Waltonchain Progress Report Nov-Dec 2017

Waltonchain Project Progress Report (NOV– DEC 2017) Research and Development 1) Hardware In order to ensure the project application, Waltonchain R&D team conducted an in-depth market research and analysis, and has completed the overall plan of chip design, as well as the prototype demo of blockchain+RFID application system based on actual RFID chip technology. The chip combines RFID tag chip and reader chip, which could be adapted for blockchain technology application. The chips are characterized by the integration of elliptic curve and decryption acceleration module, as well as a communication interface protocol for blockchain technology applications.The implementation of the project will promote the application of blockchain technology in the Internet of Things and solve the following problems:1.1 Each tag is only responsible for signature verification, which would not store node data1.2 Tags will automatically generate random public and private keys, in order to realize Internet of Things application’s security and to prove the uniqueness of tag, the record could not be forged and tampered1.3 Reduce the volume of data storage, and solve the blockchain data overload problem in the Internet of Things applications;1.4 Solve the problem of slow encryption and decryption in asymmetric encryption technology;1.5 Realize the decentralization in property and asset management, and the record is tampered-resistant.Our innovated RFID tag chip has integrated the asymmetric encryption function for adapting blockchain technology application, with excellent anti-interference and sensitivity. Its power design can meet the current strict requirements for power consumption, and the on-chip antenna and antenna matching technology have been significantly enhanced to improve the performance.Waltonchain R&D team has currently completed the chip scheme design and coding, and working on the simulation verification. We have released DEMO based on the existing RFID chip, and our parent chain has been debugged on the system. 2. Software Waltonchain system adopts an advanced solution that combines hardware and software technology, so as to realize the rapid record of physical assets data on the chain, and have in-depth combination of RFID hardware system and blockchain technology for application. So far Waltonchain has the following innovative design to solve the dilemmas that haunted other chains in the market today:2.1 In order to prepare for the upcoming software-hardware mixed RFID system with block-mining readiness, Waltonchain adopt an unique hash algorithm to promote operation stability, data integrity, resource sufficiency and system robustness.2.2 Waltonchain adopts a hybrid consensus mechanism (PoS +PoW) for fairness with a consideration of both node benefits and computation capability. Once the system-wide computational power comes to a dynamic convergence, blocks are steadily produced for every minute on average.2.3 Node stakes are composed of token balance, holding duration and node seniority in the network.2.4 Consensus is specially designed with mining difficulty adjustment, to prioritize and encourage the accounting-node with more transactions and faster characteristic.2.5 We plan to execute a master-node program on top of our Staking program and Mining-node program geared towards holders with a significant WTC balance (≥ 5000 for now), Master-node program will provide holders with extra reward from Waltonchain foundation.2.6 We invent a double-chain design to organize WTC parent-chain and application-child-chains, by building inter-chain bridges for mutual trust and confirmation transition, and to support data exchange and value transfer.2.7 We have completed the final version of our parent chain and full node wallet.Community Management 3. Activities 3.1 In early November, Waltonchain Foundation rolled out Alpha version of Waltonchain’s parent chain and web wallet and sincerely invited community members to help us conduct the Alpha testing. The testing has been finished successfully on November 10.On December 24, we announced that the Beta version of Waltonchain parent chain and wallet was officially opened for testing. Currently, we are at the stage of constant reviewing the feedback and try our best to optimize the final version.3.2 The “Blockchain 100 People National Tour” co-organized by 8BTC Finance and Fujian Blockchain Club, sponsored by Waltonchain was successfully held in Xiamen on November 25.Harry Lin, Waltonchain Project Director, was invited to make a speech of < Waltonchain, global leader in blockchain and IoT>, which sparked interest to Waltonchain project among the audience and industry elites. During the event, Xu Fangcheng, the initiator of Waltonchain, came as well to interacted with the audience.3.3 On November 26, Sun Yat-sen University successfully held the Blockchain and Information Security Forum and Blockchain Technology Public Popularization event. This campaign is sponsored by Waltonchain. Professor Guo Jianping, Waltonchain Project Director presented a report of “Reseach of Logistics Management System Based on Blockchain and RFID Chips”.3.4 To celebrate the 100th day since the launch of WTC, Waltonchain launched the Guardian Masternode Plan. In order to help more supporters become parent chain guardians of Waltonchain, form December 5 to December 8, we randomly drew five lucky winners from Coinnest daily, the precondition for the winner was to purchase not less than 4900 WTC on Coinnest, and each winner was awarded of 100 WTC. 4. Cooperation 4.1 On November 9, Silicon (Quanzhou) Electronic Technology Co., Ltd won the second grade award of high-level talent Strait Plan, as entrepreneur team of the third batch of high-level talent “Strait Plan”. The company signed a implantation contract and got the start-up capital of 3 million Yuan.4.2 On November 18, Zhangzhou High-Tech Zone (New and High Technology Development Zone) and Blockchain Industrial Park (led by IoT technology) signed a cooperation agreement on cross-strait blockchain talent. This project is highly supported by local authorities.4.3 On November 21, 2017, Quanzhou Silicon Technology was invited to Jinjiang integrated circuit industry chain project signing ceremony. Shao Yurong, Chairman of Fujian Province Electronic Information Group, Kang Tao Quanzhou’s Mayor were participated in the signing ceremony, and signed contract with 14 industrial chain projects including Silicon (Quanzhou) Electronic Technology Co., Ltd. The government give full support for the industry development with a total investment of nearly 3 billion Yuan. 5. Honor 5.1 On December 8, the final of the 2nd China Blockchain Technology Innovation Application Competition was successfully held in Guiyang. After nearly five hours of intense competition, more than 40 experts have given their unique evaluation together with their on-site votes. The project “Research on Blockchain-Based RFID Chip and Logistics Management System” launched by Silicon Technology was ranked third and also won the best popular award.5.2 On December 13, the “NB, Beidou technology based smart sanitation management system” project by Xiamen City Alliance Technology Co., Ltd. won the 2017 Global IoT Contest “Outstanding Product Award”, together with projects by Huawei Technologies Co., Ltd. (“Star Award”), Ericsson (China) Communications Co., Ltd. (“Excellence Program Award”), Shanghai Fudan Microelectronics Group Co., Ltd. (“Outstanding Product Award”) and other well-known domestic and foreign enterprises. 6. Platform Development Binance: https://www.binance.com/Hitbtc: https://hitbtc.com/OKEx: https://www.okex.com/Coinnest: http://www.coinnest.co.kr/Coinlink: https://coinlink.co.kr/Kucoin: https://www.kucoin.com/Coinrail: https://coinrail.co.kr/Etherdelta: https://etherdelta.com/Decentrex: https://decentrex.com/COSS: https://www.coss.io/Gate.io: https://gate.io/Source: https://www.waltonchain.org/notice-detail?id=ff808181608355d40160cae78a630004