Waltconchain Gifts Investors With Progressive Mining Reward Program

April 4, 2018 by Cameron Bishop

Waltonchain (WTC), an innovative blockchain platform where users can call smart contract functions in the form of transactions through ABI and contract addresses, launched its mainnet and brand new mining wallet on March 31. The developers also gave a pleasant surprise to the supporters of Waltonchain mainnet nodes by launching the progressive mining reward program.

Waltonchain’s mainnet features customized scaling design which enables creation of child chains, communication and data transfer between different industries, and utilizes the cross-chain protocol for data interoperability. All respective critical data created during the operation of our child chains, such as inventory, production, logistics etc., will be eventually uploaded to the blockchain.

WTC promotes the cross-industry data flow and value circulation. It serves as a foundation for DApps development, data analysis and market forecast, and therefore helps solve the problems of inaccurate customer targeting and analysis.

Waltonchain mainnet features

• Compatibility with the underlying Ethereum technology, provides the ability to hold more data from different industries and the integration basis for various child chains and ensures reliability and safety;
• Adoption of the PoW+PoS consensus mechanism improves fairness and efficiency;
• The improved hash algorithm to achieve greater safety and avoid node computation dominance;
• Support of WTC transactions on the Mainnet;
• The improved mining reward strategy which takes into account the number of WTC and holders loyalty.

Mining

After carefully considering the communities feedback to cpu only mining, and with the positive progress made during testing, Waltonchain team have found that CPU+ GPU mining will best secure the network. Therefore, they have decided to launch both mining options. On March 31, 2018, the Waltonchain Mainnet and the official Waltonchain Full-Node Wallet with CPU/GPU mining support were launched.

The specific time of token swap will be released at a later date:
• After the reliability and stability of the network have been fully verified;
•When the whole network computing power is not less than 100 MH/s;
•When the number of nodes exceeds 1000.

Waltonchain progressive reward mining program

The Waltonchain team will evaluate the node number, operational security, stability, and overall parent chain network hashrate. When the evaluation result meets the security conditions, the wallet will be updated and the genesis block will be reset. Previous mining rewards in WTCT will be given to the miners in the ratio of 1:1 in the reset genesis block through the Waltonchain Foundation account.

The WTC token swap and the reward program after WTC token swap will start simultaneously.
-The ERC20 WTC token on Ethereum is called WTC token.
-Between the mainnet launch and the genesis block reset, the tokens running on the Waltonchain are called WTCT.
-After the mainnet is stable, the wallet software is updated and the genesis block is reset, the assets running on the Waltonchain are called WTC.


Reward program before WTC token swap

Normal wallet account – will be awarded 2WTCT for successful mining of each block.
MN wallet account – will be awarded 2+1 WTCT for successful mining of each block.
GMN wallet account – will be awarded with 2+1 WTCT for successful mining of each block and upon token swap, an additional WTCT per mined block will also be awarded to GMN wallets. So, a GMN wallet account will receive 2+1+1 in total.

Blocks per day – 24×60.

Reward program after WTC token swap

The mainnet Waltoncoin (WTC) reward program will start after the mainnet runs smoothly, the wallet is upgraded and the genesis block is reset. The total reward pool is 30 million WTC. For PoW+MN wallets, 25 million WTC is allocated. For GMN and PoS wallets, 4 million and 1 million WTC is allocated. The rewards will be sent after the WTC token swap.
PoW + MN – 2500 WTC (reward is not reserved and will be given to miners for each mined block as the mining reward)
GMN – 400 WTC (reward is reserved by Waltonchain Foundation). Will be given to miners every six months.
PoS – 100 WTC (reward is reserved by Waltonchain Foundation)

Airdrop

The Waltonchain Team is planning to reward our GMN holders with initial WTC Tokens airdrop.

1.Qualified Accounts: Accounts which have been holding 5000 or more WTC Tokens since 00:00:00 UTC on December 10, 2017, i.e. Guardian Masternode accounts will receive 700 WTC Tokens.

2. Before 00:00:00 UTC+8 on April 17, 2018, Waltonchain team will airdrop the WTC Tokens to the qualified GMN addresses.

The airdrop is for GMN accounts only. All qualified GMN will receive 700 WTC regardless of the amount of WTC each GMN holds.

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Cameron works tirelessly behind the scenes ensuring his many US news stories are factual, informative and brought to you in a timely fashion before most other media outlets have them. He is an investigative journalist at heart who also has a fond interest in the money and business markets too.

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