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Cryptocurrency (Coins)

Waltonchain (WTC): Blockchain Value Internet of Things (VIoT) Ecosystem

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What is Waltoncoin (WTC)?

Outside observers have expressed on occasion that the Waltonchain concept doesn’t seem to bring more than a little ease to the world of logistics. When looking at the project objectively, this would appear to be a false perception, however, as Waltonchain’s blockchain reach brings a comprehensive infallibility to supply chains.

Factoring in the rise of the IoT, Waltonchain has built a networked supply chain management system named after American Charlie Walton, a major pioneer and patent holder in the RFID technology arena.

Radio-Frequency Identification (RFID) uses radio waves to read, capture and identify data. Identifying objects, animals and people, RFID reads information that is stored on a tag attached to the object in question. Waltonchain has married RFID, blockchain and the IoT to revolutionize logistics systems. In a hitherto unimaginable stroke of relevance, Waltonchain has streamlined the future of logistics.

As shipping lines, agents and buyers look to blockchain to finally jettison often centuries-old inefficiencies, the company is establishing itself as a definitive offer.

A glimpse of the ambition and caliber of Waltonchain is seen in their Chief Scientific Advisor, Kim Sukki, a previous Samsung VP. The company is already branching out from logistics, partnering with the Chinese coastal province Fujan’s authorities to develop a smart system of maritime logistics. Elsewhere in the country, Waltonchain is working with the Jinhu County government on improved air purification and air monitoring systems.

All The Knowledge, All Of The Time, With Waltonchain

Most consumers have but a glimpse of logistics systems. They are inevitably convoluted and also typically involve several parties.

A perpetually difficult scenario emerges as a logistics system grows. Various parties within the same vertical find coordination increasingly complex and challenging. Individual processes and priorities further hamper brisk, correct data transfer.

A basic tenet of Waltonchain is the employment of RFID technology to track products. Data is captured during each phase of development and stored on the immutable blockchain. This ensures that, from inception, every product is known, cataloged, anticipated and distributed, based on real-time intel, without errors. No matter where in the production or distribution cycle an item might be, comms is eased and obstacles removed.

Besides being a tribute to the intense work Walton did on RFID technology, Waltonchain has been given as an acronym for Wisdom Alters Label, Trade, Organization, and Network. Although this seems a little contrived, it fits, and does actually describe Waltonchain’s net effect aptly.

The Value Internet of Things (VIoT)

Waltonchain has pioneered the idea of the “Value Internet of Things” to depict their marriage of proprietary RFID chip technology with blockchain. By employing RFID tags wherever needed, users can now capture data representing any object on earth on the Waltonchain blockchain.

Current uses of RFID identification tags include any inventory or library network, as well as retail product tracking. RFID is a major component in the success of the Redbox kiosks taking the US by storm. Indeed, Redbox is currently alarming online dispensers like Netflix and Blockbuster with its cheap and convenient movie offer.

RFID makes use of electromagnetic fields to identify objects. Adding that clear and easy identification to the simplicity and incorruptible ledger that is blockchain is a stroke of genius. With a decentralized ledger behind a simple tag scan, any user can know what it is, where it comes from, where it’s been and who’s handled it thus far. The concept of VIoT applied to logistical management systems has many benefits.

While it might be presumed that security needs to be watertight in logistics, this is equally true for any other industry, and with Waltonchain tight security is a given. Through applying blockchain technology, users can accurately track a product’s provenance. Moreover, there is no chance of counterfeiting, without counterfeiting tags themselves, something that will show as an immediate error on the system.

Parties can now also simply engage with or without a history of trust established. The decentralization smart contracting of blockchain eliminates the need for any party to be a known, trusted entity. Other benefits like a reduction in labor and other input costs come with VIoT. Enhanced clarity and thus ultimate speed of transacting also come with the package.

Waltonchain And Its Sub-chains

Waltonchain is the “parent chain” of the Walton ecosystem. It tracks Waltoncoin (WTC) transactions, the system token. It also manages sub chains and generates smart contracts.

Users can build their own sub-chain and also mint their own tokens. They can even opt for a different consensus algorithm from the Walton(parent)chain. This means that each business unit is free to pursue an app that best suits their model and desired outcomes. They can do this without losing the ability to seamlessly blend with the parent chain.

