark with encapsulated in a single product brand clothing washing mark, RFID label along with single product transfer among production, logistics, sales and other aspects of circulation, the forger cannot get washing mark removed and remove the RFID tag to the other fake and shoddy goods. For the food, retail and other industries, the Waltonchain developed a fragile, anti transfer RFID tag, which is attached to the RFID tag. If the forger wants to remove the label, it must be removed with stress and it will destroy the products. Our products will destroy the label line under the condition of stress removal, which will lead to the failure of the RFID tag, and the imitations can not be used on shoddy products. Intelligent packaging technology at the same time we Walton team also developed RFID tags and the industry product combination; label technology combined with different clothing materials R D and perfect, the RFID label and clothing products perfect combination, make use of the RFID tag has reliability and stability at the same time, more subtle. At the same time, in the tag IC will also store the characteristics of the corresponding items and status information hash value, if removed to other products, will lead to unable to synchronize data on the chain, to ensure that labels and physical one-to-one correspondence.
If the RFID is on the packaging of a box, how will Walton plan to prevent the contents of the boxed being replaced? With the counterfeit market being so lucrative, people will go to extreme lengths.
The fragile anti transfer label developed by our Walton chain team can prevent the replacement of the label from the genuine case. We will place the fragile anti transfer label location where the package may be opened, ensuring that the RFID tag is fully bound to physical assets when applied. The use of the product packaging before demolition related information consumers can query to the product, if the replacement units in the packaging box will have stress, will enable the RFID tag failure, product information will not be again query, this solution can also guarantee the product will not be replaced.
With the RFID chips being issues from a WaltonChain database, what would happen if the issuing database was compromised? Would the issueing database be entered into the blockchain?
Waltonchain is based on block chaining, designed to be decentralized, distributed accounting, and all upper chain data are confirmed by more than half of the nodes. The data on the chain can not be tampered with.