Waltonchain is a project that aims to create a business ecosystem which successfully integrates blockchain-based technology and Internet of Things (IOT). The project gained further publicity as it was invited to a major blockchain conference in China and it announced the release of a mid-end infrared receiver chip key to the project.
Waltonchain attempts to combine blockchain-based technology with RFID chips in order to successfully realize the value of IOT in its real-world application. At press time, WTC tokens are trading at $12.93, marking a near 6% increase in the last 24 hours and giving the project a market cap of a little over $402.73 million.
Reasons for the Increase
The price appreciation follows the release of a key product in Waltonchain’s project cycle – a mid-end infrared receiver chip. The product has passed the R&D phase successfully and is already deployed for mass production.
We are delighted to update our community that the mid-end infrared receiver chip (XMS8088) developed by Waltonchain’s technical supporter Silictec has entered the mass production phase!#Waltonchain $WTC #Blockchain #IoThttps://t.co/AhynT6su1L
— Waltonchain (@Waltonchain) June 6, 2018
According to the company, the recently released receiver chip will provide means for quicker integration of blockchain-based technology and IOT in real-world business applications. The chip manages to deliver wider input voltage as well as to reduce the power consumption substantially, as stated by the team.
Furthermore, earlier this month, Waltonchian was invited to a major event in the field of blockchain and innovative technology. The company attended the China Blockchain Technology Innovation and Development Forum held at The Great Hall of the People in Beijing.
This has undoubtedly played a serious role in favor of WTC as key figures also attended the conference. Some of them include the former Deputy Minister of Science and Technology of China – Zhang Jingán, Bank of China’s former President – Li Lihui, and others alike.
The company also revealed that two other chips are currently entering the preparation stage for mass production. They are being developed by Silictec, which is Waltonchain’s technical supporter.
There is another serious milestone which should be hit in June according to the team’s official roadmap – it is the implementation of the production, storage, and store management system for Chinese apparel company KALTENDIN.
Thank you all for participating in our $FREC #airdrop! Your support is important for our growth in the journey toward a #VIoT future.
We would also like to update the community with our goals for Q2 2018.#Waltonchain $WTC #IoT #BigData pic.twitter.com/K9mDH5HIhx
— Waltonchain (@Waltonchain) March 28, 2018
Do you think IOT-based projects will succeed in implementing this innovative technology in real-world business applications? Don’t hesitate to let us know in the comments below!
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Written by Georgi Georgiev @ http://bitcoinist.com/waltonchain-wtc-price-climbs-company-releases-key-product/ June 8, 2018 Georgi Georgiev