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What is Waltonchain?

Through the combination of RFID, IoT and blockchain, Waltonchain promotes blockchain from the Internet to the IoT to create a genuine and traceable business ecosystem with complete data sharing and absolute information transparency.

What does Waltonchain do?

We provide a solution to the bottleneck of commercial blockchain applications and upload physical assets to blockchain automatically.

Can you tell us about Waltonchain team?

Our team is a group of pioneers specializing in integration of blockchain, the Internet of Things and RFID technology. It includes Chinese and Korean business, academia and investment talents. We expand the blockchain technology into the Internet of Things, as this combination will lead the next technological revolution. Our project has the strong support of senior blockchain developers, renowned investment institutions, prestigious lawyers, finance experts, world-class chip design experts and senior executives of China’s top tech and clothing businesses.

Waltonchain has grown to a team of more than 200, nearly 80% of which are technical professionals, from the original 50+ people a year ago. Waltonchain has set up research bases in Shenzhen, Guangzhou, Nanjing, Quanzhou and Xiamen in China and Seoul in Korea, and has become an international organization.

What is the future vision of Waltonchain?

From the IoT standpoint, whether the whole network architecture is advanced, expensive or what devices, terminals and services are used for connection is no longer the focus. The real focus is the meaning of connection. Blockchain can help us build trust, a new-generation IoT ecology where software and hardware interconnects, chains integrate in a network, data is shared, query and validation becomes cross-domain and value is transmitted. Here data is the core, equipment is the framework, network is the bond and value is the fabric.

Therefore, the vision of Waltonchain is to lead humanity to the reliable digital life via blockchain, realize the consensus, co-governance, co-sharing and co-integration of IoT data and services in the information era.

How is WTC used?

In the Waltonchain system, you have to be a stake holder to participate in the service, use it or provide it to others. The service is data-centered. Being a stake holder means you have to hold WTC. Only the holders can contribute data to the system via uploading it to blockchain and exchange data with value for more value. We think data equals to value; and WTC is the carrier and reputation of value. With the continuous growth of the Waltonchain ecosystem, more businesses will join it. A large amount of WTC will be consumed for packaging the parent and child-chain data. The demand for WTC will continue to increase, accordingly. WTC is the only parent-chain token of the whole business ecosystem. Any data and asset exchange across child chains needs to consume parent-chain tokens. When the ecosystem is formed, cross-chain data interaction becomes highly frequent. Then business demand for WTC will increase continuously.

What are the core technological advantages and innovations of Waltonchain?

Our technical advantages:

1. High safety;

2. Real traceability;

3. True anti-counterfeiting;

4. Decentralization and complete credibility;

5. Labor cost reduction.

Innovations:

1. Introduction of the VIoT concept to seamlessly integrate blockchain with the IoT;

2. The original cross-chain mechanism for Waltonchain data sharing in all walks of life;

3. The Chain Cluster concept.

How to get WTC?

WTC has been listed on such international exchanges as Binance, Huobi, Bithumb, OKEX and Bitfinex.

You can also mine WTC. Please visit our official website to download WTC Wallet and start mining in one click.

What are the advantages and unique features of Waltonchain compared with other blockchain projects?

Waltonchain white paper describes a vast ecosystem which provides access to numerous child chains, traceability and decentralization of products and information in different industries, and solves the problem of information islands in the Internet and even the Internet of Things industry.

Waltonchain has proposed technological innovations such as chain cluster, WPoC and PoL. Our R&D team has a thorough understanding of the current blockchain technology; therefore we have good chances to realize this project vision.

With the ecosystem growth, Waltonchain will become a parent-child chain system similar to Ethereum smart contracts and cover most of the world’s industries. Waltonchain and its child chains have great value.

Waltonchain develops quite fast in application implementation. How will ordinary people benefit from these solutions?

Currently, blockchain is still in a relatively early stage. Blockchain 1.0 was mainly digital currencies serving as a payment method. Stage 2.0 was the application of commercial clauses in Ethereum smart contracts and digital agreements. Now blockchain is in stage 3.0 with Internet of Things applications. Pure software blockchain projects face application difficulties, because they are mostly limited to financial cases, such as auditing, billing, taxation and banking. Although they can store and simplify data in a distributed way, they still need hardware support to apply to the real economy. Waltonchain is a solution integrating software and hardware.

As to how we, ordinary people, benefit in agriculture and medical care, take Wuchang rice for example. Visualized information about origin, cultivation, harvesting place, including rice circulation up to retail sale to customers, is stored on blockchain and can be monitored through our system to ensure the information flow is true. You can scan a code or use our app to see all product information from source to end. The same applies to liquor, medical care, luxury industry etc. We record production, circulation, transportation etc. information on blockchain, can trace the problem origin quickly, know the responsible person at once, and thus solve trust issues.

