About Waltonchain (WTC)weiss-badge

Overview

Walton (WTC) has a name which stands for "Wisdom alters label, trade, organisation, and network" - and a purpose of which all exists to create a business ecosystem. It's a business ecosystem coin that all came about through the invention of RFID by Charles Walton in the 20th Century. In honour of this man, WTC was set up to attempt to make the world (at least the business world) far better connected.   While RFID has been around since the 20th Century, the coin itself came into existence in November 2016, in commemoration of the fifth anniversary of the late Mr Walton's passing. Development of the currency has involved things like creating proprietary RFID tags and adopting asymmetric encryption algorithms - and this was all implemented to create the ideal partnership of blockchain and I.o.T (Internet of Things). Future usage aims to work towards retail, clothing and other related industries; and in phase 3.0, it looks like Waltonchain (the full name for Walton) is seeking to be involved in the tracking and registration of products and packages themselves, which makes sense in regards to where RFID tech is concerned. It's there to be a far more efficient and reliable alternative to what currently occurs in supply-chain management.

Technology

Waltonchain differs from other RFID-based coins in the market, such as Vechain and Wabi. For these coins, the collection of data from the outside world is first fed through the company's API and internal applications before being recorded on the blockchain. This means all data passes through a centralised entity, and therefore, data is controlled by the centralised body and cannot be fully trustless.   Waltonchain does things differently. They have produced RFID chips that write directly to the blockchain, bypassing API's and internal applications. This creates a fully decentralised, trustless system, which in turn ensures the ID of the tag is connected to the object it is integrated with, meaning the data is 100% reliable.

Future Focus

Waltonchain aims to offer the business world an alternative to what it has at present - a combination of both human and machine-based management of goods and services. Looking forward, Waltonchain aims to connect the business world by focussing on the adoption of their RFID chips. For more information regarding Waltonchain visit the official website or read over their Whitepaper.

A wallet is essentially a bank account for your cryptocurrency and the wallet address is like your account number. The sender of the cryptocurrency needs a wallet address so they have somewhere they can send it from their wallet, much like a bank transfer. This wallet is giving you access to the blockchain where you can view your balance, send and receive cryptocurrency.

For information please read our beginners guide to cryptocurrency wallets.

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Storing your coins with Wallets

A wallet is essentially a bank account for your cryptocurrency and the wallet address is like your account number. The sender of the cryptocurrency needs a wallet address so they have somewhere they can send it from their wallet, much like a bank transfer. This wallet is giving you access to the blockchain where you can view your balance, send and receive cryptocurrency.

For information please read our beginners guide to cryptocurrency wallets.

Pay with POLI. Its fast!

POLI - internet bankingPOLI is secure and fast. It links directly to your internet banking – login with your normal details and the rest is easy. No extra fees or surcharges. Watch this short video to see how it works.

About Bitcoin

Bitcoin (BTC) is a form of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds. Transactions are stored on a distributed, immutable, online, public ledger known as a blockchain. Bitcoin was the first truly decentralised cryptocurrency which was created by a programmer under the pseudonym Satoshi Nakamoto and was released in 2009. The system is peer-to-peer, verified by network nodes and recorded in a public distributed ledger called the blockchain. Bitcoin can be exchanged for other currencies, products, and services with over 100,000 merchants and vendors accepting bitcoin as payment. Bitcoin can also be held as an investment. There are only a fixed number of Bitcoin will ever be mined (21 million), it’s not controlled by any one government or central bank, and there’s no such thing as quantitative easing or fractional reserve banking. These qualities make Bitcoin excellent as a store of value and a long-term safe-haven asset, similar to gold.

A Bitcoin success story that went viral on social media is Kristoffer Koch from Norway. Koch invested around $27 in Bitcoin in 2009 and then forgot about it for four years. He remembered about his Bitcoin wallet in 2013, which had then grown in value to $886,000.

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