Waltonchain is a blockchain project designed to create supply chain and logistics systems. The Waltonchain Foundation launched the project in November 2016 and the mainnet on March 31, 2018. The project is named after Charlie Walton, the inventor of the RFID technology. Waltonchain competes with VeChain, another Chinese company that wants to provide solutions to problems in supply chain management.
Waltonchain follows all the steps in production and distribution and provides feedback on what stage they are in. Each transaction is stored on a different blockchain. Waltonchain has created solutions for different industry verticals to fill the gaps in supply chain and logistics.
Waltonchain works on data coordination between large enterprises by tracking products at every stage of production and distribution. This data is stored on the blockchain, guaranteeing accuracy at every stage of the process, and this technology is combined with RFID tags (chips that respond to a specific electromagnetic frequency and send data back).
The price of WTC has increased by about 7% in the last 7 days, but has fallen by 6.83% in the last 24 hours. Since there are no negative developments that could affect WTC, we can consider today’s decline as a corrective move.
