Xiamen IOT Partners with Taiwan Cloud Service and Zhangzhou Municipal Government

At this year’s Cross-Strait Talents and Projects Conference held in Zhangzhou, China; the focus centered around stimulating communication and prosperity between China and Taiwan. As a means to achieve this objective, the Xiamen IoT Technology Co., Ltd. (Waltonchain implementation team) partnered with the Taiwan Cloud Service Association, as well as the Zhangzhou municipal government to announce a proposed construction plan for a blockchain park within the Zhangzhou region. The project consists of many cross-strait experts within the industry and will act as a key resource for blockchain engineers.

Following this announcement, a cooperation agreement for a cross-strait blockchain incubator between the Zhangzhou High-Tech Zone (Technology Development Zone) and Xiamen IoT Technology was signed. The project will be co-developed by Xiamen IoT Technology and the Taiwan Cloud Service Association. Additional parties to the agreement include the College of Computer Science and Technology of Huaqiao University and the Chinese Association for Science and Technology among others.

According to Harry Lin, the IOT Technology CEO, “Signing a cooperation agreement on cross-strait blockchain talent bases in Zhangzhou High-Tech Zone will not only fully prove the strength of IoT Technology Co., Ltd in the blockchain industry, but also demonstrate its determination to promote the development of China’s blockchain industry. The foreseeable future will see IoT Technology definitely become the pacesetter in the blockchain industry” (Source).

A link that no doubt led to the Xiamen IoT Technology partnership with the Taiwan Cloud Service Association is Zhu Yanping, a senior advisor for the Waltonchain platform. In addition to his advisory role for Waltonchain (which IoT Technology has been tasked with implementing), Mr. Yanping is also a Chairman of the Taiwan Cloud Service Association, creating a common interest between the two companies.

For Xiamen IoT Technology and Waltonchain, the joint venture is of key importance as the Taiwan Cloud Service Association, “…involves all of the country’s major cloud computing players from government, industry, and academia, [and] has been formed to foster collaboration and integration among service providers and to coordinate domestic and international cloud computing alliances” (Source). Furthermore, the Taiwan Cloud Service Association is also in charge of providing policy-making feedback to the government and is comprised of, “…more than 150 ICT companies in Taiwan, including the three main service providers, Chung-Hwa Telecom, Taiwan Fixed Networks, and FarEasTone Telecommunications, the world’s four largest server ODM manufacturers, Inventec, Foxconn, Wistron, and Quanta, the world’s top network switch ODM manufacturers, Accton and Alpha Networks, and several international companies such as Intel, Microsoft, Cisco, NEC and Fujitsu” (Source).

One advantage of building the incubator in the Zhangzhou Hi-Tech Industry Development Zone, is the region’s strong business ties which includes, “… [an] established startup service center, professional incubations, innovation bases and complete service agencies, [and] over 1500 hi-tech enterprises” (Source).

Additional information detailing the Zhangzhou Hi-Tech Development Industry Zone:

  • 9 out of worlds top 500 enterprises have invested in the zone
  • Ranked third for five successive years among 53 national hi-tech zones in terms of per capita profit.
  • Based in a Chinese metropolis that is second in size only to Shanghai
  • Located in the most economically developed Yangtze Delta
  • Capital of Zhejiang Province
  • Only state-level Hi-tech Industry Development Zone in Zhejiang Province
  • 180 km away from Shanghai and Ningbo
  • Communication hub in East China
  • Software development and production hub
  • Rapid development with independent intellectual property like Sunyard, Alibaba, etc.
  • Software development and production involving in fields of securities and finance, e-commerce, ERP, CAD
  • One of 11 national software industry bases

(Source)

One additional party to the incubator agreement is the Chinese Association for Science and Technology (CAST) which was created in 1992 and is registered in the state of New York as a non-profit organization. The organization comprises of, “…thousands of members in more than 30 states across the United States, working in universities, industries, government agencies and other sectors….[and] is now one of the most-recognized organizations among Chinese professionals in the United States” (Source). To serve as a “bridge” between the United States and China for both personnel and information exchanges, and for the cooperation in science and technology, economic, trade and other areas.

What does this all mean for Xiamen IoT Technology and Waltonchain?

To sum up, by partnering with the Taiwan Cloud Service Association, Xiamen IoT Technology and Waltonchain are tapping into an already established business that has an array of connections within the technology and software industry. The Taiwan Cloud Service Association is a well-known entity within the region and its reputation as a leader in the cloud computing space will help Xiamen IoT Technology and Waltonchain obviously attract high-end partnerships and contracts but also attract leading academics to join the incubator. The Zhangzhou Hi-Tech Industry Development Zone will play a similar role in both attracting top talent to the project due to its strong reputation as a communications and software development hub as well as create a Silicon Valley type of approach for adding ICOs and partners into the Waltonchain ecosystem.

