Walton is a blockchain-based project that makes use of Radio Frequency IDentification (RFID) in order to enable the Internet of Things (IoT). The Internet of Things refers to an environment in which a user can seamlessly switch between multiple physical devices, all of which are connected to the Internet. Each time a user changes devices, identification is required in order to ensure data security. The Walton project aims to improve the identification resolution part of the Internet of Things ecosystem.
What is WaltonChain?
WaltonChain is the name of the blockchain used by the Walton platform. Charlie Walton, who was the pioneer in the development of RFID, is the namesake for this platform. This was developed in order to make logistics easier across international borders, especially along the old Silk Route. Waltonchain is the primary chain or parent chain in the Walton Ecosystem. What this means is that, all the other chains that come up within the ecosystem are/will be sub-chains of the main chain. Therefore, all users can create only sub-chains in the ecosystem. The advantage that this provides is that the sub-chains have some level of independence for the users. They do not have to tie themselves to the protocols used in the parent chain. The main currency of this ecosystem is the WaltonCoin (WTC).
Where to buy WaltonChain?
The easiest way to buy the WaltonCoin as with all other lesser-known but nevertheless important currencies is to buy a cryptocurrency and then exchange it for WTC. A person can either buy Bitcoin or Ether and then use a coin exchange site like KuCoin to exchange the those coins for WTC.
The wallet used by the WTC is, quite unsurprisingly, WTC wallet. This wallet can store only WTC. Therefore, it is advised that a person who wishes to transfer Ethereum or Bitcoin to that wallet first convert the coins into WTC and then transfer them to that wallet. Doing otherwise could result in a loss of assets for the person. In order to access a WTC wallet, a person has to first create a wallet and then use a private Key. This private Key will provide access to the wallet as and when the user wishes to obtain and make use of such access. Then, the person can begin sending WTC. The wallet is available for Windows users.
The genesis block or the initial opening block of the ecosystem helped issue 100 million WTC. It is said that no more WTC will be created. In the genesis block, about 70 million WTC were released while the rest will be released over the course of time through mining. The mining process can take place using a GPU or a Graphics Processing Unit. This can be done on a Windows computer. There is also a reward program through which users are rewarded with WTC for making more use of the ecosystem to exchange the coins.
Walton Price Trends
As of late April 2018, one WTC was worth about $16.50 (USD). This is an approximate value that is subject to market changes. The WTC experienced a period of steady growth beginning September 2017. This continued till January 2018 at the end of which prices peaked. This growth in prices corresponded to investor interest in cryptocurrencies. The peak value reflected the trading scenario at that particular point. The price declined beginning February 2018, slowly gaining again in April 2018. A table with the historical price trends is presented here:
Risks associated with WTC
Even though WTC is regarded highly and the WaltonChain has a number of applications, it is not considered advisable to invest too much money into it. This is because, at the end of the day, WTC is a cryptocurrency. Like all cryptocurrencies, it also utilises blockchain technology that makes it secure and it is also decentralised. This causes it to be a target for governments that seek to ban or restrict the usage of such virtual currencies. If this happens, then the investor will lose their investment. Instead, it is recommended that the investor choose trusted and well-performing mutual funds in which they can invest. This way, the risk associated with cryptocurrencies is reduced.
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