The crypto world got to know Waltonchain and Waltoncoin (WTC) in mid-2017 during the ICO. This is a joint Chinese-Korean project established in 2016 and doing software-hardware integration: blockchain protects data from alteration while in-house hardware carrying sensors and Radio Frequency Identification (RFID) chips ensure that input data is true.
Waltonchain aims to cut data verification costs and increase labor efficiency for businesses through automation and RFID, ensure the product provenance and protect both manufacturers and customers from counterfeit. They already have working application cases, a software one with the cross-border logistics provider Huodull (huodull.com) and a software-hardware one with the agriculture product tracking blockchain ecosystem DMTC (dmtc.io).
Smart cities are their core industry, too. In 2018-2019, Waltonchain’s technical support party Xiamen ZhongChuan IoT Industry Research Institute provided equipment for two Chinese smart cities Xiong’an and Yuhang in a collaboration project with Alibaba Cloud. In 2019, Waltonchain revealed they will provide the solution for Latin America’s first and world’s largest smart blockchain city Polo Multimodal Pecém (Brazil); active development is set to start in 2020. They also promote smart city technologies in China and South Korea together with MEDIUM (not the blog but a Korean blockchain platform) and Smart C&I.
Waltonchain also boasts of its education capabilities. Supported by the Ministry of Education and the Ministry of Science and ICT of South Korea, they established Walton Blockchain Institute in Seoul and train qualified personnel in several blockchain majors for the Korean government. In 2019, it renamed to Korea Blockchain Institute while keeping Waltonchain’s Korean team in charge of all the operations. This speaks to the trust in them and the top-quality services.
At the project launch, the team announced a hybrid PoW + PoS consensus (lower mining difficulty for higher address balances). It went live on the fully functional mainnet in spring 2019. In March 2020, WTC staking started on the Waltonchain Autonomy community platform (WTA App). The team also plans to develop an IoT-targeted DAG layer in 2020.
Largest exchanges listing WTC (there are 40+, totally) have already swapped WTC tokens for coins. Right now, WTC holders can swap their ERC-20 tokens for mainnet coins 1:1 on Binance, Huobi Global and in the official WTA App. Token swap progress is over 60% already. After the switch to mainnet completes, Waltonchain will hold an airdrop for holders of 50 or more WTC off exchanges from the 1 million WTC PoS pool and start the long-awaited semiannual airdrops for GMN holders.
Waltonchain has recently released a new mobile decentralized wallet for Android and iOS. It supports the main coin WTC and the autonomous community token WTA. The wallet is compatible with any Ethereum addresses.