The primary duty for the Chinese Association for Science and Technology will be to serve as a recruitment funnel for high-quality potential incubator applicants. Lastly, the incubator itself will serve as a talent pool for future Waltonchain developers and programmers, contributing to a stable future for the coin with consistent growth and improvement for years to come.

Lastly, a government sponsorship for Waltonchain reduces the fear, uncertainty, and doubt regarding the ICO ban and Waltonchains ability to operate in the region. If Waltonchain continues to see government sponsorships, the opportunities provided to the company will vastly equate to their potential without such partnerships in place.

A Review of Boxminings Interview With Mo Bing

Published on Dec 4, 2017, Boxmining released a video capturing his time in Xiamen. This video fo his visit involved meeting with Waltonchain, CEO Mo Bing, to discuss how he came up with the core concepts of Waltonchain and how they are integrating RFID and the blockchain as well as their go to market strategies in their initial industries.

Bing’s interest in the blockchain came at the perfect time. He found out that his friend was using his computer to mine bitcoins and when Bing caught him he became enamored with the concept. From there, Bing saw the benefits of creating a system that was reliable and trustworthy to those who want to use it. Their primary focus was to create a solution that allows machines to talk to other machines across various networks, wavelengths, and languages. He also envisioned that the use of child-chains would allow companies to keep their important data private and fast while maintaining the credibility to push to the parent-chain when the data needs to be public. The combination of these two things really showcases how Waltonchain is so much more than a supply chain management coin, instead, it operates more like a “big data” coin.

When he was at Samsung, Mo Bing’s focus was on marrying software and hardware and that’s what led to the creation of Waltonchain’s RFID chips. The chip is installed in clothing and every time it is scanned, it provides a unique number that is put onto a child chain. By doing this, Bing has made sure that the items being scanned could potentially be tracked throughout the entire process from manufacturing to retail sale to resale to a garbage disposal. This is being beta-tested with clothing companies currently and Waltonchain aims to have a completed parent-chain by the first quarter of 2018.

When asked why people should invest in WTC, Mo Bing provided three reasons that are outlined in their whitepaper as well. First, they’re building a “commercial ecological chain.” Any merchant is welcome to join and they then have the ability to build their own child-chains. In order to build these chains, the companies will have to use the Waltonchain token. Second, there are sub chains for any product or company on the line, boxes, clothing, any product that is using the chain. Data will be moved across the chain and when companies buy and sell the data, they will be using the Waltonchain token to complete those transactions. Finally, there will be subchains for transactions between companies and normal transactions. This will be for both the subchains and the parent-chains, creating a cross-chain node, which will also require the WTC token.

In the demo Mo Bing offered to Boxmining, they aren’t just talking about tracking the clothing and the sale of clothing. They are also talking about having trackers on the doors of dressing rooms, so that companies can be made aware of styles being brought into dressing rooms and the end result for the consumer, purchase or back on the shelf. In doing so, companies can take a closer look at what the consumer wants and tailor their designs to those desires. This data will be made available for the owners of the stores and the designers of the clothing, thus creating a demand for the system.

The other piece of the demo that was enlightening was the speed with which inventory can be done. Waltonchain created an RFID scanner that will allow you to just scan through a rack of clothing to complete inventory. Normally, a person will have to scan each tag manually. The creation of this scanner with the implementation of the RFID tags will allow companies to check and update their inventory at much faster speeds than ever before. In addition, the big data provided here is also impressive for retailers. Keep in mind, they are scanning the whole shipment and will be allowed to analyze when things come and when they are sold. This will allow these retailers to order things more efficiently and create a better shopping experience for their customers. The designers and owners of these companies will be allowed to search for data themselves to adjust what they are creating for their customer. That is well beyond what most retail companies and designers are able to accomplish currently.

Bing went on to discuss that they could even use this at home. He provided an example of buying a container of yogurt for his home. When you put the yogurt in your fridge, you never remember the expiration date. For just a few cents, WTC can track the expiration dates of the items you put in your fridge and let you know if they’ve gone bad.

This video did a good job of explaining to us that though the Waltonchain team is starting with retail, the blockchain itself is set up for big data solution. By making machines talk to machines it becomes amazing the types of things you can do with this IoT solution. You can make your TV detect when you are using a hairdryer and turn up the volume or you can have your street lights light up when a car is within a radius. Heck, Waltonchain has even claimed entire cities could run on WTC one day. When machines can talk to machines the limitations of what you can do is rather endless.

When you picture the world in the future, you should just warm up to the fact that it could be run on Waltonchain. This isn’t a supply chain management solution, this is revolutionary technology being applied to a market.

What are you the most excited to see when the VIoT becomes reality?

Waltonchain Demos Their Clothing Unattended Retail Stores To Boxmining

Published on Nov 17, 2017, Boxmining released a video of his time visiting Waltonchain in Xiamen. His visit allowed the Waltonchain team to demo their unattended retail stores in a more informal and informative way than many traditional releases.

