Waltonchain

Overview

Waltonchain is a blockchain project that aims to combine blockchain technology with IoT (Internet of Things) through RFID (Radio-Frequency Identification) technology. The project was founded in 2016.

Purpose and Utility

The WTC token serves as the native cryptocurrency of the Waltonchain ecosystem, designed to facilitate transactions within their IoT-focused blockchain platform. It is used for paying transaction fees, participating in the consensus mechanism, and incentivizing the network's participants.

Current State

As of 2024, Waltonchain has faced significant challenges. The project has shown minimal development activity in recent years, and their social media channels have been largely inactive. The once-promised partnerships and real-world implementations appear to have not materialized at scale.

Business Model Analysis

The core business model of tracking supply chain items using RFID technology on a blockchain is inherently halal, as it involves creating real utility through improved logistics and authenticity verification. The token's role in facilitating these operations also aligns with Islamic principles as it represents ownership in the network's infrastructure.

Platform Development

While the project's GitHub shows limited recent activity, the fundamental technology and its intended use cases do not involve any haram elements such as interest-based lending, gambling, or prohibited industries.

Token Distribution

The initial token distribution included allocations for the team and development, with vesting periods. While detailed current distribution data is limited, there's no evidence of manipulative practices or schemes designed purely to enrich the founders.