#WalletConnect

WCT

1. **Stagnation and Execution Issues:**

* **Slow Technological Progress:** In recent years, there has been very limited public information regarding breakthroughs in Waltonchain's core technology, major mainnet upgrades, or revolutionary product launches, in stark contrast to active leading projects.

* **Weak Ecosystem Development:** There is a lack of influential DApps, partners, or practical applications to support its token economic model. The actual use cases and demand for the token are insufficient.

* **Unclear Team Dynamics:** Questions arise regarding the core team's activity level, financial status, and the execution of future roadmaps. There is a lack of community communication and transparency.

2. **Intense Market Competition:**

* **Crowded IoT Blockchain Space:** There are numerous competitors that are more active, better resourced, more technologically advanced, or have more prosperous ecosystems, such as **IOTA, VeChain, IoTeX, Helium, and blockchain IoT solutions from major cloud service providers (AWS, Azure, GCP)**. WCT lacks a clear advantage in this competition.

* **Pressure from General Platforms:** General smart contract platforms like Ethereum, Polygon, and Solana are also actively expanding IoT application scenarios, and their large developer ecosystems pose significant pressure on WCT.

3. **Community and Trust Crisis:**

* **Community Shrinkage:** Low activity on social media (such as Twitter, Telegram, Reddit) with discussion levels far from peak times. User and investor confidence is severely undermined.

* **Historical Controversies:** Waltonchain was involved in some controversies during its early development (such as marketing methods, token distribution, etc.), which has caused lasting damage to the project's reputation and trust.