Waltonchain Unveils Clothing Authenticity Application
As a smaller company in China, Waltonchain has been researching ways of introducing blockchain technology into systems designed to authenticate and verify products and services. On Thursday, the company revealed its new tracking application, designed to trace clothing products and confirm their validity.
Waltonchain functions on Ethereum, although its operations and projects revolve around the same services provided by VeChain, a company opting for its own main-net. After early-year optimism towards the company slowly declined, its trading has come to a standstill- unlike dominating companies in the field such as NEO.
Waltonchain's token has seen a large drop in value within months with trade significantly plummeting to deep lows since January's spike.
At its high, the price of WTC rose past $45, with many expecting the currency to make its way among triple-digit coins. WTC continued dropping almost eight percent every day until its latest value of $6.60
Due to the large Bitcoin pairings share on Binance, WTC is at current low with Tethers making up for twenty percent of trading. Waltonchain also aims to combine RFID with blockchain and gather data through the technology. Others have stated that storing data that continuously changes on a blockchain was a less efficient means given its unchangeable nature.
Waltonchain's technology works by pairing any collected RFID with a final copy of its authenticity, storing data successfully on the platform. Recovering from a controversial crash after its reward token scandal, WTC will have to re-establish itself and statements are expected soon.