Upon release, the Waltonchain team released a statement showcasing how glad they were to open up their R&D labs to curious minds. Waltonchain has always stood firm that their goals include honesty, transparency, and trust. When Boxmining was willing to visit Waltonchain, they met the opportunity with open arms.

The video released by Boxmining was the first of two regarding Waltonchains RFID technology and how it relates to the blockchain. The core focus of the first video was to showcase how the blockchain and custom RFID tags can be used in a retail store.

Essentially, Waltonchain developed a system that embeds tiny RFID tags into the paper that makes up the barcode tag that many people are aware of. This appears to be the first known use case of their technology, and likely designed for their ties to a distribution network.

With a system such as this, it is not necessary for employees to be manning the store and can drastically reduce the time required to check out. On top of the added benefits of proving proper sourcing, looking at how often an item comes off the rack (grab rate) and adequate auditing of data that is seemingly an accounting disaster.

How does it help supply chain management?

The auditing of supply chains is a disaster when it comes to things like sourcing, the product, the logistics of shipping, the storage of clothing in retail stores, and the sale of clothing. Products and materials get passed from one company to another, over and over.

Depending on how long the supply chain is, you could have a couple of dozen different companies involved in any one t-shirt. With each step, you have to account for everything that has happened to the auditors. Shipping insurance companies need access to these records, as well as finance companies, manufacturers, warehouses, distributors, and retailers.

The current method produces a ton of paperwork because companies can’t trust each other and often times their own databases. Blockchain provides the trusted immutable database for all parties to use. It provides instant visibility into an otherwise opaque industry. A public blockchain is the only way to have a truly trusted supply chain tracking system. It also does so at a fraction of the price of maintaining DBAs to protect the data.

How does this solution help retail stores?

Initially, this process likely will still include someone at a cash register. When a customer is ready to check out, they just walk up and place everything on the scanner and confirm the product, similar to what you see at most self-checkout grocery stores. In the future, there will almost certainly be an option for you to pay in cryptocurrencies at which point the stores can place readers at the door so that a customer paying in crypto could just walk out the door and be charged to their wallet. If no wallet is found, the alarm will sound as the product hits the reader.

How do they keep someone from ripping a tag off and stealing the product?

Well, initially it will still require people in the store to monitor the supply through the cameras and on the ground. There are multiple ways a retail shop can combat this issue. They can do this in the same fashion as the cameras at automated red lights, bill people after the fact (if they can gather their personal information) or they could have a security team that handles the clients in person. Long-term, though neither may be needed as there are already rumors and prototypes amongst RFID companies in which the tag itself can be in the product itself. That’s right, the shirt you wear may one day have a passive RFID embedded into it.

Why Waltonchain over other blockchains?

Waltonchain offers something none of the current competitors do in their dual-chain system. All data can be stored on child chains, vastly reducing the operating cost and only using WTC to push to the master branch post-purchase. That means analytics such as grab rate won’t clog up the network and can be used for internal purposes.

How this may work is that the logistics company will push the data to the master chain upon arrival of the products so the retail stores can verify the products. They can then attach a new unique RFID tag onto the product and associate it on the chain with the logistic information creating the lineage of the product on their internal child chains. The child chains can communicate across all of the locations of stores verifying the just-in-time systems and supply chain management of their operations internally while pushing the completed data to the parent chain once the purchase is complete.

The child chain solution is the best way for companies to quickly spin up new ways to track and report on information without the true bloat of the master chain. Much of this technology is not public knowledge at the moment but we know that these chains will be maintained by nodes within the Waltonchain Ecosystem which also maintain auditing for the supply chain management.

As the smart contract platform fleshes out, you could see ICOs building full retail marketing solutions within Waltonchain or expand on the use of the RFID readers to log things such as security footage and labor hours to the parent chain. You could have a tracker on the camera that monitors the movement of users through hot zones and correlates the grab rate to areas in the store. There are many things you could do on chain to expand upon the use of Waltonchains VIoT that isn’t showcased directly in this video.

Is this product a big deal?

Yes. 100% this is a massive achievement and advancement in the retail stores. This removes the need for centralized databases and the costs associated with DBAs and SQL Engineers. It also offers a more extensive range of tools regarding product protection, sourcing, supply chain management, and customer retention. All around, this RFID technology paired with the blockchain is the first step in what represents the VIoT of Waltonchain. As the acceptance of the technology and the implementation of the Waltonchain smart contract platform advances, you will likely see entire smart cities ran on Waltonchain.

Waltonchain Creates Public Announcement Regarding Alpha Test Results

On November 11th, Waltonchain released an official letter to the community. This letter highlighted the specifics in user feedback and progress leading up to the beta test in December.

