The WaltonChain Walton Chain (WTC) project is named to commemorate Charlie Walton, the great inventor of RFID technology. The centralization problem faced in the development process, based on the principle of cryptography, with the help of distributed point-to-point network, realizes the permanent storage of orderly transaction records, which cannot be deleted and tampered with, and is open and traceable, which can perfectly solve the trust and rights issue. Waltonchain will build a business ecological chain that perfectly combines the real world and the blockchain, leading human beings to fully enter a reliable digital life, and creating a new era of the value Internet of Things.

1. Project introduction

Waltonchain is a low-level commercial ecological public chain. As the leader of blockchain IoT, Waltonchain uniquely combines blockchain technology with RFID technology. On this chain, merchants can establish various sub-chains according to their own needs, and monitor the entire process of production, logistics, warehousing, and retail circulation of all commodities. As a typical commercial ecological chain, Waltonchain's main feature is to ensure that all data (including property ownership data, commodity circulation data, etc.) are authentic and credible. Through the self-developed card reader chip and tag chip, all the data of offline physical goods in the circulation process can be automatically and quickly uploaded to the chain, avoiding human interference, and minimizing the possibility of data tampering, thus creating a fair and transparent , Traceable, authentic and credible new generation business ecosystem.

Application scenario

Waltonchain introduces blockchain technology into the Internet of Things, trying to solve the problems caused by centralization in the development of the Internet of Things with a brand-new idea:
Data verification: the Internet of Everything Under normal circumstances, the transformed IoT device will become a node that generates data, and the generation of these data is often massive, polymorphic, time-varying, and scattered. Therefore, enterprises are also faced with the dilemma of lacking precise tools to process data. Through data tags, Waltonchain integrates and packages massive data and performs fingerprint extraction and verification, thereby solving the data verification problem in the Internet of Things industry.
Data query: Under the multi-chain and cross-chain ecology of Waltonchain, through the combination of data vertically and horizontally, and the professional allocation of modules, each sub-chain can accurately store its own data and upload it to The big ecology of the mother chain realizes cross-chain query.
Data sharing: Although the "decentralized" data sharing claimed by the blockchain is a sensitive behavior in many business fields, in the field of the Internet of Things, the transparent and open processing of data by the blockchain can easily The communication cost, analysis process and storage cost of data are well reduced, and the differentiated processing and sharing of data is realized.
Data backup: Due to the immutable distributed ledger records of the blockchain, the blockchain + Internet of Things not only effectively realizes data backup, but also increases the cost of data falsification.

