Recently, projects dedicated to the joint use of property are gaining popularity. Car sharing allows you to exchange cars on long journeys, Airbnb gives you the opportunity for free or on very favorable terms to settle in other cities. You can exchange almost everything, including work (wework) or education (khan academy). However, all these applications are built on centralized systems, which makes them not sufficiently reliable.
Centralized Applications Have the Following Disadvantages:
- Lack of personal data security-some companies sell their clients ' personal data to data brokers.
- High commissions-centralized systems require users to pay for the work of their employees, thus creating excessive commissions. As a result, the benefit of using the system becomes minimal.
- Lack of trust-to fully use the application you need to earn the trust of the system. Otherwise, we have to pay for the company's risks.
- A large number of different platforms, each of which requires a separate registration and has its own trust counter.
The Decision from UCHAIN
The UChain platform is created to integrate all possible types of exchange projects into it. Thus, thanks to the blockchain technology, it becomes possible to create any application for decentralized organization of distributed use.
The use of blockchain technologies in this direction is able to solve the above problems and provide many advantages for users.
First of all, it will provide an opportunity to quickly and safely carry out transactions within the system. These advantages are achieved through the use of the RPCA algorithm. The platform uses the consensus algorithm developed by Ripple, which provides almost instantaneous transactions without delays. This will create the most comfortable conditions for users. The functioning of the algorithm is based on the fact that nodes regularly send each other requests and choose the leader with the correct block of transactions. Then all nodes check the block version with their version and wait for the next vote. This method provides maximum security and high speed of confirmation.
The use of a decentralized network will reduce the cost of commissions since P2P relations will be created between users and there will be no need to pay for the work of intermediaries.
It is planned to create a fragmented system of personal data storage. Thanks to this, all user data will be encrypted and divided into parts stored in different places. If an attacker gains access to one of the nodes, he will still not receive information.
Each user will have their own "passport" inside the system. It will show the user's history, how reliable the user is and whether it can be trusted. All information will be stored inside the blockchain in encrypted form, so without the permission of the user, it will be impossible to access the information. The passport will contain information about the place of residence, education, travel history and other information.
The platform will use two types of tokens:
UCN-will be used for all kinds of decentralized applications on the basis of UChain as a means of payment. This token will also be used to reward users.
UCP is the second type of token in the system. UCP cannot be purchased, it can be obtained by blocking UCN. UCP token holders will be rewarded for long-term token storage.
Conclusion
The development team already has experience with such projects. They have created a U-bicycle app in which users can rent bikes. The application works successfully in Asia and North America. We can say with confidence that the developers know all the nuances of this business and are ready to create a universal platform to work in this industry.
It’s should be noted however that Uchain had its token sale(Private and presale) and was able to raise 35,000 ETH.
For More Info Check The Links:
• Website: https://uchain.world/
• Telegram: https://t.me/UchainEcosystem
• Medium: https://medium.com/@uchain
• Twitter: https://twitter.com/UChainEcosystem
• Reddit: https://www.reddit.com/r/UChain/