From the letter, it appears that it was the right call to institute an alpha and beta test prior to rushing straight into the public release of their blockchain. As an alpha tester, I can assure you that the chain was ready to handle a public release and many of the testers suggestions are ideas on how to expand past the expectations set by industry leaders.

Dear Waltonchain family,

First off, we would like to thank all of you for your continued love and support. When we announced testing back on Oct. 30th, we received more than 400 volunteer applications. While we would have loved to accept every applicant, we selected 60 volunteers to aid in alpha testing the Waltonchain parent chain.

From Nov. 6th through the 10th, we tested the Waltonchain blockchain browser, wallet and all the related full-node functions, applications, and security.

During the test, we received more than 140 suggestions from our testers that helped us further strengthen Waltonchain. We have been implementing the best ideas from our volunteers systematically, and hope to include all valid suggestions down the line. As an appreciation to our testers, all of the volunteers will receive WTC as a reward for their energy, hard work, and enthusiasm.

As of Nov. 10th, we are happy to say that the alpha testing of the Waltonchain parent chain is complete. Currently, the R&D team is working feverishly to improve the parent chain system based on everyone’s feedback. We ask that you continue to watch for the release of the beta test in December that will incorporate submitted suggestions and improvements to the parent chain system. In the meantime, we encourage you to continue to participate in the overall development of Waltonchain.

We would like to express our gratitude to everyone for your constant love and support.

Talk again soon,

Waltonchain Team

Nov. 14, 2017

Waltonchain Partners with Korean Exchange Coinlink

On November 9th, Waltonchain announced that they would be partnering with Coinlink as the first Korean exchange to facilitate the trade of WTC. Many onlookers were hoping for more substantial volume exchanges to list WTC, however, the Waltonchain team painted the picture as to why Coinlink is the ideal entry into South Korea. On their official statement, Waltonchain listed five reasons why Coinlink is a game changer:

1. As the only digital currency exchange in Korea with a listed company background, it has so many reasons to be optimistic! Coinlink aims to become the pacesetter in the blockchain industry in South Korea.

Through various mediums, it lists Coinlink as a project under Fourth Link. Fourth Link’s primary focus is the sale of coal to railway companies and power plants, both domestically and internationally. The company also constructs railway communication systems and national information networks.

Coinlink is not the first blockchain project that Fourth Link has partaken in. It appears that Fourth Link has bought a company handling biometric authentication security certifications, by the name of Certon, that runs on blockchain technology. The combination of such security practices and an exchange could prove the legitimacy of some of the claims the Waltonchain team makes later.

Currently, Fourth Link trades on on the Korean Stock exchange meaning they are a public company. Their work with creating communication networks does seem to lead to interaction with the Korean government, and they were awarded the Minister of Knowledge Economy Minister of Korea Technology Award in 2012.

2. Coinlink possesses a favorable reputation in blockchain industry in Korea, and maintains an amicable relationship with the industry-related governmental agencies and well-known institutions. Many directors of the Korean Blockchain Industry Promotion Association had been invited as coinlink consultants.

This claim does appear to be the case. Not only is Fourth Link a publicly traded company, but its work is tied directly to the communication lines within South Korea.

South Korea remains one of the most lucrative and regulated countries for blockchain technology. Having Coinlink as strategic partners aids to Waltonchains suggestion that Coinlink is strategically placed to gain a significant market share of Korean volume moving forward.  Rumors have surfaced due to the North Korean cyber attacks that more regulation is imminent within South Korea, something that Certon + Coinlink can be best prepared for and truly be a catalyst for their growth.

3. Coinlink, with its CTO, the former Samsung electrical network security engineer, provides the most secure system in Korea, unlike outsourcing models of other trading platforms in South Korea, Coinlink also has a professional security team. Its server can withstand 1million people sync-transaction.

The notable part here is the security aspects of Coinlink. Sure, dropping the bombshell of ex-Samsung CTO is a big deal but more importantly, the commitment to security is paramount to the success of the exchange.

In September, news reports of North Korean cyber attacks on South Korean Bitcoin exchanges continued to surface. The attacks have wiped millions of dollars worth of bitcoins off exchanges. As such events occur, so will regulations and security protocols. Many of these companies have structured their contracts and labor to outsourcing their security instead of managing it in-house, something that will likely create strain and even closure of exchanges as regulations continue to intensify.

The ties to the Korean Blockchain Industry Promotion Association and the commitment to biometric security, as well as network security, suggests that Coinlink is taking actionable steps to make the platform big business.

4. Well-founded, Coinlink planned to invest 1 billion KRW for community maintenance in 2017, and hire a professional team to take care of Kakaotalk, Band, Facebook and so on. As Off-line activities, it planned to promote in Seoul, Busan and other large cities covering an area of 70% of South Korea.

