_universa .io
_block chain
_platform
_white pepper
Table of contents
_ synopsis
1 abstract
2 overview
3 what is Dose
_ implementation
1 block chain
2 proof of state
3 actor
4 smart contract
5 attaching files
6 time stamp
7 Marker
8 nodes
9 clients
_ token economics
Pre-sale and token generator event
Circulation & spending plan
Budget + spending plan
_ Development potential
Additional services
_use case example
1 token contract
2 common token
3 bank backed tokens
4 invoice contracts
5 escrow contracts
6 digital exchange or stock Market
7 selling an apartment
8 digital autonomous organization "DAO"contracts
Universa.io
Overview
Universa platform is a new generation of blockchain technology. It uses contract execution machine and distributed state ledger design to improve on bitcoin and ethereum technology by delivering improvements that's are imperative for business adoption with an emphasis on tokenization and
contractual agreements. Where traditional blockchains transact primarily in currencies, Universa is designed to
support token representation of everything from passports to boarding passes, bus tickets or taxi fares; they
can be gift cards, vouchers, or gym membership cards. You might make a token representing your title deed, or
just the keys to the house.
While traditional blockchains record a full trustless ledger of all actions, transactions and their effects
on a network (“fat protocol, tiny logic”), Universa improves speed and usability by maintaining an directed graph
of the verifiable hashes of the output of all actions (“tiny protocol, fat logic”). In other words, instead of
stacking blocks to make a single full ledger, each set of changes to a contract is applied by the clients in a
separate contract chain (“C-Chains”) to the previous state, and the outcome is vectorized and hashed – only a
signed signature of the state of each side-chain gets updated as the new status of the blockchain, discarding
the old state and storing the new one. Still, each chain keeps it's own history, and any node with a copy of the
transactions can attempt to replay them and verify that the outcome is the same, which ensures validity and
fairness in a trusted environment.
In a business-critical derivation from traditional blockchain technology, Universa does not rely on
untrusted actors from the general public. Nodes in the Universa system are owned and operated by our
partners; they must be licensed and authorized by Universa Corporation. They are trusted, trained, and audited;
they provide guarantees of availability, speed, and security. Rather than mining for incentive – a wasteful
activity which needlessly consumes gigawatts of power across the globe every hour yielding nothing – instead
all nodes are rewarded via transaction fees for their participation in the validation and execution of contracts.
The only “work” being done on the machines in the Universa cloud is mission-critical data handling and
contract execution, and does not require expensive GPU hardware. Sensitive business data is not stored
flippantly and unwittingly in unknown reaches of the globe, it is encrypted and regulated by strict organizational
security practices (ISO 27001, 27002) making it finally possible for enterprises to trust a blockchain with sensitive or private business processes .
What it does
Universa Platform is powered by the Universa Network – a swarm of Universa Core clients
running on nodes composing the Universa Blockchain, and supporting the Universa Secure Signed Document
Service (codenamed “Notary Cloud”). The Blockchain is only responsible for enforcing the validity of the state
of transactions, while Notary Cloud acts as a verifiable warehouse for signatures of the original contracts.
For example, if a contract is executed that defines a “token” asset and distributes 1 token to each of
10,000 parties, only the hash-of-the-state of the final balances would be stored and saved onto the full
blockchain (about 90 bytes), rather than a full accounting of all ten-thousand transactions and the balances of
all user accounts, as is the case in Bitcoin or Ethereum; therefore, any future node connecting to the network
would then benefit from over 99.99% size reduction in synchronizing this particular execution from blockchain,
and it need only to retain the short hash of the current state at this block height to verify it. Furthermore, since
the hashes from each contract are summarized into the master Universa chain via directed acyclical graph
(DAG), rather than a naive synchronously-ordered blockchain, it's possible for asynchronous actions from
different contracts and replays to occur out-of-order and still yield the same final hashes of global state.
