Overview

Internet of Things is seen as the next big thing in making our lives truly connected. With all devices around us connected IOT can truly revolutionise the way we live and interact with objects and people around us. Walton and some of the proponents of blockchain think current centralised networks of IoT creates barriers to seemless and trustful transactions in IOT. The alternate they propose is Value Internet of Things” (VIoT) which is essentially IOT on blockchain. The Custom RFID implementation is a patent pending technology

Waltonchain has been founded by team of developers from China and Korea.

Walton chain is implemented as bunch of sidechains

Consensus mechanism used by Walton chain is a variant of POS ( Proof of stake mechanism) which developers call Proof of Stake & Trust (PoST) consensus mechanism, an updated version of the Proof of Stake (PoS) consensus mechanism.

Problem

How to incorporate physical assets and IOT into blockchains to ensure a trustless tracking and sharing of information

How Walton chain works

1. Waltonchain is architected as main chain and side chains or parent chain and child chains. In first phase only main Walton chain will be developed. In future others can develop side chains/child chains.

2. In phase 1 Walton chain will be tailored to build supply chain network intelligence for clothing supply chain see details i

First Implementation of Waltonchain

In the first phase main Waltonchain will be implemented for the Clothing supply chain. here is how this will work

1. When a Clothing products gets manufactured a unique RFID is generated for each product

2. This RFID is recored by Child node during production stages

3. All Child nodes are linked to Master node and can read information from RFID tags.

4. Master nodes update the production block on Walton chain

5. During storage of the products in ware house warehousing child nodes will provide details on inspection and location

6. During transportation of product logitics nodes will provide information on various transportation parameters

7. At the vendor side nodes capture product information as well as customer performance

Advantages of Waltonchain for Product Supply Chains

Waltonchain claims following key advantages for different product supply chains if they use Walton Technology.

1. Improved warehouse management and reduced cost

2. Higher Automation at warehouse level and logistics resulting in manpower savings

3. Automated reporting and tracking on product state , customer interactions and sale building real time intelligence.

4. Reduced wastage and overhead costs

In this way every information in the supplychain is captured and stored securely on the blockchain. Customers will be able to use Walton apps to get access to all this information and authenticity of the product in future. Customers will also be rewarded by WTC based on their consumption of Walton certified product

Coin Details

WTC is the token for Waltonchain. WTC was created as an ERC20 token for ICO purpose.

1. Total Supply of WTC : 100 million

2. WTC will be issued to subchains and will also be used for giving dividend and running loyalty programs

3. Walton coins (WTC) can be used to pay fees on Walton network.

4. In future Walton tokens can be used to purchase items from retail stores as well.