Technical Overview

Waltonchain has its own main chain (parent chain), and is also extending and developing around the parent chain, not only browsers, clients, management tools, etc., but also core hardware devices.
Facing the Internet of Things or ecological network, and all the data that can be obtained, sensed and processed, Waltonchain mainly does two things: the first is to ensure that the data is credible; the second is to ensure that the data value circulation. And redefines the architecture of the Waltonchain ecological network, which is divided into six layers: equipment layer, base layer, core layer, extension layer, service layer and application layer:
Hardware Design—Equipment Layer
Existing Area Blockchain applications lack hardware support, and most of them use software solutions. Although blockchain technology can ensure that data cannot be tampered with and is open and transparent, the existing application solutions lack hardware support and cannot guarantee that the data source is authentic and reliable. A major feature of Waltonchain is the implementation of a blockchain hardware system to ensure that data is authentic and reliable from the source.
Walton (parent) chain - core layer and extension layer
Usually the data of the blockchain-Internet of Things ecology is a single ecology, and the ecological areas are separated from each other, and different fields build themselves around their own data Data ecology, or build your own blockchain architecture, and even chains use different structures and different technical systems. The first task of Waltonchain is to connect data. The integration of software and hardware, data customization contract mode, cross-chain technology, and Walton WPoC consensus mechanism are used to realize the integrated circulation, verification and storage of data between different blockchains (sub-chains). It can realize the connection of different data sources and realize the extensive flow of data.
Smart contracts that support data customization
The smart contract language supported by Waltonchain is also Turing complete. However, due to the operation mechanism of the blockchain, even if the operation of the smart contract is abnormal, it will run independently and repeatedly on all blockchain nodes. Therefore, running smart contracts on the Walton main chain or sub-chain (consortium chain) is a very expensive operation (computing resources, storage resources).
For application users or enterprises, they are more concerned about what data format is used? Where is it stored? How can this data be obtained? Does it consume fuel (GAS)?
In this regard, Waltonchain has established a set of unique data smart contract mode (Data Pattern for SmartContract), centering on the business event drive as the origin, keeping the logic of the smart contract language with data features as simple as possible and reducing calculations According to the characteristics of fuel consumption, many operations (such as data reading, event triggering, etc.) are standardized, and the data is output in a standard format (such as Json format), and these smart contracts can be reused and inherited.
Gradually realize data consistency, standardization, accessibility and circulation in the Walton value blockchain ecosystem:
Consistency: the core of consistency lies in consensus, due to the massive data in the ecological field of the Internet of Things , There are different cognitive problems among the data of different industries, equipment, and attributes. Therefore, the unique mechanism setting of blockchain solves the problem of data consistency.
· Normativeness: The diversification of data leads to the lack of standard or uniformity of data, but the basic condition for the establishment of uniformity actually lies in the circulation of data. Only when data can be circulated on more levels can data establish its normativeness in social networks.
Accessibility: The circulation of data also has its value, and its value lies in its usability. Only when more people can access data in different environments and equipment conditions can data realize its true value.
Circulation: Data is like scattered beads, and the space of existence is fragmented. Only by sorting and combining these scattered data can they truly realize or even develop their value, thus completing social networks. The process of trading and exchanging.
Sub-chain Data Application Template
WaltonNet Chain supports smart contracts for the currently popular blockchain types, such as Fabric, Ethereum, etc., so it provides different architectures and quick construction of sub-chains for different scenarios The prototype sub-chains are respectively used as data application templates. The purpose is to help users or enterprises quickly build sub-chains, regardless of whether users or enterprises have experience in blockchain development. The interface and functions of the Waltonchain realize the ability of Waltonchain’s ecological sub-chain derivation and expansion.
Chain Group
Only when multiple chains are effectively connected can they gradually form a group state. "Chain group" is a natural derivative of the huge ecology of the public chain. The public chain can carry countless sub-chains through a hierarchical structure. Under this theory, when this "data value machine" like an aircraft carrier becomes larger and larger, data circulation must seek its normativeness. On the basis of this specification, "chain groups" will inevitably emerge. Between different "chain groups", the secondary dissemination and integration of data value can be realized, and the exchange and query will be realized more efficiently between cross-chains.
Waltonchain is the first public chain in the industry to advocate and recommend such data value norms. On this public chain, sub-chains of multiple industries will also be carried to form a huge and healthy business ecology. In this business ecological environment, data generated between different sub-chains can be exchanged, traded, queried, etc. For different sub-chain ecologies, there must be some overlap between the data. Based on this, with the circulation, exchange and integration of data in the ecological environment, the division of "chain groups" will inevitably appear in the ecology. These "chain groups" realize the secondary reorganization of value under the large ecology of Waltonchain, thus further enriching the ecological order of the entire Waltonchain.

Two. Comment

Waltonchain uniquely combines blockchain technology and RFID technology, and is committed to promoting the integration of blockchain technology from the Internet to the Internet of Things and realizing the concept of the Internet of Value. The purpose of Waltonchain is to build a bottom-level commercial ecological public chain. On this chain, merchants can build various sub-chains according to their own needs. The main feature of this commercial ecological chain is that all data (including property ownership data, commodity circulation data, etc.) are authentic and credible, cannot be tampered with, and have time stamps, so that an honest, authentic and reliable business ecosystem can be established.
The team intends to use the self-developed card reader chip and tag chip to realize the purpose of automatically and quickly uploading all the data of offline physical goods during the circulation process. Avoiding human interference minimizes the possibility of data tampering. In this way, there is a way to realize the traceability and monitoring of the circulation status of each commodity.
In the Waltonchain ecosystem, the core parent chain is called Waltonchain, and the token used for circulation and payment is called Waltoncoin (hereinafter referred to as WTC). In the entire Waltonchain project system, WTC plays an important role. key core role.
The significance of Waltoncoin's existence: First, by rewarding WTC, encouraging nodes to keep accounts, and supporting the reliable operation of various functions of the parent chain network; when various industry applications create sub-chains, they need to consume WTC and save a part of WTC to provide credit guarantee; And through our core technology, we can realize the reward mechanism for sub-chain application data contributors; Waltonchain Unicom connects the value data of various commercial applications, and the payment system of the upper application based on these value data can be based on WTC. To sum up, with the development of the number and scale of sub-chains in various industries, the demand for WTC applications will continue to increase, promoting appreciation.
Waltoncoin's technological innovation: Waltonchain is the first to introduce the concept of the value Internet of Things, combining blockchain technology with RFID technology, using the characteristics of blockchain decentralization and non-tampering, combined with RFID system, to solve the problem of product traceability. Waltonchain adopts a unique dual-chain architecture design and proposes the latest cross-chain connection and confirmation mechanism. Effectively solve the problem of data exchange between the child chain and the parent chain, and the transfer of rights and interests. A hybrid consensus mechanism based on the combination of PoS+PoW is adopted.

Related Links:

https://www.waltonchain.org/ct/
https://info.binance.com/cn/currencies/walton
http://www.qukuaiwang.com.cn /szhb/2180.html###
https://www.qklw.com/coin/WTC.html