The digital money system is developing very fast, individuals are hearing it, and an ever-increasing number of individuals need to take in more about it and observe approaches to be a piece of it. Blockchain innovation is a straightforward computerized record of exchanges and records that are safe to change or cancellation. Offering extra attributes of expanded security, bring down costs, time effectiveness, and mistake opposition, blockchain has risen, varied in 2017. The utility of blockchain innovation is boundless, starting the developing rundown of organizations, enterprises, and government investigating its potential reception.
Alongside the fast development, there are a few issues uncovered in this troublesome business, for example, Excessive exchange costs :Centralized stages charge high commission expenses for benefit matchmaking. The issue of trust :There is no successful credit framework reflecting both individual credit and association credit. Information spillage and abuse : Centralized information stockpiling system can without much of a stretch prompt information spillage and abuse.
Good day guys. Today i will be discussing a project with its major concept of creating a platform for global sharing. The name of the project is UChain.
What is UChain?
UChain is basically a platform that facilitates the development of dApps that utilize a sharing based economy and considered as the first public infrastructure blockchain. UChain aims to build its underlying blockchain network to solve the current problems of trust and data abuse.
The pith of blockchain is a self-sufficient shared system. It can accomplish a carefully designed, decentralized and completely self-ruling environment that everybody can take an interest in, which concurs with the idea of the sharing economy. The sharing economy is a distributed plan of action that would be in an undeniably propelled state with the use of blockchain. The thought behind the network self-rule would motivate individuals around the globe to take part in and advantage from the improvement of UChain.
How the Eco-system works
The UChain ecosystem will have two major roles that drive the ecosystem, users and developers. Users can be categorized in service users, independent service providers, and enterprise service providers. Independent developers or UChain foundation developers create and maintain the infrastructure. They interact with each other, establishing their distinct values to make UChain a better ecosystem.
Enterprises: Enterprise service providers can develop specialized DApps with UChain infrastructure to provide services. They will be paid with a matching amount of UCN by the automatic payment functionality implemented in smart-contracts, after user’s use of the DApp along with the incentive UCN provided by the ecosystem. Enterprises can also pay UCN for UChain’s infrastructure services and UChain will purchase UCN back depending on the development of the whole ecosystem.
Through API or SDK on UChain’s open platform, enterprises in the sharing economy can build DApps or simply migrate their existing app onto UChain. After completing registration as a third-party operator they will receive value-added services which include the ability to obtain new customers and tokens. The open platform will provide services that include the use of smart contracts, automatic split payments, key data on chain inquiry, UIP, user credit ratings and a series of marketing functions.
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.
FEATURES OF THE PLATFORM
BENEFITS OF THE UCHAIN PLATFORM
Peer to peer network:Decentralized peer to peer blockchain network with smart contract to cutoff intermediaries.
Distributed data storage:Encrypted data shredded and stored on different nodes to improve data security.
User Credit Passport:Cross application user credit passport with a proprietary credit rating algorithm to effectively record user behaviour.
Token Incentive: Tokenized ecosystem to increase participation and engagement of both users and enterprises.
Digital Wallet
UChain will provide digital wallet services for all participants in the UChain ecosystem. They can store UCN and any other URC-1 tokens in their wallets. UChain will also integrate a decentralized exchange (DEX) in the wallet to realize the exchange of different tokens in each sub-ecological ecosystem in UChain to meet the demands of all participants, building UChain as a healthier and more dynamic ecosystem.
About the Token (UCN)
UCN is the basic unit on UChain. The value of all other tokens is derived from UCN. Those who wish to join or leave UChain ecosystem must buy or sell UCN.
Staking: UChain will incentivize holders who keep UCP for a long time by granting them UCN, the distributing rate will be dynamic so people who hold and lock UCN for a long time will get extra bonuses. UCP is not exchangeable nor tradable.
By investing in long-term value, the whole ecology can achieve its ideal vision besides making short-term gains. At the same time, token holders will enjoy vitality from the development of our ecosystem. Long-term holding by community members will be the backbone of UChain’s ecology. In the world of cryptocurrency, we see short-term investors continuously looking for cryptocurrencies with higher potential value. UChain aspires to build an autonomous ecology full of people with shared values.
OFFICIAL PARTNERS OF THE PROJECT
Talking about the token sale. The pre-sale organize is as of now finished and the UChain group settled on an imperative key choice and chose to drop the group deal. Amid the pre-sale organize, they gathered in excess of 35,000 Ethereum and they chose, that it would be sufficient. I need to compliment the fortunate once, who partook in the pre-deal arrange and got some of UCN tokens. Also, recall, that a few tokens will remain bolted, around till October. For those, who did not partake in UChain token deal, I would prescribe to take after the updates and get a portion of their tokens as soon, as they will go live on trades.
For more information visit the links below
Official website: https://uchain.world
Whitepaper: https://uchain.world/css/img/pdf/uchain-whitepaper-dbe5656d6c.pdf
Blog: https://medium.com/@uchain
Twitter: https://twitter.com/UChainEcosystem
Telegram: https://t.me/UchainEcosystem
Reddit: https://www.reddit.com/r/UChain/
Author Profile link: https://bitcointalk.org/index.php?action=profile;u=1918721
