Waltonchain

Waltonchain[WTC] updates its investors on progress, releases whitepaper 2.0

Waltonchain [WTC], the IoT enabled blockchain from South Korea, has updated its whitepaper with the progress the company has made so far and the direction they are going. The updated whitepaper was released on 4th September and is called as “Whitepaper 2.0“. Waltonchain officially announced the release of the new whitepaper through their Twitter handle.

According to the official blog post by Waltonchain:

“Waltonchain has been committed to leading humanity into a reliable digital life via blockchain. In its development, Waltonchain has made many technological breakthroughs and innovations, and reached a new milestone. On this basis, the Waltonchain team has upgraded the white paper accordingly. We proudly announce the official release of Waltonchain White Paper 2.0”

The new whitepaper reveals a new concept called “Chain clusters”. Chain clusters are a group of secondary child chains which are reorganized and grouped together to form a large business blockchain ecosystem. The chain clusters complement the already existing concept of VIoT (value internet of things), a concept proposed by Waltonchain.

Waltonchain also proposes a new kind of consensus algorithm called “Proof of Labor (PoL)”. According to the whitepaper, PoL is a consensus mechanism for data transmission and token exchange between various parent chain, child chain and cross-child-chain nodes on the Waltonchain network.

Smart contracts with custom data support have also been proposed.

Current Waltonchain price

Waltonchain lost 15% of its value in the past 24 hours, due to massive Bitcoin dump which has caused the entire cryptocurrency market to enter a bearish state. Waltonchain is currently trading at $3.76 and has a market capitalization of $151 Million.


Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity

Did you like the news you just read? Please leave a feedback to help us serve you better

Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.

Ishan Garg

Ishan is a cryptocurrency trader and a journalist. He joined the cryptocurrency space in 2017. He is the founder of Blockmanity. He is a HODLER and is holding BTC, ETH & UGT.

Share
Published by
Ishan Garg

Recent Posts

Bullish Signals for Sui Blockchain: Top SUI meme projects of 2024

Macro guru and Real Vision CEO Raoul Pal shone the spotlight on a rising layer-1…

1 month ago

AI Companions: A New Era of Digital Relationships and Virtual Experiences

As the technology landscape transforms at lightning speed, AI Companions has positioned itself as a…

2 months ago

zkCross Network: Simplifying DeFi Complexity and Achieving Fundraising Success

Did you know that 85% of DeFi value is concentrated in six blockchains?  DeFi is…

2 months ago

Don’t Miss Out: Get $CLP Tokens in the Exclusive RWA IDO Now!

CLAPART - a groundbreaking RWA platform has launched its much-anticipated $CLP token IDO on Gempad…

2 months ago

Step into the Future of Web3 at Blockchain Futuristic Conference 2024, August 13-14

Join us at BFC 2024 to explore the future of Web3. Use a special discount…

3 months ago

WebX Asia 2024: Web3 Innovation Ignites in Tokyo

Catch all the updates with Altcoin Observer, official media partner of WebX Asia 2024. Gear…

3 months ago