A Letter to Community / White Paper 3.0 Lite
2020 Review
In 2020, the spread of COVID-19 became a major disaster in Korea, China and Japan in Asia. European countries like Italy, France, Germany, Spain and the UK were hit hard, too. The USA had the worst epidemic in the world.
The flow of people, cargo and cash shrank in all walks of life. In order to delay the impact of the epidemic, the USA launched several rounds of monetary stimuli, pushing up the deficit to 21% in 2021. The global situation was turbulent in 2020, but Waltonchain will continue to follow its original plan in the realm of the Internet of Things.
Since its creation, Waltonchain positions itself as a blockchain project in the Internet of Things industry. The IoT itself reaps the fruits of the communication industry development brought about by the advent of 4G. The number of connected devices may reach 100 billion in 2025. There is no doubt that projects like Waltonchain that have use cases and contribute to supply chain and logistics management, have great potential. Looking back at 2020, Waltonchain stepped up in the IoT and plans to further promote the global ecosystem layout.
Waltonchain has grown from having East Star Group as the only technical supporter to having a global partner network. It has been increasing the number of ecosystem partners, the technical team has become mature, the project has in-depth cooperation in many countries.
The main network was launched and the Ethereum-based token completed its mission. A running mainnet and a completed token swap mean that the project ecosystem can enter large-scale promotion and the future business activities will be a deeply rooted tree with meaningful existence. A large number of DApps can be developed on the network, accelerating the involvement of more technology developers, miners (PoW projects) and holders. The enterprises, institutions and organizations in need of the blockchain technology are welcome and can be served readily.
The Cross-chain Center upgrade completed. Waltonchain has improved its public chain and optimized the cross-chain system and the key network features: peak throughput is 2,000 TPS, block time is 30 seconds, transactions need six blocks for final confirmation, users can customize gas fees.
With its cross-chain ecosystem based on parent-child chain architecture, Waltonchain enables interactions between data existing on different blockchains, cross-chain data sharing and fast and effective data indexing.
To build child chains for users and enterprises quickly, Waltonchain provides child chains prototypes for Fabric, Ethereum and other architectures for different scenarios. They serve as data application templates. It doesn’t matter whether the customer has blockchain development experience at all. The rapid building of child chains in its turn enables fast expansion of the Waltonchain ecosystem.
Since 2017 till present, Waltonchain has tested project incubation and various IoT + blockchain use cases and has a rich layout. However, for the time being, blockchain industry lacks popularity. Traditional industries and business owners of all sizes haven’t fully recognized the need in blockchain and the industry in general lacks mature technical solutions.
Looking forward, we will deepen the understanding and application of the IoT + blockchain business concept, add constant technological improvements and analysis of hot market trends and increase the speed of upgrades so as to respond to the changing blockchain market demand with timely strategies in line with the latest trends.
Based on the parent-child chain architecture, Walton Chain Foundation will launch NFT + DeFi products, develop dynamic NFTs for special electronic and physical objects, and realize connection and interaction with off-chain data.
1. NFT
NFT products are very compatible with digital and physical products. They have broad applied value and potential, which fits Waltonchain’s IoT + blockchain concept.
With DeFi + NFT products on the Waltonchain mainnet, users can draw virtual NFT products “blindly” (without knowing what exactly it is) or generate them through pledging and other means. Stage one is the launch of virtual internet personality images and related games and participation in pledging to share profits of the mining pool.
After Waltonchain NFTs have data exchange in the virtual world, we will add data anchoring between the physical world and NFTs to cover unique and non-renewable value-added items (rare gems, works of art, collectibles etc.). Waltonchain will also provide users with an NFT product trading and auction platform.
2. NFT product platform
At the early stage of Waltonchain’s NFT ecosystem, we will build a DeFi + NFT game product trading platform on Waltonchain. It will provide users with convenient trading, auction and issuance functionality for virtual NFT products. After data anchoring between the physical world and NFTs is in place, the platform will also support trading and auctions for physical collectibles.
The platform will further undergo functional improvements: users will be able to upload music, images and other objects under personal copyright to trace them as NFTs. Artists who upload works to the platform will enjoy the exclusive income rights according to the time of first release in the global network.
At the same time, in cases when third parties need a unique NFT tag, this platform fits the blockchain industry well. To drive the input, we do not rely solely on NFTs, but turn to the industry + NFT use cases.
In works of art, a complete master backup of all layers and some other incomplete independent layers can be owned by different people. For instance, a group of people can collectively own a work of art and the owners can manage its properties at certain levels independently.
3. Personal identification
In order to give back to MN, GMN, SMN and normal users for their long-term support for Waltonchain, Walton Chain Foundation will create genesis NFT IDs of different levels according to users’ WTC holdings to share pool rewards and give preferences in games etc. WTC holders will continue to participate in the governance of the whole ecosystem development, incentive programs, profit sharing and future decision management.
4. Derivative ecosystem construction
Waltonchain plans to provide its community with more diversified services:
DEX
Waltonchain will open a safe and stable decentralized cryptocurrency exchange platform on its mainnet. It will later cover fiat currency, other digital currencies, commodities, stocks, index ETFs etc.
Liquidity aggregation platform
It will be an aggregation platform based on the DEX that will pool profit output data of different products. It will serve other projects and provide users with the highest contract profits through data calculation and comparison. WTC will be used as the governance coin, i.e. the means to participate in the development and governance of the derivative platform and share its profits.
Insurance pool
To ensure blockchain security, especially protocol security for DeFi projects and various smart protocols, Waltonchain will create DeFi products with mutual insurance. WTC holders will be responsible for the provision of capital behind the insurance. As the core asset to maintain the operation of the insurance system, WTC will represent the rights and interests of the community and will allow users to purchase insurance, participate in claim assessment, perform risk assessment through collateral and participate in community governance.
Users will take part in insurance underwriting by holding WTC, initiate insurance for smart protocols holding large amounts of assets, assess risks and express willingness to underwrite by pledging to smart contracts behind protocols.
Welcome to join Waltonchain and uncover a brighter blockchain world!