This point is good for multiple reasons, the most obvious reason being that Coinlink is actively looking to gain new users through their own efforts. Currently, Coinlink is far from the trading volume of the top exchanges in the world, and it’s important to give them credit for using their own resources to expand the platform, instead of hoping to add currencies or relying on community members to promote their product for them.

The second reason this is valuable for Waltonchain is that the partnership communicates that Waltonchain is marketable. Using their resources to promote both Waltonchain and Coinlink shows the value that WTC adds to the long-term growth of Coinlink, and this isn’t a partnership that exclusively helps Waltonchain reach the South Korean marketplace. Mutual relationships tend to have lasting rewards as well as non-contracted ones, something that may be more valuable considering Coinlink’s network through Fourth Link.

5. Good timing for cooperation. After the Chinese government formally banned the exchanges, domestic players flooded into the Korean market. In October this year, South Korea became the largest e-money exchange market in the world. However, the South Korean government has very strict monitoring of the new currencies at major exchanges. Coinlink has five well-known e-currencies, WTC listed on Coinlink, dramatically elevate its brand value and social status among the Korean.

Point five echoes the context of point four in many ways. Coinlink finds value in adding Waltonchain to an exclusive list of tradeable assets as it ramps up its marketing campaign. This signals to the rest of the world that Waltonchain is past the Chinese FUD and that WTC is a viable asset to the highest regulated marketplaces in the world.

When you couple Coinlink’s background, contacts, commitment to security, and commitment to growth is apparent that this is a strategic partnership on behalf of Waltonchain. This connection is far bigger than being listed on the highest trade volume exchanges in South Korea; this further signifies that Waltonchain will be one of the leading blockchain solutions for the foreseeable future as suggested by a joint agreement that benefits both Coinlink and Waltonchain more in the future than it does from day one.

AirDrop and Listing Information

In the official release, it was noted that Coinlink would be having an airdrop for WTC as they open the pairing on December 15th. This is part of Coinlink’s promotional effort to put Waltonchain at the forefront of South Korean cryptocurrency holders minds. An airdrop is the simplest way to encourage people to look into the details of an asset for future purchases. The idea of distributing free assets of worth will have people lining up to register for Coinlink and receive some free Waltonchain. Across many airdrops seen around cryptocurrencies, it is mostly seen as a way to increase the value of the coin though many would believe it would lead to a short-term sell-off.

This airdrop further signifies that Coinlink thinks Waltonchain is incredibly marketable and will aid their future user growth in ways that many other assets could never do. Such an agreement between the two parties shows a lot of faith that the future is brighter for both Waltonchain and Coinlink.

Breaking Down the Important Releases in WaltonChain’s Alpha-Testing Documentation

On the afternoon of October 30th in the Western Hemisphere, a few WTC employees dropped by the Slack chat around 3 a.m. their time. It was made apparent that the team had been working non-stop for more than 48 hours to prepare for a release, one they rumored would be publicized shortly. The team was approaching a deadline they gave the community of November 1st. This deadline incorporated a version of a wallet and details of the parent-chain. Since the announcement of the period nearly two months ago, many community members began exaggerating the scope of the release to include the full working parent-chain, new exchanges, etc.

 

As the community began to swirl in anticipation of the news, the WaltonChain homepage showed an updated announcement as a popover in the center of the page. It appeared in the middle of the screen on the website and was left there without a public notification via Twitter or Slack. The announcement linked to a PDF and application related to applying for the alpha release of their wallet and parent-chain. The idea the community would be able to test the wallet before a public release was new information to all.

 

The release PDF was not simply instructions on how to properly test the chain, but was filled with new information related to the project. Breaking down the ins and outs of the release proved to be fruitful for the future scope of the project. WaltonChain continues to prove that we only have a faint idea of what they have in store.

Link to Alpha-Release PDF

At WaltonChain, we are trying to disrupt the entire RFID industry, to help the advancement in the adaptation of IoT by enterprises and ultimately achieve our vision of VIoT. Similar to other companies who try to disrupt an industry, there will be unspeakable hard work and sacrifice, coupled with persistence and perseverance by the team, of course, some smart decisions by the management and keen innovations by the technical developers along the way will help a great deal. What we want to achieve in our first stage is not easy and we are moving towards it with speed and precision. During this journey, we have our community full of believers and supporters, giving advice, constructive criticisms or just rooting us along, for that we are grateful. Although we are small, our ways are far from perfect, we would still like to give our commitment to our community that we will do everything within our powers to strive to be the best in the industry, globally.

The above quote is a lovely sentiment from the company to continue to care about those that hold the coin. We as coin holders are not their investors by law, and they owe us no such respect. Many people seem to forget that when criticizing this company and demanding more. If these people held other enterprise coins such as Factom, they would quickly learn how much this team genuinely cares.

WaltonChain is already making waves in the RFID industry, specifically in China. For such a short-lived company to have the success that they have had before releasing, their project should bode well in their “ultimate vision to achieve VIoT.”

