Huobi AMA Review (May 31, 2019)
1. What is the price and ROI of KIRINMINER?
A: CNY 42,980 or USD 6,380. ROI is approximately 75 days (editor’s note: ROI estimate refers to May 31, 2019. Due to the two recent mainnet exploits: first one fixed on block №149,500 and second one to be fixed with the upgrade coming early July, Waltonchain tech team tries its best to recover the original reference ROI for KIRINMINER users).
2. Are KIRINMINERs in batch 1 and batch 2 different?
There is no difference in performance. Batch size depends on production capacity. The second batch price may fluctuate, please refer to the price announced at the time of sale.
3. Will more tokens be issued?
4. Will you provide a new appreciation plan in the future? Do you have any idea about the token price?
A: We will not issue more tokens; our ecosystem has been developing and comes to various industrial systems. Price is determined by the market. As the ecosystem will only grow bigger and bigger, in theory, the sky is our limit.
5. What is the future plan and layout of the project?
A: In the coming years, the focus of our layout is to develop in 5G Smart City, life cycle monitoring of high-quality agricultural products, liquor, health products and pharmaceuticals.
6. Can you wholesale KIRINMINER?
A: It is possible for the second batch. Please contact the official customer service (editor’s note: please follow future official announcements for details).
7. Do you cooperate with Huawei?
A: We provide chips to Huawei (editor’s note: please see the answer to Q9 in Binance AMA for details).
8. What is the life cycle of KIRINMINER?
A: In theory, till the electronic components are scrapped. 3+ years.
9. What are your application scenarios?
A: Someone did not do the homework properly. At present, Waltonchain has perfect solutions for garment, logistics, food, retail, warranty/extension industries and has developed a blockchain traceability system applied for garment, pharmaceuticals, liquor, agricultural products, oil and gas, warranty and extension etc. So far, Waltonchain cooperates with Korea Dongdaemun Fashion Town, New Zealand MitoQ, KALTENDIN, Huodull, Neusoft in the blockchain field.
10. Is there any evidence to prove you supply chips to Huawei?
A: Welcome to our office to check. We can provide Huawei supplier orders.
11. Do you also work in the IoT field? What is the main aspect, is it flow pools?
A: We mainly do comprehensive IoT solutions based on blockchain with the integration of hardware and software.
12. Where are all the child chains? The overseas evaluation of your parent chain code is relatively negative. What do you think?
A: There will be more applied industry child chains in the future, please look forward to it. For projects integrating software and hardware like us, the iteration cycle is slow; but we walk steadily and firmly. The parent chain code bases on the Ethereum architecture. Our strength is blockchain-on-chip, which is very different from most pure software projects.
13. Will you introduce incentives and penalties in the future?
A: Yes, the future is self-control by the community. Incentives and penalties will accord with the community consensus.
14. I heard that you have a new child chain for agricultural provenance, do you?
A: Yes, please pay attention to DMTC, the agricultural product traceability ecosystem.
15. Why don’t I see your marketing?
A: We will continue to strengthen marketing through community, media and other channels. Please pay attention to KIRINMINER batch 2; you’ll see Waltonchain marketing in action.
16. In the Internet of Everything era, what are the prominent features of Waltonchain?
A: The blockchain-on-chip combination used for anti-counterfeiting traceability and product life cycle monitoring. This is our feature. We believe that with large-scale popularization of 5G, Waltonchain will shine.
17. When is token swap? When will you sell KIRINMINER batch 2?
A: This is the key direction of our project now. Major progress is to be made in June. Please pay attention.
18. Has there been any cooperation with Chinese government departments or state-owned enterprises? Has there been any progress in this regard?
A: The cooperation with Shougang Group and Neusoft Group — they are state-owned enterprises.
19. What are you going to do next? What is the plan? Focus on token or technology developing?
A: The next step is to focus on the industry layout and child chain implementation. Our blockchain-on-chip technology will be widely promoted. Token as an indispensable part will help our industry implementation.
20. What chips does the project have?
A: IR decoder chip, RFID tag chip, RFID reader chip, MCU chip, WTC miner chip.
