Named after Charles Walton, the man who came up with the idea of patenting the RFID in the not so far 1983, Waltonchain is one of those coins that you should keep your eye on. In case you have just heard of this coin it might be a little late to plan on getting big money for a couple of dimes as Waltonchain has already reached a price of a bit over 30$ per one unit, which is a great success for any coin.
Remember when Bitcoin was only around 30$? Maybe you do, and maybe you don’t, but with this philosophy, any coin, especially those that are progressing as fast and steadily as Waltonchain is can quickly become the “next Bitcoin.” So, what we are probably the most interested in is what exactly Waltonchain stands for and if this coin will continue to perform so well on the crypto market.
What is Waltonchain and why should we appreciate this coin?
First, we need to take some of your time to explain what RFID is, in case you are not familiar with this term, as this technology is closely related to the idea behind Waltonchain.
Charles Walton patented RFID technology with the idea of having a simple process that would enable a true merging of digital value with a real-life physical object. This would be made possible by using the electromagnetic fields within RFID technology along with using microchips that would be connected to the objects being used for merging. Sounds familiar?
If you have heard of the Internet of Things, otherwise known as IoT, then you must have spotted a genuine similarity between these two technologies. The only difference between the two technologies is that the Internet of Things is more advanced as it is closely related to blockchain technology – the latest craze everyone is talking about.
The primary purpose behind Waltonchain is then to create an amazingly attractive and primarily functional business ecosystem that runs on blockchain technology with integrated IoT. The developers are even using RFID technology, taking this old system to a new level to improve their ecosystem and make it more functional. Its purpose is to make data sharing, transactions, sharing information, distributing products and services, creating new business ventures and operating with Waltonchain tokens.
The ecosystem is called Walton, and it represents a genuine platform that combines blockchain with the Internet of Things. Thos who are not yet familiar with the term IoT should know that the Internet of Things operates similarly to RFID.
That means that we have digital assets and values merged with physical objects to make sharing information and performing different actions more transparent, more accessible and more cost-effective. What makes Walton work efficiently with integrated IoT is the Value of Internet of Things.
Value of Internet of Things works in a way that all devices that are asking for permission to connect must be verified by the same provider. That leads to having a centralized system within the decentralized platform. So, to make all accounts and all transactions, along with all types of interaction more effective, trustworthy and safe, once the access is granted by the provider, all devices with allowed access can join the decentralized platform, reaching blockchains improved by RFID technology.
That way all transactions are made safer and all information recorded and kept transparent in the spirit of an open source technology.
Although perfectly unique, Walton ecosystem is made on the example of Ethereum’s smart contracts and DASH’s privacy type backed up with master nodes. The system works a bit differently than the original blockchain technology, so instead of having a single chain of blocks, you have side chains, which conditions the existence of child chains and parent chains.
There, anyone can create child chains while all child chains are being controlled by the parent chains, which means that the full control over child chains persist in parent chains.
It also uses the Proof of Stake and Trust system, which means that all nodes are provided with adjusted difficulty to ensure that all chains have integrity, that way making a safe and secured decentralized environment.
Waltonchain is in general made to create a more efficient market, a business ecosystem that would allow clothing industries and products with RFID technology within the Internet of Things to establish a good solid environment.
In this environment, natural business performance and fast and cheap transactions would be fully available for all members, establishing a connection between nodes, chains, products and the Internet of Things – all that supported and operated by Waltonchain.
This way, there are countless benefits planned for the clothing industry. Waltonchain and the technology behind this amazingly progressive token are made to solve slow warehouse turnovers, out-of-stock problems and problems similar to those that often happens in the process of purchasing, ordering and searching for specific clothing items and products related to the clothing industry.
As far as the value concerned, Waltonchain is currently holding the 39th spot on the global coin ranking list with the latest increase of almost 23%. In case the increases would continue at the same pace, going from and over 20%, this coin could quickly reach the price of 40$ per one coin in only a couple of weeks, starting from the current price of 31.50$ and with the presumption that there wouldn’t be any decreases in the meantime.
All in all, Waltonchain, increasing or decreasing in price, is a real gem in the sea of crypto coins and the developing blockchain technology.