What are the improvements of the new white paper compared to the old one?

Waltonchain white paper describes a vast ecosystem which provides access to numerous child chains, traceability and decentralization of products and information in different industries, and solves the problem of information islands in the Internet and even the Internet of Things industry.

Waltonchain has proposed technological innovations such as chain cluster, WPoC and PoL. Our R&D team has a thorough understanding of the current blockchain technology; therefore we have good chances to realize this project vision.

With the ecosystem growth, Waltonchain will become a parent-child chain system similar to Ethereum smart contracts and cover most of the world’s industries. Waltonchain and its child chains have great value.

How does the Waltonchain RFID chip prevent data tampering from the source?

Waltonchain has developed an RFID chip design with hash-and-signature-based data self-verification. On the reader-writer side, hash computing ensures data entry tamper protection, completeness and accuracy. RFID reader-writer and chip two-way authentication ensures that the reader-writer operations on the chip are undeniable and that a reader-writer can operate the chip, thus avoiding impersonation, tampering and reading/writing denial.

Can each RFID chip serve as a blockchain node for mining accounting?
If a child chain has specific requirements, each RFID chip can be embedded into a terminal device to serve as a child chain node. When the RFID chip collects information of the physical world, it can be immediately uploaded to child chain blocks for accounting.
Does Waltonchain have patents for chips?
You can find our multiple patents on the China and Global Patent Examination Information Inquiry system’s website using the 思力科 input (Chinese for “Silictec”).
Is the Waltonchain chip only label-shaped? Are there any other form factors?
The label is just the outer case of the chip. The case can have any shape. We can even mount the chip inside of sensors.
When is the RFID chip tapeout? When will mass production start?
RFID chip tapeout has started. Mass production is expected to start in Q1 2019.
When mass produced, what will be the cost of Waltonchain RFID chip?

Target cost after mass production starts is $0.05 for a chip.

What are the advantages of Waltonchain miner chip compared with other products in the market?

Waltonchain miner chip is best suitable for the basic Waltonchain algorithm and has higher efficiency compared with other existing miners.

What are the advantages of adding hardware to Waltonchain compared with other blockchain projects?

The existing blockchain applications mostly adopt software solutions and lack hardware support. Although the blockchain technology can guarantee data tamper protection, openness and transparency, because of the lack of hardware support the existing application schemes cannot guarantee authenticity and reliability of data sources. The key feature of Waltonchain is implementation of a blockchain hardware system ensuring that data is authentic and reliable from the source.

Does Waltonchain RFID reader consume WTC every time RFID chip being scanned?

Generally, WTC is not consumed every time a chip is scanned. Still, WTC is consumed when an end user queries data on a certain child chain of the Waltonchain ecosystem.

What are the advantages of Waltonchain's hardware system in the IoT field?

In the existing network layers, interface protocols are not unified. Due to commercial, technical or historical reasons, various IoT standards are inconsistent, which may lead to resource wasting and interoperability problems. The Waltonchain hardware system is a blockchain hardware system with independent intellectual property rights. It is compatible with mainstream IoT communication interfaces and adopts the hardware asymmetric encryption technology to ensure data security and prevent attacks. Compatible IoT transmission standards include 5G, NB-IoT, LoRa, ZigBee, PLC and other common interfaces.