The network is designed in this way, around contracts and their executions – “a transaction” – and each
time an action is to be performed, all nodes are transmitted both the current state of the contract and the
source of the operation to be performed. The state and the source are verified by hash-sum to be identical to
the stored current state of the contract's side-chain (“C-Chains”), the operation is applied, and then the new
state is hashed and agreed upon by 90% consensus; after a short period of time (10 days currently), the nodes
are free to discard both the contract and the state – their hash sum signatures are stored in the Notary Cloud
so later, the original contract can be supplied to the nodes and proven authentic – and only the hashes need be
retained by nodes in the swarm. In this manner, the transaction speeds are hugely improved and the size of the
blockchain is reduced to just enough information to verify the complete historical ledger. To verify a particular
C-Chain, such as in triple-ledger accounting of the validity in a currency-like contract's balances, any actor may
retain the contract source and transaction history (requesting, if necessary, that it be verified by Notary Cloud)
and replay the actions, comparing the hash to the current value at the present state in the ledger.
_ implementation
Blockchain
The Universa blockchain is a cooperative ledger of state changes, performed by
licensed and trusted nodes, and is capable of handling thousands or tens-of-thousands of transactions per
second(±20,000TPS,It achieves this by performing contract executions on-client
and verifying their output by 90% consensus algorithm in the creation of each new block. The blockchain
doesn't need to store a full history of all transactions, as these can be kept in the side-chains by each actor
responsible for executing them. Anything that would usually be stored in a blockchain on another platform –
transaction records, contract sources, and digital signatures – can be later verified for authenticity in the
associated Notary Cloud service, which is responsible for handling assets and their digital signatures, but is
separate and distinct from the blockchain (which increases transaction speed and synchronization times).
_ proof of state
The Universa Nodes primary function is to
execute contracts and verify state. Rather than
relying on archaic mining techniques that burn
clock cycles for no reason, in Universa,
permission to create new blocks comes from
participation as a licensed node. Therefore,
rather than waiting for a new block to be mined,
a state change can occur at any time, verified
by a trusted actor, and often approved by
consensus in less than ten milliseconds even
at scale. Each separate contract maintains its
own chain of state, so a contract can perform actions asynchronously without blocking or affecting other
Demand
Execution of Smart Contract actions requires transaction fees paid in UTN to reward participating
nodes for the processing power they supply to the network and sustain the ongoing development of the
Universa platform. Nodes will keep 80% of the transaction fee, and 20% will go to Universa Corporation. Each
day, 1% of the fees retained by Universa will be permanently destroyed, or "burned", removing them from
circulation and causing a deflationary effect on the currency in perpetuity.
Budget + Spending Plan
Universa's token generation event is designed to garner financial support from an open crowdsale of
partners who want to support our future development. Our plan is dynamic and capable of adjusting to a wide
variety of circumstances; we are conservatively prepared for a modest fundraising event and will move forward
with our plans, using only the funds raised in pre-sale even if the ICO doesn't raise another dollar. However,
optimistically, our ultimate goals and vision for the project are advanced and we're fully prepared with a plan for
scaling the company to $99 million USD or beyond. Our ICO is uncapped because we aim to disrupt many legal
and political frameworks entrenched around the globe and build Universa’s Foundation. A full budget and
spending plan, including development goals, legal structure, and research targets,
_conclusion
Universa Platform iterates cryptographic ledger technology, building on eight years of proven Bitcoin
success in the distribution of money and adapting it with the tools needed to address fundamental business
concerns and governmental compliances. With transaction throughput improved by several orders of
magnitude, built-in support for verifying document authenticity, and a network of trusted certified nodes,
Universa is able to provide necessary usability to open new avenues into enterprise adoption. As consumer
needs are increasingly served by rapid advances in Bitcoin and Ethereum technologies, Universa will continue
to lean into blockchain adoption and leverage distributed innovations to serve the reliability and security
demands of corporations.