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WeldChain Technology

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  • Blockchain The WeldChain platform was initially developed on the Ethereum blockchain with our Proof-of-Concept running on Ethereum test networks.  Through the proof-of-concept phase, limitations with the Ethereum platform regarding cost, speed, smart contract size and off-chain document storage became evident.  We do not believe that the recent Ethereum transition from Proof-of-Work to Proof-of-Stake will resolve these issues relative to our use case.  As a result, we will be launching our MVP data exchange on a distributed ledger platform that better meets our needs regarding cost, speed, complex smart contract support, on-chain document storage, off-line data collection while preserving the security and immutability that blockchain technology provides.        

  • Distributed Applications The WeldChain application is deployed as a distributed application for both desktop and mobile access.  As a distributed application it is not controlled by a central entity, but is maintained by multiple nodes, ensuring low-cost, robust operation free of interruptions.

  • Smart Agreements Transactions on the WeldChain are managed by data sharing agreements secured within tokens.  These agreements are open to all parties to the agreement to audit and, once deployed, will only be updated by agreement with all parties.

  • Token Rewards WeldCoins are platform-specific tokens used to transact on the WeldChain.  Users who add verified transactions to the WeldChain will earn WeldCoin and users who need to extract information from the WeldChain will need WeldCoin to enable the transaction.  The   The value of the WeldCoin is fixed, but the amount of WeldCoin earned and required to extract information will be set by the WeldChain market based on reduced cost for the producers and consumers of welding information.  These tokens can be acquired with purchase orders or credit cards and can be redeemed for cash, discount coupons, gift cards, cryptocurrency or charitable donations.

  • Cryptography WeldChain uses public/private key cryptography to ensure security and privacy.

  • Internet of Things (IOT) WeldChain uses IOT APIs to connect with welding, biometric and inspection equipment for secure and efficient transfer of welding information to the blockchain.

  • Identity and Certifications WeldChain uses the W3C Verifiable Credential (VC) and Decentralized Idenfitier (DID) data models for identites and certifications related to organizations, people, parts and machines.

Thank you to our amazing partners and collaborators!

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