As this was released around 3 a.m. their time, no one can question if they are working hard or not. Based on the points published further in the document, they seem to be working on projects much more extensively than we originally thought.

Wei Songie and Kim Suk Ki should be prized treasures in crypto, as rumored by user Crypto Fu. He mentioned in the Slack chat, “Let’s put it this way. If you can help me spread the words too, that would be great. Dr. Wei came back to China to teach under the invitation of Chinese central government, and his status is that he can’t even leave China, he is a national strategic asset of some sorts, being “protected” by the Chinese gov.”

Waltonchain system adopts an advanced solution that combines hardware and software to solve the issues which will occur during the seamless transfer of massive amount of data connected to physical assets on chain and realise the real-life applications for in-depth integration of RFID hardware systems and blockchain technology.

TLDR; WaltonChain allows real-time solutions to integrate physical assets and the blockchain using RFID technology. The data required to pull this off is massive and to most this is no easy task.

There are numerous problems and technical bottlenecks which we have solved and some still to be solved in order to achieve the above-mentioned goals. So far Waltonchain has created the following innovative solutions to solve the dilemma that haunted many other chains in the market today:

1. To prepare for the upcoming software-hardware mixed RFID system with block-mining readiness, we have adopted a Waltonchain brand-featured hash calculation to promote operation stability, data integrity, resource sufficiency and system robustness.

This should be the first thing people FUD when talking about this update. The number one rule in crypto is not to make a custom encryption algorithm. If this were any other team, I would agree. Dr. Wei Songie is not only an expert with a Ph.D., but is also a post-doctoral teacher and researching leader, and has run a lab that has tested his encryption processes for the last few years. This appears on the surface to be a breakthrough in modern encryption standards. According to a few reports, existing encryption practices were beatable as-is anyways. If properly tested, this puts WaltonChain not only on the map for RFID but also industry-changing encryption.

Remember, WaltonChain isn’t just some small startup. The Silicon Group is a huge name in the IC industry, Aioute is worth tens of billions, and the customers outside of Aioute are all billion-dollar companies at minimum. There will be hundreds of billions of dollars in assets on the line and in some cases entire cities(smart cities through Aioute). New encryption would not be just trotted out onto the front line unless it was properly tested and better than any other option available.

2. Waltonchain adopts a hybrid consensus mechanism (PoS + PoW) for fairness with a consideration of both node stakes and computation capability. Once the system-wide computational power comes to a dynamic convergence, blocks are steadily produced for every minute on average.

3. Node stakes are composed of token balance, holding duration and node seniority in the network.

4. Consensus is specially designed with mining difficulty adjustment to prioritise blocks containing more transactions sooner.

5. We will roll out a Master-node program on top of our Staking program and Mining-node program geared towards holders with a significant WTC balance (≥ 5000 for now), Master-node program will provide holders with extra reward from Waltonchain foundation.

The PoST+PoW system seems to be slightly different than initially reported. Initially, it was believed that a minimum of 5,000 WTC was required to participate in the system. This release of information, however, implies that any amount of WTC is acceptable to participate in the system, but members in the master-node class will get priority.

With this information unfolding, it leads question to the phrase “seniority.” Does seniority imply the master-node status or is it based on time within the system? If it is the latter, the algorithm for rewards becomes even more complex adding a filter of the master nodes and time staking. This system seems incredibly rewarding for master-nodes that participate in the system early. Not only will you be rewarded more for your participation, but you also get the added benefit of the computing power of the people lower in priority. The increased computing power should bring value to WTC and WaltonChain rewarding everyone holding stake in the project’s success.

6. We innovated a double-chain design to organize WTC parent-chain and application-child-chains, by building inter-chain bridges for mutual trust and confirmation transition, and to support data exchange and value transfer. (We are quiet proud of this one!)

The Waltonchain team has completed Waltonchain parent-chain system development and internal testing, as well as the development and adjustments of the web customised wallet and the blockchain explorer.

Though the most vague, point six is far and away the most important point to hammer home. Much of the following is of course speculation, but any varying degree of the truth can be game-changing.

The current working theory is that in a lot of ways WaltonChain isn’t just decentralizing the computational control and validity of the chain, but also the data itself. In essence, it is a blockchain that decentralizes its blockchain. This allows for individual nodes to validate the function of data and through their bridges change encryption states and be validated into the master chain. The child and parent chains are interoperable despite having different thresholds of hashing and encryption standards. This interoperability can suggest that the child chain data can be accepted at face value as already validated master-chain data without multiple blocks of confirmation, and already require a lower threshold of computation to be verified.

How this is pulled off in practice and theory are things only WaltonChain can answer.

TLDR; this is a big, big deal.

