UChain
Introduction
Hi dears, another interesting project is being started. First of all, for who missed previous entry, what’s a cryptocurrency? To be fast and concise, it is a digital medium of exchange. And the next question would be… What’s your use? It is also easy to guarantee the security, integrity and balance of your financial statements by means of a network of agents (segmented file transfer or multisource file transfer) that verify (untrust) each other called miners, which are, for the most part, general public and actively protect the network (the web) by maintaining a high rate of algorithm processing, in order to have the opportunity to receive a small tip, which is distributed randomly.
All this racket of cryptomoney has been increasing exponentially, however, most people know nothing about how blockchain technology works, what a smart contract is and how it could be used. For this very reason, I will first of all carefully introduce this type of block chain technology.
Blockchain is a decentralized general ledger. It is a computer network that has an identical copy of the database and changes its status (records) to a common agreement based on pure mathematics. All this means that there is no need for any central server or any entity we trust (e.g. central bank, notaries, banks, paypal, etc.). The blockchain is the technological basis for all cryptomontages, whether Bitcoin, Ethereum, Hyperledger, etc.
An important part of the blockchain is the smart contracts, a piece of code that is stored in the blockchain network (in each participant’s database). It basically defines the conditions to which all parties using the contract agree. Therefore, if the required conditions are met, certain actions are executed. Because the smart contract is stored on all computers on the network, everyone must run it and get the same result. This way users can be sure that the result is correct.
After this brief introduction to the broad topic of Blockchain and Smart Contracts, we can already see that this technology opens many doors to new decentralized businesses and eliminates the need for expensive third parties. Many new companies are now working on this technology, and large companies are testing it in closed networks to collaborate directly with each other without the need for intermediaries. For that reason, there is a lot of projects that are starting to use this new technology. However, not all of them are worth it. We have to read well what each project is dedicated to, what is its whitepaper, its qualified advisors, etc. As I said, blockchain technology has gained popularity due to the hype about cryptocurrencies which has shaken many startups to launch their own cryptocurrencies even without convincing fundamentals. This trend has emerged because new entrants have been more agile in adopting emerging technologies compared to incumbents who are hampered by legacy systems. However, this competitiveness and this advantage enjoyed by the new players may be short-lived, as no economies of scale are taken into account.
For this reason, that is why I choose the best of them through an exhaustive study of the main characteristics. Today, the project I am going to present you is the Instant Assets Tokens, a better way for make property investment easier through the digitization of assets.
Presentation
Uchain is the first public infrastructure blockchain specifically designed for the global sharing economy. Along with other sharing economy enterprises, Uchain aims to build its underlying blockchain network to solve the current problems of trust and data abuse. Exercising API’s and SDK’s provided by UChain , all sharing economy enterprises are able to issue their own token and build their application on top of the UChain network, together making UChain a better global autonomous sharing economy ecosystem.
General information
Release date: ICO July 10, 2018
Site: https://uchain.world
Hardcap: $20.8 million
Principle: Infrastructure block for sharing economy
Competitors: Origin Protocol
Issue: 10 billion max
Lock up:
For Private-Presale, the lock will be 6 months to 50% of the tokens. For Public-Presale — 3 months lap on the bonus.
For the team for 3 years, with unlock to 1/3 every year.
Team
He is the founder and CEO of U-Bicycle, the world’s fourth largest platform for bicycle sharing, and is also one of the founders of DianPing.com, a fairly large Chinese platform for e-commerce.
CEO of U-Bycicle North America, founder of SG International Travel LTD, CEO of Dozenfresh International Trading. SG International Travel LTD Dozenfresh International Trading is a beginner start-up.
Specialist in IoT and improved data transmission and security. He was the manager of the smart device department at U-Bicycle.
Jason has a 3-year experience in developing block chain circuits. He was co-founder of HiCircle, a consulting firm on block-related technologies. He was also a senior development engineer at IBM China.
He worked as a senior strategic specialist in corporate technologies in Microsoft Enterprise. Currently also teaches at the University of British Columbia Sauder Business School.
Brand manager Glaxo Smith Kline (British pharmaceutical company), global marketing manager for Microsoft, CMO in U-Bycicle North America.
Director of operations at the international trade fair Dozenfresh, director of operations for the city of U-Bicycle in North America.