How exactly does PoL work?
“Labor” in PoL is different from the existing “Work” or “Stake”; this consensus mechanism is more practical. “Labor” represents the actual tasks completed, the amount of data uploaded and the number of transactions confirmed. Compared with pure comparative power (PoW) or coin holdings (PoS), PoL pays more attention to the real cross-chain contribution, the contribution to others in the real world. We believe that such a mechanism will promote usage of mining and cross-chain data. Such a mechanism encourages more people to participate in the Waltonchain ecosystem. In addition to the PoW and PoS incentives, cross-chain nodes also have child chain token incentives. The Waltonchain mainnet consensus mechanism is PoL + PoS. Every miner who operates on the mainnet has already used this combined mechanism. Its basic algorithm has been released on the official Waltonchain Twitter.
What is the core focus of Waltonchain right now?
We are focusing on the development of our child chain applications and blockchain industry standardization. We participate in blockchain standardization on the national level and are committed to ensure that our foundation is properly laid out by setting high standards, developing and committing to the National Trade and Industry practices. For example, the signing of a partnership agreement with KSA, a public entity under the South Korea’s Ministry of Trade, Industry and Energy, and recent participation in national standardization of the blockchain technology in China complies with the industry development of both China and Korea and serves as a benchmark for others. This in return builds trust in our brand. This regulatory framework will also build confidence among all our existing and future clients. We believe that the strength of a tree lies in its roots and not in its branches. A tree must develop deep roots in order to grow strong and produce its beauty.
Will the network get congested or blocked if someone launches a ‘Crypto Kitties’ type dApp?
Any blockchain network will be congested if its users are willing to spend high fees on high-frequency and large-scale transactions. However, after the Waltonchain starts operation as a public chain and independently developed user applications (such as CryptoKitties) and the applications that Waltonchain will launch itself will run on the Waltonchain, we can ensure that the applications launched by Waltonchain itself will not have any congestion problems.
What is the highest observed TPS on a single chain and across all the functioning parent and child chains combined?
Currently, while performing transactions, the transaction rate is similar to that of Ethereum. During experiments with data management and data query verification on child chains, the speed reached one hundred transactions per second. In the future, as the size of the network and the number of nodes change, we will continue to optimize the technology.
Can child chains act as private, independent chains without compromising their data or security? To what extent can child chains be open anonymously? Will the Waltonchain blockchain be open to anyone?
Child chains are industry-oriented and application-oriented. They are not necessarily public chains. Child chain openness depends on the data owners’ desire. Waltonchain parent chain is a public chain open to anyone.
As child chains can use any consensus mechanism, could a child chain be based on (for example) Stellar ledger or even non-blockchain platforms (DAG) such as IOTA?

Child chains can use any networking technologies and consensus mechanisms. At present, implementation-oriented R&D and applications have been tested using the architecture and mechanisms similar to those of Bitcoin and Hyperledger.

Do you anticipate any challenges scaling the Waltonchain transaction fee structure to the hundreds of millions of microtransactions that may occur on a daily basis?

The Waltonchain transaction fee is to encourage and compensate accounting nodes. In addition to the reward mechanism such as the one for Master Nodes, we will continue trying different compensation measures in the future. We will not rely on transaction fee only.

Can you estimate roughly how long each mining phase will last (CPU, GPU, ASIC)?

We will continue to support the use of CPUs and GPUs even after the introduction of dedicated ASICs. The speed and penetration of ASICs will determine the CPU/GPU mining rewards.

What Waltonchain tech is used in the Dongdaemun project?

Dongdaemun Fashion Town will not only use Waltonchain’s RFID chips. Waltonchain will provide a complete set of blockchain + IoT hardware devices; and our partner will utilize Waltonchain’s underlying blockchain technology to solve many key problems of the clothing/fashion industry, including logistics, sales, data tracking, anti-counterfeiting, automatic data access, etc. This is just the first step of the cooperation with DDM. Waltonchain will develop blockchain applications for the clothing industry together with DDM in an effort to upgrade the clothing industry with technology, to reduce cost in every process, to better manage data and increase sales.

Clothing/fashion industry is an important part of Waltonchain’s ecosystem and any of its progress will be beneficial for the development of Waltonchain’s brand awareness, its ecosystem, and also for all its token holders in the long term.

What industries can Waltonchain be used in? Where has it been implemented already?
Waltonchain project quickly links all offline circulation data of physical goods for circulation traceability and monitoring of each commodity. Waltonchain will be used by product manufacturers for smart packaging and product traceability customization. At present, Waltonchain has solutions for clothing, logistics, food, medicine, luxury goods and also expands to other industries.
Why do I need to build a child chain on the Waltonchain?
Nowadays, public chains have become a trend. Only when a single or multiple chains are connected to the public “chain cluster” ecosystem, the connection becomes effective. As a public chain, Waltonchain not only connects single chains, but also realizes secondary transmission and integration of data value through the parent-child and child-child chain value exchange. As the first public chain in the industry to advocate for such data value norms, Waltonchain will bring child chains of many industries together to form a huge and sustainable business ecosystem where data generated by child chains can be exchanged, traded and queried to maximize data value.
How many public child chains has Waltonchain developed? How many more do you plan to develop?
Currently, Waltonchain has three public child chains: Freyrchain, FashionET and Moneynet. In theory, Waltonchain ecosystem allows to connect an infinite number of child chains. We will provide prototype child chains with different architectures for various scenarios as data application templates. The purpose is to help users or enterprises quickly build child chains, regardless of whether they have experience in blockchain development. At the same time, child chains provide quick access to the interface and functions of the Waltonchain parent chain and serve for the child chain ecosystem derivation and expansion.
What parts of the supply chain can Waltonchain be applied to?
Waltonchain products include blockchain system and DApp development, alliance chain development, exchange platform system development, etc. We develop corresponding solutions and supporting hardware and software according to the business needs in the production, packaging, transportation, retail and other links to realize product blockchain traceability.
How does Waltonchain achieve traceability?
When the Waltonchain system is applied to an enterprise product line, the general data structure describing the product production cycle information is efficiently written to blockchain. Compilability provides customized data structure design for different product types. With RFID identification, authenticity and reliability of the data uploaded to blockchain is ensured. We cover raw material procurement, product production, assembly, packaging and inventory management operations. Due to the openness and transparency of blockchain, the source of raw materials, production and product quality can be identified and the quality problem source can be traced. We eliminate the possibility of product forgery, break the information barriers and fundamentally protect the interests of consumers. At the same time, standardized and reliable recording of production business process information through blockchain will provide low-cost data information solutions for product manufacturers and realize smart management.
What services or products can Waltonchain provide for enterprises?