The chain/sub-chain model is also a good hedge against an issue that has plagued the cryptosphere: scalability. Put simply, a sub-chain’s data and activity won’t impede the parent chain’s transactability. The entire network isn’t stymied by a sub-user’s activity, as most of the data is resident on the business’ sub-chain. A poignant moment arose for the Ethereum platform with the popularity of CryptoKitties.

The Ethereum network doesn’t employ sub-chains, but each dapp created on the platform impacts the entire network. Thus, in the hysterical rise of CryptoKitties, serious network congestion ensued and transactions were delayed and fees rose in that moment. A sub-chain build would have greatly eased if not eliminated this quagmire.

The Waltonchain Difference

Waltonchain is unique, but not alone in pitching for solutions to logistic networks and VeChain is probably Waltonchain’s closest competitor in this emerging realm. Currently rebranding as VeChain Thor, that company also applies blockchain technology solutions to the supply chain community. VeChain allows users to build dapps on their network, akin to Watonchain’s sub-chains. There are important differences, however.

Waltonchain is exclusively concerned with RFID chip. VeChain includes QR and NFC codes. Although providing a solution to many of the same issues, the basic architecture of Waltonchain looks set to prove superior as a real-world app solution. Any solution for logistics that is infallible, easy and blockchain-secured will be welcome. Avoiding scaling issues in that imagining is priceless.

Waltonchain WTC Conclusion

Waltonchain [Waltonchain.org] employs their own “Proof of Stake & Trust” (PoST) protocol. It is similar to Proof of Stake (PoS), as it rewards nodes (token holders) through WTC dividends. Waltonchain also employs a “node reputation” protocol that pays additional dividends to more honest, higher quality nodes. In a buoyant system, this translates into token holders earning rewards simply by owning the tokens.

Apart from many Chinese and Korean big hitters from the fintech, AI and other industries, Waltonchain also has Do Sanghyuk on the team. He was previously the Director of the Korean Standard Association. Another co-founder, Xu Fangcheng was employed as the director of Supply Chain Management Director at Septwolves Group Ltd., a prominent clothing and tobacco company.

Looking at the technology at play, the areas of focus and the expertise on board, Waltonchain is set to become a major purveyor of valuable solutions not only to Chinese but global business interests. As outlined in their original whitepaper and validated in case study after study, the Waltonchain vision of VIoT is already here. And it seems that Waltonchain is just the kind of committed, sophisticated and responsive outfit to entrench it.

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Ripple (XRP)

Ripple Price Analysis: XRP/USD Primed For Further Gains

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Ripple Price Analysis XRP Chart

Ripple price surged higher recently above $0.4400 and $0.4600. XRP to USD is currently correcting lower, but the $0.4255 level is likely to act as a strong support and buy zone.

Key Takeaways: XRP/USD

  • Ripple price traded to a new monthly high at $0.4625 and recently corrected lower against the US Dollar.
  • XRP/USD is testing the $0.4320 support and a major bullish trend line on the 2-hours chart (data feed from Bitstamp).
  • Bitcoin price is also correcting lower from well above $9,400 and Ethereum price is currently below $270.00.

Ripple Price Analysis

Earlier this week, bitcoin price extended gains above $9,300 and $9,400. It helped ripple and its price recently started a strong rise above the $0.4200, $0.4320 and $0.4400 resistance levels. XRP even broke the $0.4500 level and traded to a new monthly high.

Looking at the 2-hours chart, ripple price even traded above the $0.4600 level and settled well above the 50 simple moving average (2-hours, purple). A high was formed at $0.4625 and recently, the price started a sharp downside correction.

Ripple Price Analysis XRP Chart

There was a break below the $0.4520 support and the 50% Fib retracement level of the recent wave from $0.4254 to $0.4625. Moreover, the price broke the $0.4400 support level.

It is currently testing the $0.4320 support and a major bullish trend line on the 2-hours chart. The 76.4% Fib retracement level of the recent wave from $0.4254 to $0.4625 is also acting as a support.

If there is a downside break, the price could test the main support near the $0.4255 level. As long as ripple price is above $0.4255, it is likely to bounce back in the near term.

An initial resistance is near the $0.4400 level, above which ripple is likely to continue higher towards the $0.4480 and $0.4500 levels. If the bulls regain strength, XRP price could even retest the $0.4625 swing high.

