The Unique Technology that Separates Waltonchain from Its Competitors
There are now a handful of other RFID-based coins in the cryptocurrency market – Ambrosus, Vechain, Wabi, etc – and while they are all involved with tagging items on the blockchain, they all have one thing in common apart from Waltonchain: they do so through API.
When collecting data from the outside world via RFIDs, that data must first be fed through API before being written to the blockchain. This means all the data is first passed through a centralized intermediate. The blockchain is implemented in the application layer, through business-centralized control, and as such, the system cannot be trustless.
Waltonchain bypasses this problem completely. They have developed RFID chips that write directly to the blockchain on their own, without any human intervention, guaranteeing the data is fully reliable with a decentralized, trustless system. They implement the blockchain through the RFIDs themselves, at the foundational layer. This technology is patented, which will secure Waltonchain as the only blockchain that connects the physical world (via RFID) with the virtual world with truly reliable data. This positions Waltonchain as the optimal Internet of Things (IoT) platform. This also allows for the true authentication of items, which makes Waltonchain the best solution for tackling the counterfeit goods industry.
In a hypothetical scenario where a competitor’s API is hacked, the entire blockchain is compromised. But if one of Walton’s chips is hacked, only that chip is compromised. Each chip must also be cracked individually, due to each RFID tag having its own ID. This is the benefit of decentralizing data. The competitors are securing things like supply chains similarly to running an antivirus program. It helps and works in the application layer, but the PC isn’t really secure until you secure everything starting from the physical layer.
There are a host of other advantages to Waltonchain’s system, but this is, in my opinion, the single most important one. Without first decentralizing data collection, you cannot be sure that the data is 100% reliable, and when managing the world’s supply chains or managing smart cities, this is crucial. After all, cryptocurrency was created in the first place to be decentralized. Waltonchain is only staying true to those roots, and decentralization is the first huge step towards a true Internet of Things.