The Waltonchain team has been committed to establishing a reliable, credible, scalable and transferable VIoT ecosystem, and strives to make Waltonchain an integrated data collection equipment manufacturer, data communication researcher and developer, and data service provider.

At present, we have smart RFID reader-writer with independent intellectual property rights, which can collect data, process it and upload to blockchain automatically. We also developed a smart data collecting device with independent intellectual property rights, which automatically collects, processes and uploads various sensor data, audio and video, location information, etc. to blockchain.

According to the requirements of different enterprises, we will provide a complete set of blockchain application systems based on the Waltonchain blockchain technology and corresponding hardware for product traceability, authentication, smart management etc.

If our company wants to cooperate with Waltonchain, how do we contact you?
Please send a general cooperation proposal to business@waltonchain.org to let our BD personnel make a preliminarily analysis. We will take the initiative to discuss the cooperation scope.
What exchanges is Waltoncoin traded on right now? Are there plans for more exchanges?
Waltoncoin has been listed by several mainstream exchanges: Binance, Huobi, OKEX and Bitfinex. We will continue to add up well-known exchanges such as Bittrex and Coinbase. If you cooperate with exchanges on listing, you can contact business@waltonchain.org.
Does Waltonchain have a detailed promotion plan for the western market?
We are discussing expansion of our media channels, brand awareness building and overseas investments with top western marketing companies. Our consultants are experts in blockchain and cryptocurrency. We would like to cover advanced investors, business-related publishers and the greater cryptocurrency area, and invest in B2B and B2C segments. This is Waltonchain’s first attempt to attract retail and institutional investors, as well as new business prospects from the West. We want to share Waltonchain’s global vision and leading blockchain + IoT solutions.
How can Waltonchain help my business grow in the shortest time?
First, we need to provide a corresponding solution according to your business status and needs. The ultimate goal of Waltonchain is to improve the supply chain management capabilities of different industries and reduce their management costs through our blockchain + IoT technology.
Where are the headquarters of Waltonchain? Can we visit?
The headquarters of Waltonchain are in Nanshan District of Shenzhen City. We welcome all guests to visit. Contact us and we will arrange personnel to receive the visitors.
What enterprises can cooperate with Waltonchain?

Our partners are diversified. If an enterprise needs to upgrade its existing business with blockchain, it can discuss cooperation opportunities with us. Cryptocurrency exchanges, media and shopping malls can also reach out to us.

What are the benefits of SMN? How to become SMN?

On July 13, 2018, we released Waltonchain Super Master Node Recruitment Program; please refer to our official website or Twitter. If you want to know more details, feel free to contact smn@waltonchain.org.

Note: SMN application period ended before January 1, 2019.

If I recommend cooperation with Waltonchain to an enterprise, what benefits can I get?

In order to encourage everyone to actively recommend cooperation with Waltonchain to enterprises, and to promote the Waltonchain ecosystem development, we set up Waltonchain Outstanding Contributor Reward Program and give rewards to those who made a successful reference. Please refer to our official website or Twitter for details.

Are there regional representatives of Waltonchain? How to become one?

We do not officially authorize regional representatives. The future goal of Waltonchain is to expand our market to the whole world. In the future, we will select qualified candidates to represent Waltonchain on summits, build communities and even discuss cooperation on behalf of Waltonchain.

If I am a major investor, can I purchase the shares of Waltonchain and become a shareholder?

Waltonchain will not sell company shares. If you want to invest in Waltonchain, you can choose to become a node on our mainnet (currently, Master Nodes are available).

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