A brief overview
1: Purpose of the coin
What is UCHAIN? UCHAIN is a public infrastructure blockchain network specifically designed for the global sharing economy. UCHAIN came about to create a decentralized trust ecosystem where every publisher, content provider or users can confidently share their contents and value easily and freely without involving any intermediary. Through this every user and merchants will be adequately empowered. This will be done in collaboration with other sharing economy enterprises.
2: Does it solve a real problem?
Yes, it does. Since all most exchange of services and values in the present sharing economy need to be managed and distributed through intermediaries, it brings up some substantial shortcomings such as:
A: Excessive Transaction Costs
B: The Problem of Trust
C: Data Leakage and Abuse
3: Investors
Institutional investors
4: Partners
UCHAIN is partnering with U.B. Group Holding as their major executive partner
U.B. Group Holding currently own the following ventures:
X-Bike (also known as Campus Bike)
Frontier brand for sharing bicycles in Chinese Colleges.
LocalKing (also known as Leek-U-bicycle)
The Taiwanese transport sharing market leader.
GrabCycle
Joined Southeast Asia leading transport sharing enterprise Grab in founding Grab Cycle.
U-Park
Pioneering brand for Smart parking services. Studied
U-Car
Innovations brand for Car sharing services.
Organizational partners
A: benefit: they will promote UChain’s sharing transport solutions more efficiently.
B: Benefits: Grab, which is the leading transportation network company in Southeast Asia will help uchain to strategize a localized transport ecosystem.
C: Benefits: They will work with uchain to facilitate its offline operations.
D: Benefits: Conducting manifold cooperation with China Unicom in IoT to provide sound solutions with supporting hardware.
E: Benefits: Uchain aims to work with the local life service platform to provide better experiences and services.
F: About: The World Blockchain Organization (WBO) is an international advocacy organization will work with Uchain to ensure its objectives are met.
5: UCHAIN’s ecosystem
Roles in the UChain Ecosystem
In the uchain ecosystem there are two roles that drives it, users and developers. Users can be further divided into the 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.
Users
These are the foundation of the whole ecosystem. Service users can pay UCN for any interesting service provided on the DApps based on UChain or simply make transactions on UChain’s P2P transaction platform which serves as the token’s utility. Independent service providers can acquire UCN either by contributing their idle resources or properties through the DApps.
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.
All enterprises that join the UChain ecosystem not only acquire additional user resources but also enhance their values by cooperating and participating in the development of the UChain sharing economy network.
Independent Developers
Developers are the force in the UChain ecosystem. UChain has been an open ecology from day one. Uchain aspire to develop an open and trustworthy platform with the employment of blockchain technology. Capable individuals or organizations can participate in the development of UChain infrastructure or DApps.
ALL YOU NEED TO KNOW ABOUT URC-1 STANDARD DIGITAL ASSET
URC-1 Standard
UChain provides sharing service providers with the ability to issue and manage their own tokens. Sharing service providers (individuals or organizations) are free to distribute digital assets according to the URC-1 standard. Users can invest in these digital assets to gain from their development.
URC-1 Standard: The URC-1 standard is an interface standard for token issuance on UChain. It is a markup API that allows tags to be implemented in smart contracts. The standard provides basic functions for transferring tokens and allows the token to be approved so that it can be used by the third party. The standard interface allows any token on UChain to be reused by other applications from wallets to decentralized exchanges. API documents and example code will also be provided.
6: What is the Consensus Mechanism of the Coin?
Consensus Mechanism (RPCA)
When choosing a consensus mechanism algorithm, UChain considered several mainstream algorithms, including POW, POS, DPOS, DBFT, and RPCA (Ripple Protocol Consensus Algorithm), and finally chose RPCA as UChain's consensus algorithm utilizing the fact that RPCA is designed primarily for transaction speed, aligning with various scenario needs in the sharing economy. The information can be broadcasted efficiently to every node in a few seconds with high performance and high Byzantine fault tolerance. Moreover, the RPCA algorithm has been proven robust and effective with Ripple.
The RPCA algorithm completes the transaction in two stages, the first is to achieve consensus on the transaction set, the second is to propose the newly generated block and add it to the blockchain.
Uchain Token sale information t
The UCN total supply:
This will be determined at the end of the ICO and will raise 35,000 Ethereum
The Private Sale:
33,000 ETH with a 50% bonus, half the funds will be locked for 6 months.
The Public Presale:
2,000 ETH with a 15% bonus, the bonus portion will be locked for 3 months
For more comprehensive information go through this links
UCHAIN Website: www.g0blin.com/UChain
UCHAIN Official Telegram: https://t.me/UchainEcosystem
UCHAIN Announcement Telegram: https://t.me/UchainAnn
UCHAIN Bounty Telegram: https://t.me/UChainBounty
UCHAIN Twitter: https://twitter.com/uchainecosystem
UCHAIN Medium: https://medium.com/@uchain
UCHAIN Reddit: https://www.reddit.com/r/UChain/
Author’s Name: Ume Victor M.
Author’s Steemit link: https://steemit.com/@victorume
Author’s Username:
Author’s Eth wallet: 0xe711168f1ec8D5816B0Cab5df482BFF6caeaC830