Overall, ripple price is trading with a strong bullish bias above $0.4255 and $0.4150. Therefore, there are high chances of a fresh increase above the $0.4400 and $0.4480 resistance levels in the coming sessions.

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Bitcoin (BTC)

Bitcoin Price Analysis: BTC Surging, Next Stop Could Be $9,750

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Bitcoin Price Analysis BTC Price

In the past few days, there were strong gains in bitcoin price above $9,000. BTC to USD is surging and it seems like it could even trade towards the $9,750 or $9,800 level in the near term.

Key Takeaways: BTC/USD

  • Bitcoin price is surging higher and is positioned nicely above the $9,000 level against the US Dollar.
  • BTC/USD broke a crucial barrier near $9,200 and a contracting triangle resistance on the 2-hours chart (data feed from Bitstamp).
  • Ethereum, ripple, and bitcoin cash also gaining traction and moving higher.

Bitcoin Price Analysis

After setting above the $8,500 resistance, bitcoin price started a strong upward move. BTC surpassed many hurdles near the $8,850 and $9,000 levels to continue higher in the past few sessions.

Looking at the 2-hours chart, bitcoin even settled above the $9,100 level and the 50 simple moving average (2-hours, purple). The bulls gained traction and the price recently traded to a new 2019 high at $9,403.

Bitcoin Price Analysis BTC Price

It corrected lower from $9,403 and declined below the $9,200 and $9,100 levels. However, the price found support near $8,825 and it remained well above the 50 simple moving average (2-hours, purple).

Recently, it climbed back above $9,100 and broke a crucial barrier near $9,200 plus a contracting triangle resistance on the same chart. It is now trading above the 76.4% Fib retracement level of the recent correction from $9,403 to $8,826.

An immediate resistance is near the last swing high at $9,400, above which the price could accelerate towards the $9,500 and $9,550 levels.

The main resistance above $9,500 is near the $9,750 level. The 1.618 Fib extension level of the recent correction from $9,403 to $8,826 is near the $9,750 level. Above $9,750, the bulls are likely to target the key $10K level.

On the downside, an initial support for bitcoin price is near the $9,200 level. If there is a fresh downside correction, BTC to USD might retest the $9,000 pivot level. If there are more losses, the downside extension could lead the price towards the $8,800 or $8,750 level. Overall, BTC price is likely to accelerate towards $9,750 or $10K.

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Ethereum (ETH)

Ethereum Price Analysis: ETH Approaching Significant Support Area

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Ethereum Price Analysis ETH Chart

There was another rejection noted near $265.00 in Ethereum vs the US Dollar. ETH/USD is currently declining and approaching towards a couple of important supports near $254.00 and $250.00.

Key Takeaways: ETH/USD

  • Ethereum price formed a short term top near the $264.4 level and declined against the US Dollar.
  • ETH/USD is currently approaching the $254.00 support and a bullish trend line on the 2-hours chart (data feed from Bitstamp).
  • Bitcoin price remains in an uptrend and it could accelerate gains above the $8,300 level.

Ethereum Price Analysis

Recently, bitcoin price gained momentum and broke the $8,100 and $8,200 resistance levels. However, Ethereum price failed to gain traction and formed a short term top near the $264.4 level.

Looking at the 2-hours chart, Ethereum price started a downside correction from the $264.41 high and declined below the $260.00 level. There was a break below the 23.6% Fib retracement level of the last rally from the $236.89 to $264.41.

Ethereum Price Analysis ETH Chart

Besides, there was a break below the $258.00 level, but the price found support near $255.00. Moreover, the price is approaching the $254.00 support and a bullish trend line on the 2-hours chart.

Below the trend line, the main support is near the $250.20 level and the 50 simple moving average (2-hours, purple). The 50% Fib retracement level of the last rally from the $236.89 to $264.41 is also near the $250.65 level to act as a support.

If there is a downside break below the $250.00 support, the price could extend losses and decline towards the $243.50 zone. The 76.4% Fib retracement level of the last rally from the $236.89 to $264.41 is also near $243.40.

Conversely, if the trend line support holds, the price is likely to start a fresh increase in the coming sessions. An initial resistance is near $260.00 and a connecting bearish trend line. A break above the $260.00 barrier might start a strong rally in Ethereum price above the $265.00 level.

Overall, ETH price is trading with a positive bias as long as it is above $250.00, and it could rise again above $260.00 and $265.00.

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