Waltonchain (WTC), a project that attempts to integrate blockchain-based technology to RFID chips to realize the value of the Internet of Things (IoT), has recently increased in its price, courtesy of the recent release of its key component for the project cycle, which is a mid-end infrared receiver chip (XMS8088).
As of the moment of posting, WTC tokens are at $12.93, marking a 5-percent increase in the last 24 hours and granting the project a market cap of $402.73 million.
The said product was developed by the same’s technical supporter Silictec. Passing the Research and Development (R&D) phase, the product has already approached the mass production phase.
The key receiver chip will be pivotal in integrating blockchain-based technology and Internet-of-Things in business applications made in the physical world. Additionally, the chip proves efficient in delivering a broader input voltage and in exponentially reducing power consumption.
Earlier this month, Waltonchain participated in a major blockchain event at The Great Hall of the People in Beijing, China for the blockchain and innovative technology aspect. Noted in the attendance are prominent figures, including Li Lihui, who happens to be the former president of Bank of China, as well as Zhang Jingan, also the former Deputy Minister of Science and Technology of China.
Waltonchain received the invitation due to the recognition of their efforts to help in shaping the future of blockchain, and the rest of the world and its affairs.