The Summary of Waltonchain in 2017
1. Recollection of what happened in 2017
It was only in the past year when Waltonchain came to exist. Our road was and still is not an easy one, but with the help of our foundation and team combined with the support from our community members coming from 26 countries all over the world, we have become one of the most stable digital assets on a number of well known digital currency trading platforms. We achieved major progress in technical R&D work in relation to project development and application; and our strategic partners provided us with their full support.
Under the strategic guidance from global leaders in blockchain and IoT we’ve made a great breakthrough recently: we obtained a series of core patents for solution design based on a combination of RFID chips and blockchain with independent intellectual property rights. We also received invitations to start partnership with famous companies from Britain, Sweden, France and other countries. We are pleased to know they all noticed to the investment value of our project and the patent portfolio which stands behind the Waltonchain technology. This lays a solid foundation for the future development of Waltonchain.
2. Work done
Hardware R&D: we successfully performed blockchain + RFID system application Demo, solved many problems of industrial application and provided the optimal solutions for the entity economy and the new retail.
Software R&D: we solved the problem of fast physical asset data uploading to the blockchain, designed applications with in-depth integration of an RFID hardware system and blockchain technology. In the future, application of the RFID + blockchain combination to all industries will promote the complete transformation of the whole business.
Progress in project R&D:
1. Adopted the Waltonchain Hash Calculation Method and the Consensus Mechanism based on PoS + PoW, fully considered the rights & interests and the calculation ability of accounting nodes to insure the stability and security of Waltonchain operation.
2. Introduced the innovative double-chain structure design, put forward the latest cross-chain connection and confirmation mechanism, effectively solved the problems of subchain-parent chain data exchange and the circulation of rights & interests.
3. Finished the development and testing of the full-function node wallet for Windows.
4. Finished smart contract development for the Master Node plan, debugged and tested the reward issue process in the test environment.
5. Came up with the Guardian Master Node plan, implemented the functions of distributed recording for holding the existing WTC tokens and record query and developed a scheme for future Guardian Master Node migration to the Waltonchain parent chain. In the future, this plan can bring handsome returns to long-term supporters of Waltonchain.
6. Redesigned and rebuilt the blockchain browser for the Waltonchain test parent chain, improved and updated its functions and provided data interfaces.
7. Finished testing of the open community-oriented Alpha and Beta versions of the Waltonchain system.
8. Assisted Silictec which is the unit responsible for the overall blockchain-related design and software system implementation during their participation in the 2nd Chinese Blockchain Technology Innovation and Application Contest where they were highly appreciated.
9. Developed and tested a software system for special account equipment (mining machines) of Waltonchain, performed the preparations for the next-step hardware and debugging environment development.
10. Activities：Completed the recruitment of community volunteers and completed the Waltonchain system Alpha version testing.
Walton chain has shortcomings in marketing and communication. We have not done enough of marketing activities in Europe and America. In 2018, based on feedback from our supporters, we will make up for it.
1. We have some aspects to be improved in the internal management, because we want to take the lead in the field of technological innovation. Recently, the company’s business develops rapidly, and the internal management and operations try their best to keep up with it. We recruited new team members to promote the high standards and strengthen the management process in 2018. At the same time, we will establish local market teams in key regions and countries to achieve smooth communication with Waltonchain team supporters.
2. The engineering team was not fully aware of the customer application experience during the project application testing which caused users’ concern for us. We have considered this problem thoroughly and will strive to do our best in 2018.
3. Rapid development resulted in a lack of timely updates with our community; the community made sure we were aware of this. We are making internal changes to better inform our community. We hope to become the next-generation IoT engine and promote the application of blockchain to more industrial fields, based on our core chip technology with independent intellectual property rights, and push forward industrial transformation.
We will do our best to improve in the above aspects.
4. Our results:
1. We made our way from the average price of $0.32/WTC during the first listing to as high as $43.34/WTC on Jan. 13th, which equates to 135x value increase at the peak. Our market capitalization reached $720,719,000, and currently our market rank is №59 globally. This is just the start of our work being truly recognized.
2. Applied for 13 invention patents and software copyright items;
3. Reached strategic cooperation on our project with more than 20 partners in China and South Korea;
4. Started trading on 11 platforms globally;
5. Won a total of 5 awards of the global blockchain and IoT industry;
6. The total number of community supporters exceeded 90,000 people, the community covers 26 countries and regions globally with 100,000+ readers. We released 8 AMAs in the community.
7. We were invited to participate in 11 global blockchain and IoT-related industry summits and popularize the blockchain technology application.
8. On the 100th day of WTC trading, we launched the Guardian Master Node plan and obtained 2095 Guardian Master Nodes. We let more supporters get handsome returns in the future!
We would like to express our gratitude for your continued support on this exciting journey, as we enter 2018 as the most promising IoT & blockchain solution in China and Korea. We have so much great news coming over the next few months and we are proud to have each and every one of you by our side. This year, we will make sure all our investors are kept very happy.