Waltonchain
Crypto Overview
Overview
Waltonchain is a blockchain platform launched in 2017 that aims to combine blockchain technology with IoT (Internet of Things) through RFID (Radio-Frequency Identification) technology. The project's goal is to create a 'Value Internet of Things' (VIoT) ecosystem that enables trusted data sharing and value exchange between IoT devices.
Intended Utility
The WTC token is designed to serve multiple purposes within the Waltonchain ecosystem: It functions as a governance token allowing holders to participate in network decisions, serves as a means of payment for various services within the ecosystem, and is used to incentivize miners who secure the network through a hybrid Proof-of-Work and Proof-of-Stake consensus mechanism.
Actual Utility Assessment
Current usage of Waltonchain appears to be limited. While the project has established some partnerships and pilot programs, particularly in China, the actual adoption of its RFID-blockchain integration solutions remains modest. Development activity has significantly decreased in recent years, with limited updates to the project's codebase.
Token Distribution and Founder Analysis
The initial token distribution allocated 20% to the founding team and 30% for mining rewards. While there were early concerns about the team's token holdings, these have been largely addressed through transparent communications and gradual distribution. The founding team has maintained involvement in the project despite reduced visibility in recent years.
Sharia Considerations
The fundamental business model of Waltonchain - creating a blockchain-based IoT ecosystem - aligns with Islamic principles as it provides real utility and involves the exchange of actual value. The project does not involve interest-bearing mechanisms or facilitate prohibited activities. The mining and staking mechanisms used for network consensus are permissible as they represent actual work and network participation.
Crypto Impact
To assign a comfort level investing in Waltonchain from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Waltonchain.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
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Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
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