WTC blockchain Explorer enables users for :

-Browsing and querying information regarding blocks, transactions and wallet addresses-Checking the current network status regarding block producing time, mining difficulty, network

-wide computational power, mining difficulty, network-wide computational power and node participation

-Providing a statistics and query portal on WTC distribution and circulation

Much of this is an industry standard, within blockchain companies, and the parts that may be new are not discussed here. In their White Paper, WaltonChain suggested that companies and users will have dashboards for supply chain management and lineage of the production of the product which requires some order of time sync. A general browsing and querying dashboard suggests that this control is a global thing whereas it is likely expected to have enterprise-wide solutions. I would expect this dashboard more to act as a dashboard for business intelligence than your traditional blockchain explorer. However, these features may be introduced later.

The customised WTC wallet is featured with these functionalities:

-Creating new wallet, sending transactions and viewing wallet balances

-Portal for exploring WTC blockchain

-Compatibility with Ethereum chain

We will continue to complete the innovative functions of the parent-chain, relevant code design of double-chain structure, as well as the Master node related design. In terms of the wallet, we will launch full-node wallet which supports automatic node-wide configuration, and automatic mining function; meanwhile, a fast mobile version wallet APP is under design and development.

Though all three are incredible features for a mobile and desktop wallet, the last point stands above the rest. Being able to hold and use an ERC20 token on a chain for WTC and in the WTC wallet is a feat that many companies raised funds to be able to provide liquidity and coverage for. For this to merely be a feature on a chain that isn’t participating in the Ethereum network is rather large.

The safety of Waltonchain’s parent-chain and wallet has always been our top priority. Although we have done numerous test runs, we believe that the power of the community is infinite. Waltonchain Foundation is gladly rolling out the Alpha Version of Waltonchain’s parent-chain and web wallet. We sincerely invite our community members to help us conduct the Alpha test.

Please read the instructions below carefully.

1. This first round of community members involved testing encompasses the basic functions, the typical applications, and mainly the security of the parent-chain and the wallet.

2. 50 to 100 qualified applicants will be selected and awarded with 5 WTC tokens to your personal wallet

3. 5 to 50 WTC tokens will be awarded to individuals who find any system bugs, functional deficits and/or provide any optimisation suggestions which we decide to implement

Applicants must fill out the application form “Waltonchain Parent-chain Alpha Test Application Form” and email it to test@waltonchain.org by Nov 4, 2017; This form can be found on www.waltonchain.org

Participants are required to hold a minimum holding of 1000WTC tokens. Elements that provide higher chances of getting selected: -Proof of holding larger amount of WTC tokens-Proof of long-term holdings of WTC tokens-Applicants with blockchain related technical backgrounds-The ultimate decision-making rights are reserved by Waltonchain team.

The alpha-test in itself is a rewarding opportunity as it provides you seniority. When you begin to couple that seniority with payments in WTC for discovering bugs and participation, it is a fantastic opportunity to advance the company. Though the amount of five WTC in itself is small, coupling that payment with bug report rewards could provide you with well over 100 WTC for something many would do for free.

To submit your own submission you can download the form on the WaltonChain homepage.

 

Meet the CEO of WaltonChain – Bing Mok

On Oct 24, 2017 WaltonChain released another installment of the YouTube series “Meet the Team.” In this episode, the team introduces the CEO Bing Mok.

Bing Mok presents himself as an experienced researcher in the IC and IoT field with a wealth of accreditations, patents, and connections within the industry. He points out several completed IC chips for operations like home appliances, toy cars, volume manipulation, light sensors, and more.

Hello everyone!

I am Bing Mok, the CEO of WaltonChain. I am happy to be here today and introduce you to the WTC project alongside my company.

As you can see here, our company is listed “Xiamen Silicon” which is the technical base of WaltonChain.

This company was founded in 2014. In 2015 the company was awarded honorable support for the company to focus on chip-related R&D. Meanwhile, the company became the main research institute for WaltonChains RFID chips.

We have produced many devices like infrared receiving chips, modules of air mouse, mouse chips, as well as our work on smart switch chips to read light sensors. We do this with the combination of RFID and blockchain technology, the hardware in WaltonChain.

Let’s have a look at some of the chips currently used by the company. Here on the left is an infrared receiving chip, which we use for home appliances, remote control cars, and so on. We are making global leading products.

We designed against Wi-Fi interference inside this mouse chip. We have implemented volume production inside this chip. This is the switch chip for smart light that we are developing now.

Also, you can take a quick look here at our companies introduction. As you can see this is our companies Chief Scientist, Professor Kim Suk Ki who is a postdoctoral supervisor in South Korea and the former VP of Samsung Electronics at Samsung Electric Co. He is quite well known and prestigious within the integrated circuit industry of South Korea.

This describes the overall projects of our company and pictures of various academic events we partook in. At present, I am also a distinguished Research Fellow in the field of integrated circuits at Sun Yat-sen University. Here are the patent and award certificates we have obtained.