21. You all do the Internet of Things. What are the advantages of WTC compared with IOTA? Is there a chance to surpass them?
A: The underlying technology is different. IOTA is based on DAG and focuses on software. Our underlying technology is chips; we focus on hardware. Some of our future child chains will adopt DAG architecture for high-TPS application scenarios.
22. Is your implementation in finance going good?
A: Yes, we implemented a solution in warranty/extension. Please refer to https://www.waltonchain.org/sys/353.html (editor’s note: the link has the Warranty/Extension Information Traceability System solution in Chinese; English version to be released in July).
23. You interact with users too little. I had been in crypto for three years before I noticed Waltonchain. The popularity of Waltonchain in China is so low that many people don’t know you. Suggest you do more such activities, at least to raise awareness. Chinese crypto players don’t know what WTC is.
A: In the crypto community, we have established ourselves as technicians focusing only on technology and implementation. In the early stage, we did not pay much attention to interaction. Starting this year, we must strengthen in this area.
We will strengthen our interaction with the community. As an international blockchain project, Waltonchain currently has more than 200,000 followers in 200+ countries and regions. Waltonchain currently recruits Autonomous Community Node Managers worldwide. The managers need to create communities on social platforms and cooperate with us on publicity work to receive 50–1,000 WTC rewards monthly for completing a certain content output. With the help of global supporters, 42 autonomous communities have been established. More people are welcome to join Waltonchain to assist in the blockchain industry development and construction of a new business ecosystem.
24. Was EOS or Waltonchain first to release a public chain?
A: EOS is the best underlying blockchain operating system at present. But as we absolutely are a combination of hardware and software, Waltonchain is the first public chain in the IoT industry.
25. Ethereum switches to PoS. Will you?
A: We don’t plan it at the moment.
26. What’s next on the plan? Focus on token, technology, or continue to brag?
Next, we will continue to develop applied child chains for various industries, attract more third parties to develop DApps on the mainnet, give full play to the financial attributes of WTC and expand WTC application.
Binance AMA Review (June 12, 2019)
1. When will coins actually be swapped and how many child chains will be announced then? Does it mean that the whole ecosystem with synced child chains goes live? If not, can you explain to us the current situation? What should still happen before the whole ecosystem goes live?
A: We already released Waltonchain Cross-Chain System. So the child chain ecosystem is live. Token swap will start shortly. Currently, we work with exchanges on it. By the way, we will announce two new child chains: Yanghu Distillery and Huodull. We are also deploying the DMTC child chain.
2. We are interested in how and when you will market the Waltonchain ecosystem. You have set up global communities to raise awareness and introduce child chains but will you also advertise direct to industry and also do other regular sorts of marketing in the future?
A: We have already started to market. And we sure will expand it. Each of our child chains in the Waltonchain ecosystem represents a specific industry, like liquor, logistics, agricultural products etc. Now we actively connect with various industries, provide industry solutions for them and expand the application field of our ecosystem.
3. You recently launched an in-house built ASIC (KIRINMINER) and also a hardware Bamboo Wallet both of which were welcomed by the community. Will there be any more retail hardware releases in 2019? Do you have a beta website ‘Mall’?
A: we are glad to see how they sold out. The KIRINMINER ASIC and Bamboo Wallet are both quite popular in the community. We prepare to sell the second batch of the ASIC. TBA shortly. Besides, our blockchain data collection terminal — Waltonchain Box (we have not set the name yet and are open for community’s ideas) — entered deployment testing and RFID chip entered tape-out. When we complete the testing, we will officially announce them to the community.
4. Can you give us a rundown of some of the key people in your core team and their business or technical experience? I believe you have both Chinese and Korean team members? Can you also say roughly how many people are working at Waltonchain?
A: Waltonchain is a joint project initiated by both Chinese and Korean team members. You may have heard about our geniuses Kim Suk Ki and Wei Songjie. We have about 200 employees now, more than 60% of which are engineers. You can find the latest core team introduction in our white paper.
