Waltonchain (WTC) released their key product. How did it affect the price?

Waltonchain (WTC) released their key product. How did it affect the price?

Waltonchain is a project whose goal is the creation of a business ecosystem that successfully integrates the technology of the blockchain and the Internet of things (IOT). Recently, the project received an invitation from China’s largest blockchain conference, and also announced the release of its key product – the IR chip.

Waltonchain tries to combine the technology based on the blockchain with RFID chips and thus to combine both technologies. Immediately after the news about the beginning of mass production of the first series of IR chips, the price of tokens WTC rose to the level of 12.93 U.S. dollars, representing an increase of 6% in 24 hours. However, it failed to gain a foothold at this level and now the price fell back to their former positions in the region of 12 dollars.

The reasons for price jump

Most analysts agree that this jump was caused by the fact that the key product for the project. The product has successfully passed the testing phase and will soon begin mass production.

This IC chip, codenamed (XMS8088), developed the technical partner of the project, the company Silictec.

Representatives Waltonchain claim that this product allows you to quickly integrate blockchain technology in the IOT. The chip can work with a wide range of input voltage, also, the developers have managed to significantly reduce its energy consumption.

In addition to this serious event, earlier this month, the representatives Waltonchian took part in the largest blockchain conference of China – China the Blockchain, which took place in Beijing. The conference was attended by Chinese officials of the highest rank: Deputy Minister of science and technology of China – Zhang Zinan, former President of the Bank of China Li Lihui and many others.

What’s next?

Two other chip are currently under preparation for mass production. They also developed company Silictec.

According to the road map project in June, has to happen another significant event is the introduction of a system of production control and warehousing for Chinese clothing company KALTENDIN.

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