Everyone, based on this introduction you may understand that the Silicon Group is targetting the development of IC chips. In addition, I have more than ten years of research experience in IC chips and IoT. In terms of the WTC project, we are striving to develop a system with a perfect combination of RFID and blockchain. With these results, we can develop an ecosystem of fairness, transparency, pureness and high creditability. This is also the inevitable trend of future businesses.

Finally, thank you for your attention to WaltonChain. All of your advice and recommendations are welcomed. We are happy to have you and help create a better future through the development of WaltonChain.

Thank you!

WaltonChain Invests in the Security of Their Community

At 7:37 a.m. EST, WaltonChain admin Abbyyy appeared in the Slack chat to announce that the team had purchased a license to the security protocol MetaCert. MetaCert is a Slack bot that will thwart phishing attacks against community members.

This certificate is not only a costly endeavor, but a show of good faith to the WaltonChain community. A simple pricing analysis suggests that WaltonChain is dishing out at least $150 a month in something that provides no value to the core development of the project. A good faith gesture such as this proves that the WaltonChain team truly cares about their users.

Based on my research, this is the first team to implement a solution to protect their Slack. Other teams have bailed on Slack completely, instead of resorting to the use of monetary funds to secure their channel. Given the scope of the phishing attacks over various Slack communities, I believe such an initiative SHOULD be mimicked across all platforms. WaltonChain pioneering such an effort only amplifies their commitment to their community development and security.

Hi @everyone we just installed the security app from MetaCert to protect our community from phishing scams. We have paid for the app so it’s free for you and already installed in all of our channels.
However, the bad guys use Slackbot Reminders and DMs to send scams most of the time. You don’t need to install anything, but to protect you from these scams, you must authorize MetaCert to monitor links inside DMs.
The app cannot read your messages. It will only analyze web links and protect you from phishing scams. Please authorize it ASAP or you could fall for a scam and lose your money. Make sure you select our community on this page:
https://slacksecurity.metacert.com/auth/users.

Combining the application of this security certificate, the “Meet the Team” YouTube series, and the extensive time the team is devoting to answering AMAs, it is easy to suggest that the WTC team is doing all they can to keep good standing with their users.

 

Meet the team: Lin Herui, General Manager of Xiamen IoT Technology Co. LTD

On Oct 18, 2017, WaltonChain released their 6th installment in the Meet the Team YouTube video series. In this episode, the team introduces Lin Herui (Harry Lin) the General Manager of Xiamen IoT Technology Co. LTD, a subordinate of Silicon Group. The scope of Silicon’s reach continues to grow, as it is proven to not only be a small set of RFID specialists, but fully staffed R&D, engineers, and developers to build scalable solutions related to the WaltonChain project.

Lin Herui continues to expand the current reach of the WaltonChain ecosystem, claiming their developments can already cater to intelligent manufacturing, logistics warehousing, apparel, retail, and other industries.

Hello dear WaltonChain fans,

My name is Harry Lin the General Manager of Xiamen Iot Technology Co. a subordinate of the Silicon Group the Chinese technology partner of WaltonChain. Xiamen Iot Technology is a passionate team dedicated to the research and development of IoT Solutions over the years such as RFID solutions, tags, readers and coordinated applications.

Currently, we have twenty-four expert members including four doctorates and thirteen engineers who have all graduated in top Chinese Universities with strong technical backgrounds.

We have already achieved the development of anti-transfer fragile labels, RFID tags, and RFID readers for WaltonChain applications. These advancements are widely used in intelligent manufacturing, logistics warehousing, apparel, retail, and other industries.

Xiamen Iot Technology will be responsible for the promotion and implementation of WaltonChain applications.

Many thanks to all the WaltonChain fans for your support and recognition. Let’ keep working together to create the WaltonChain IoT ecosystem.

We believe we can make a world of difference.

Thanks again.

Meet the Team: Suk Ki Kim Head of Research and RFID Expert

On Oct 14, 2017, the WaltonChain team released the 5th iteration of their Meet the Team YouTube video series. This was a long-awaited video as the connection between the Silicon Group and WaltonChain continues to be more clearly defined. In this installment, we hear the advisor talk about his role and the progress of the RFID chips initial design.

Hello everybody, I am Monitor Chan, COO of WaltonChain.

I am currently in Korea and would like to introduce you to our professor (Suki Ki Kim). He will introduce you to his work on our project.

Please carry on professor.

Hello everyone, my name is Suk Ki Kim. I am a retired professor from the University of Korea. I am currently the senior tech-adviser for WaltonChain. I am here with you today to check on the progress of our design work system definition within our chip design. This chip design is on the way and we hope to finish in time.

We have come from China and Korea to collaborate and check on the progress of this design. So far our hope remains to finish our work in time to benefit both ourselves and the people related to our project. We hope to prove success with this for all of our stakeholders.

Thank you very much.