RFID technology is a communication technology by which two or more devices can communicate. Unlike Barcode, RFID does not need line-of-sight communication. It is the key technology behind IoT. The technology enables communication with objects up to 10m distance. This makes it a better option than Barcode. In simple terms, RFID technology consists of two key parts: RFID tags and RFID readers.
Most of the existing RFID chips cannot meet the demands of IoT development. Even the chips, which have the necessary processing power are costly and requires an improvement in the transmission power and stability. Furthermore, the chips, which are readily available in the market, have low reception sensitivity and the anti-interference ability is not up to the mark. Most importantly, Waltonchain will not have total control over the core technology if it opts for a regular chip that is available in the market.
To have total control over the technology, Waltonchain has partnered with Silictec, which is well known for its strength in RFID chip research and development. Being Waltonchain’s technical support partner, Silictec will design the chip. However, production will be carried out by another foundry. Waltonchain has stated that its tag chip can be produced for less than 5 cents.
Furthermore, to resolve the issues mentioned above, Waltonchain is applying the VIoT concept, which is made up of hardware and software part. The hardware part includes RFID reader chips and tag chips. The software part is made up of Waltonchain software, Walton protocol, and Waltoncoin (WTC). The right combination of hardware and software enables VIoT to practically connect almost everything to the internet. This facilitates the easy digitization of assets.
Waltonchain has committed itself to the R&D of RFID tag IC and reader IC suitable for blockchain technology applications. The ICs are characterized by the integrated encryption and decryption acceleration module based on the existing RFID technology and a communication interface protocol suitable for blockchain technology applications. The implementation will promote the application of blockchain technology in IoT and solve the following problems in blockchain technology application:
- Each tag does not need to store node data and is responsible for signature verification only;
- Hardware automatically generates random public keys and private keys to ensure the security of IoT applications, to ensure that the tag is unique, authentic and tamper-resistant;
- Tags can reduce the amount of information stored to solve the problem of blockchain overloading with large amounts of data in IoT applications;
- Hardware Acceleration can solve the problem of slow encryption and decryption with the asymmetric encryption technology;
- Tags can help truly achieve the decentralization of property management and asset management to make the data tamper-resistant.
Liu Cai, Waltonchain CTO, said,
“Core technology is the absolute principle. Only by adhering to independent innovation can we better promote the development of China’s chip industry. Waltonchain lives up to this strategy.”
An increasing number of companies working on blockchain technology and other high tech projects prefer to have their own R&D facility to develop chips that cater to the needs of a project. This is particularly true in case of Waltonchain.