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What is Waltonchain coin? Explained.

The Waltonchain coin initiated its operations in 2015, unofficially by the founders. Buy the actual existence of Waltonchain
The Waltonchain coin initiated its operations in 2015, unofficially by the founders. Buy the actual existence of Waltonchain coin was on the year 2017.

Understanding the working mechanism of the Waltonchain coin.

Introduction to the Blockchain world

The cryptocurrencies as well as Blockchain Technology, together is revolutionizing the overall advancements within the financial as well as the non-financial domains. Blockchain Technology especially with its distributed ledger as well as amazing consensus mechanism incorporates security and most importantly Trust within the ecosystem. It is self-evident from the cryptocurrencies like Augur which provides a Decentralized prediction Marketplace and Basic Attention Token which tries to create a balance within the advertising industry. The Waltonchain coin is also one among them which brings the vision of Blockchain integration with Supply Chain Management to life. Let’s read about Waltonchain coin and its uses.

The Waltonchain coin

The Waltonchain coin initiated its operations in 2015, unofficially by the founders. Buy the actual existence of Waltonchain coin was on the year 2017. The Waltonchain coin mainly aims to achieve two of its prominent goals. The first one being, to improve the Supply Chain Management by introducing a collaboration between the RFID as well as the Blockchain technology. The second most prominent goal of Waltonchain coin project is to integrate two of the best Technologies that exist today, that is the Internet Of Things as well as Blockchain technology in order to create which they call it as Value Internet Of Things. Both of these roadmaps are expected to be achieved through Waltonchain masternode as well as Guardian Masternode.

The Waltonchain coin Masternodes

The Waltonchain master node is specifically designed to control various functional features of the entire Blockchain. It is basically nothing but a series of nodes which covers the entire blockchain. The Waltonchain coin Masternodes proves to be highly useful in validating the transactions, providing security to the whole Network, and governing the entire blockchain at difficult times. As the Waltonchain coin masternodes have so much workload, an initial Collateral needs to be provided during the initial stages by the community members for its development and maintenance.

How does the Waltonchain coin blockchain work for supply chain management?

As mentioned earlier, that the Waltonchain coin aims to revolutionize the Supply Chain Management, the entire Blockchain tracks the shipment of the product from its production to the final stages.

  1. At the production stage, with the RFID Technology, the masternodes keep track of the product.
  2. When the product reaches the warehouse another RFID tag is utilized by the Waltonchain coin masternodes.
  3. At the next step, when transportation occurs, once again the masternodes come into the picture, in order to keep track of it.
  4. Finally, when the product reaches the end of retail stores, the customer information along with their preferences for the products are recorded by the Waltonchain coin blockchain.

It is to be kept in mind that, at each of the four stages of the product, a new block is generated by the Waltonchain coin masternodes and is added to the previous block. This helps to create a detailed history of all the transactions.

Benefits of Waltonchain coin

The Waltonchain blockchain platform effectively eliminates most of the problems that the distributors, as well as the retailers,  face, during the entire process of Supply Chain Management. However, the blocks that are generated at each step of the Waltonchain coin tracking the particular product can be viewed by a specific number of users this feature enables the Waltonchain coin blockchain in order to be both public and private at the same time. The entire market, until now had not foreseen such an intuitive application provided by the Waltonchain coin Blockchain platform.

How the Waltonchain coin, actually improves scalability?

The inherent design of the Waltonchain coin’s blockchain platform can be assumed to be derived from Ethereum as well as DASH i.e Smart contracts and POW X11 respectively. The Blockchain service provided by the Waltonchain coin is highly unique in nature, as it is split up into the Parent chain as well as the Child chain. Interestingly, in order to provide scalability for the Waltonchain coin blockchain platform, the number of Child chains can theoretically be infinite in number. This particular attribute, of the creation of Child chains, enables the industries from various domains to incorporate these child chains and modify them according to their working paradigm.

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