5. A great catalyst for mass adoption is often achieved by making available Solution Development Kits (SDK)’s and providing developer resources to the community. Up to this point, Waltonchain has not provided these much-needed tools in order to advance and propagate the ecosystem. When will an SDK and developer resources be made available to the community so that users may begin developing smart contracts and/or side chains of their own?
A: Sure, we will provide all the needed resources to our developer community. We are currently improving the Cross-Chain System SDK and prepare to release it. With it, child chains can develop a cross-chain data endorsement module of their own and customize the parameters of data endorsement to our parent chain, like frequency and gas fee.
6. How can we distinguish the difference between Waltonchain and the rest of the supply chain projects? Why these solutions are considered to be better?
A: Rather than a pure supply chain project, Waltonchain is more of a public blockchain platform which provides a complete solution combining software and hardware. Our hardware is specially designed for blockchain solutions. We have a strong hardware and software R&D team dedicated to this mission. Examples can be seen in our hardware announced previously, such as RFID chip, blockchain data collection terminal etc.
7. What do you see as Waltonchain’s best competitive advantage that sets you apart from other blockchains in logistics?
A: We are the first (and by now the only one) global project to integrate IC with blockchain. We develop hardware in-house and have our chip technologies patented. We also developed an encryption mechanism to make it really impossible to forge the data written to the chip. This will help us achieve the widest application scope in traceability. Other blockchain projects (like VeChain which the cryptocommunity likes to compare us to) do not have IC technologies of our level.
8. When USDT trading pair on Binance?
A: We are in close contact with Binance on it. The USDT pair will be listed shortly!
9. It was said that we would see WTC technology in mobile phones in 2019. In one of the latest AMAs there was also stated that you provide chips for Huawei. Could you provide some more info regarding this?
A: In our previous news release we mentioned that we have developed an infrared chip. We are the provider of KGD for assembly factory, who are the supplier of Huawei, ZTE, TCL, Skyworth etc.
10. Is there a licensing model or does every cross-chain equally pay per usage?
A: We can use both models as per child chain needs.
11: In which industry do you see the biggest potential for possible adoption of the Waltonchain ecosystem?
A: Agricultural products, pharmaceuticals.
12. What are the specific features unique to the Waltonchain RFID chip that have been successfully patented and cannot be copied by competitors?
A: Our RFID chips combine the software feature of blockchain in it, which can realize two-way authentication of software and hardware. We have successfully applied for patents for this technology, which projects our first mover advantage in our future development.
13. How can Waltonchain profit from the data they get, from scanning the RFID tags? Buzzword Big Data.
A: We track products circulation from the raw materials to the sale on blockchain (!). In this process, we collect valuable data analysis of which can help customers improve their business models.
14. Can you give us a brief explanation of the importance of time stamps in the Waltonchain ecosystem? Would you say they are essential for the future success of the project?
A: Time stamp is one of the methods to ensure data authenticity. When data privacy is not required, timestamps are configured and vice versa.
15. Waltonchain RFID chips can upload data to the blockchain directly, without using API to coordinate. It’s not clear how the process differs from competitor solutions, or why it has an advantage. Can you explain this process in a little more depth?
A: Our RFID chips upload data to blockchain via reader-writers and complete two-way authentication with blockchain without human interference. This ensures authenticity of all data.
16. I really don’t see any marketing done by you guys. Why so? Waltonchain has a working product and it has to be appreciated in the crypto industry.
A: Thanks for your appreciation of our project! We will add fuel to our marketing. Our Autonomous Nodes help us a lot already.
17. Why do we need to build a child chain on Waltonchain? What are the challenges for Waltonchain and how do you overcome that?
A: Child chains are what will make our ecosystem widespread. They will help us enter every industry and will embody the real value of WTC (each cross-chain transaction will use WTC as gas). The current challenge is spreading word about us.
18. Are you guys planning on getting WTC officially supported for the Ledger Nano S after token swap?
A: Since we are now open source and have provided API interface, any third party hardware wallet can now integrate WTC. We are also communicating with some major hardware wallet companies such as Ledger.
19. When are you going to provide us with a Linux Wallet and/or miner?
A: Due to the heavy R&D work load of our team, we will develop Wallets for different operating systems according to the needs of the majority in our community.