Many members of the team, including the founders, previously worked for U-Bycicle. It is difficult to call their work a positive experience, looking at the extremely poor ratings of the Ubicycle application from users.
Advisors
Partner of the Draper Dragon Foundation. He has more than 20 years of experience in technical marketing in the field of high technology, and is also an adviser in Skrumble Network.
CEO APEX.
CEO of RedPulse (the first project that ICO conducted on the NEO platform.
Partner, Badwater Capital.
Managing partner Ledger Capital.
Vice President of BTCC. BTCC — One of the oldest crypto-birzes, and also simultaneously and mining pool.
Technology and Use Case
Let’s begin with the analysis of the market: the size of the global sharing-economy market for 2018 is about 500 billion dollars.
There are some problems in this market, such as:
· Excessive transaction costs
· Absence of an effective credit system reflecting the parties involved
· Data leakage and abuse
And the UChain project is planning to become the platform that will solve these problems.
Implementing APIs and SDKs provided by UChain, all joint ventures of the economy can release their own token and create their application over the UChain network.
In the sharing-economy 1.0, intermediary platforms play an important role, facilitating transactions between users, while charging commissions for this service. In the new era of sharing 2.0, users are connected peer-to-peer without intermediaries and commissions, and all transactions are resolved in the local token.
That is, their vision of the future is a tokenization of everything. And UChain in this future should become a platform for tokenization (as it will be released tokens of other companies) and the functioning (through the SDK and API) of companies in the field of sharing-economy.
But why would these companies need an intermediary in the form of UChain — a big question.
Technologies
Through the API or SDK on the open UChain platform, enterprises in the sharing economy can create DApps or simply transfer their existing application to UChain. After completing registration as a third-party operator, they will receive additional services, which include the ability to receive new customers and tokens. The open platform will provide services including the use of intelligent contracts, automatic split-payments, key data on the query chain, UIP, credit ratings of users and a number of marketing functions.
The consensus algorithm of UChain is the RPCA (Ripple Protocol Protocol Algorithm), which is used by Ripple. The main purpose of the RPCA is for the speed of transactions, which also corresponds to the scenarios of the shared economy. This information can be effectively transferred to each node in a few seconds with high performance and high Byzantine fault tolerance.
This consensus algorithm was chosen by the project not by accident. On the UChain platform, tokens will be issued for existing companies. Basically it will be small private blockers with their tokens. And the RPCA consensus algorithm is ideal for such networks.
Consider the ecosystem by users and suppliers.
User
Users are the basis of the whole ecosystem. Service users can pay UCN (internal system token) for any interesting service provided to DApps based on UChain, or simply make transactions on the Uchain P2P platform. Independent service providers can obtain UCN by providing their idle resources or properties via DApps.
Supplier Company
Corporate service providers can develop specialized DApps with Uchain infrastructure to provide services. They will be paid by the appropriate amount of UCN using the automatic payment function implemented in smart contracts. Enterprises can also pay UCN for UChain’s infrastructure services.
Token
Token: There are 2 types of tokens: UCP and UCN
UCP for voting
UCN — for internal transactions
Investors and partners
Alipay: a third-party platform for mobile and online payments in Hangzhou, China
- China Unicom: Chinese state telecommunications operator
- WBO: Worldwide Organization Blockchain
There are no official confirmations from the partners. Funds, to put it mildly, are not the top, mostly Chinese funds focused on the domestic market.
Roadmap
Testnet is scheduled to go live Q3 2018
- Mainnet is scheduled to go live Q4 2018
Maybe just this, the reviews I made in terms of helping and telling everyone to, participate in the ICO or Bounty campaign they run today.
If there is any shortage in this review information, please maff for your inconvenience in reading or searching for Information, but do not worry I have provided a link you can visit, to find out more about the UCHAIN project, and surely you will get reliable Information from the team as well as the Founder of the UCHAIN project.
All information in great detail you can find on the website of the project UCHAIN There are also links to all social networks of the project, through which you can receive in detail and in time news and observe the process of development and establishment of the platform.
WEBSITE — https://uchain.world
TWITTER — https://twitter.com/UChainEcosystem
TELEGRAM — https://t.me/UchainEcosystem
Medium — https://medium.com/@uchain
Reddit — https://www.reddit.com/r/UChain/
Bounty program — https://www.g0blin.com/uchain/
author:salsa24
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