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Waltonchain (WTC)

$0.317663 (-8.34%)

CMC# Market Cap (USD) Volume (24hr) Circulating Supply NVTS Change (7d) Change (24h) Savings Per 1K
330 $22,127,200.00 $1,780,230.00 69,656,300 WTC -- -8.34% -3.53% $26.49

Exchange Pair Volume (24h) Price
Binance WTC/USDT 82,883.00 0.3129000000
HitBTC WTC/BTC 11,092.27 0.0000242700
Binance WTC/BTC 117,884.00 0.0000242000
Bithumb WTC/KRW 133,091.00 424.4000000000
Huobi Global WTC/USDT 65,347.00 0.3126000000
Huobi Global WTC/BTC 36,053.00 0.0000242100
LATOKEN WTC/BTC 313,545.00 0.0000242000
LATOKEN WTC/ETH 240,182.00 0.0007725000
P2PB2B WTC/USD 13,177.15 0.3129000000
Huobi Global WTC/ETH 50,193.00 0.0007710000
P2PB2B WTC/USDT 24,818.00 0.3129000000
Binance WTC/ETH 9,543.26 0.0007680000
Binance WTC/BNB 9,258.73 0.0104100000
KuCoin WTC/BTC 380.64 0.0000243200
P2PB2B WTC/ETH 10,006.06 0.0007760000
AlterDice WTC/ETH 12.38 0.0007780000
AlterDice WTC/BTC 83.27 0.0000240000
P2PB2B WTC/BTC 16,388.14 0.0000242000
Atomars WTC/BTC 718.59 0.0000241000
Atomars WTC/USDT 554.07 0.3137000000
Bitrue WTC/XRP 18,363.58 1.2460000000
Bitrue WTC/BTC 56,739.00 0.0000242400
Bitrue WTC/ETH 3,293.45 0.0007710000
DragonEx WTC/USDT 100,743.00 0.3147000000
Atomars WTC/ETH 134.30 0.0007730000
OKEx WTC/USDT 195,387.00 0.3110000000
OKEx WTC/BTC 159,091.00 0.0000241000
OKEx WTC/ETH 10,125.80 0.0007700000
SecondBTC WTC/BTC 11,248.15 0.0000242000
FinanceX WTC/VND 5,680.23 7,422.0000000000
Huobi Korea WTC/BTC 57.35 0.0000260700
Ethfinex WTC/USD 3.05 0.7625800000
Bitfinex WTC/USD 3.05 0.7625800000
Bitcratic WTC/ETH 12.35 2.2000000000

Background

The Waltonchain Foundation initiated the project in November, 2016 and the main net launched March 31, 2018. The project is named after Charlie Walton, the inventor of Radio Frequency Identification (RFID) technology and is also an acronym for Wisdom Alters Label Trade Organization Network. Waltonchain uses RFID to track products along the supply chain and store the accompanying data in a trust reduced public ledger. Waltonchain competes with another Chinese company, VeChain, that is looking to solve similar issues in supply chain management. Waltonchain uses an ERC-20 token WTC, that is used to create side chains, provide dividend interest and to operate as a credit instrument. These side chains can operate independently of the main chain with their own consensus mechanism to improve scalability while retaining security of the main chain. Dividends are paid to Masternodes whose main function is to validate transactions, secure the network and enable governance mechanisms. In order to operate a masternode, 5,000 WTC are needed to be posted as collateral to disincentives attacking the network. In addition to regular masternodes, there are Guardian Masternodes that provide proof-of-work to the system and then share the rewards from a separate pool of token rewards. The amount of WTC distributed to these masternodes is a function of the amount of work that is contributed, and there is a maximum of 15 Guardian Masternodes on the network. Waltonchain foundation also recruited 99 Super Master Nodes worldwide to “mobilize the global community for incubation and selection of high quality child chains.” The Foundation invested 10 million WTC to establish the Waltonchain Global Ecosystem Incubation Fund to be used for child chain incubation and Super Master Node recruiting. [1]

Technology

According to the most recent whitepaper released in 2018, Waltonchain will use a Waltonchain Proof of Contribution (WPoC) consensus mechanism which includes three different components Proof of Work, Proof of Stake and Proof of Labor. PoS and PoW function as sybil control mechanisms and prevent the risk of 51% attacks. Proof of Labor is a new consensus mechanism for data transmission and token exchange between various parent chain, child chain and cross-child-chain nodes on the Waltonchain network. This cross-chain data transmission is the extraction of hashes based on data features and storage on the parent chain making it convenient to search for and authenticate data in the Waltonchain network in the future. In addition, cross-chain token exchange occurs via a ledger based on atomic swaps and records every transaction between child chains and the parent chain. The smart contract language supported by Waltonchain is Turing complete which facilitates complex business logic and applications. However, since smart contracts will run constantly and independently on all nodes, it is expensive in terms of both computation and storage. To solve this, the Waltonchain Foundation set up the unique Data Pattern for Smart Contracts which keeps the logic simple, reduces Gas consumption, standardizes operations and provides output data in standard formats (e.g. Json). They also designed and built a number of smart contract libraries where smart contracts can be queried, invoked, and reused via the event function index. After obtaining the relevant standard data file, data interaction between an application and other child chain systems can be achieved.



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