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, the project I am going to present you is Universal Labs, a project that aims to create a hardware device designed for personal storage in the cloud adressed to individuals and businesses, called Ubbey Box.
Definition
As I said before, Universal Labs (ULABS) (ulabs.technology/) is the first platform based on blockchain that, thanks to this new technology, creates a very simple and effective solution to take advantage of all the benefits of personal clouds without any inconvenience.
Goals
Through the use of blockchain technology, the main objective of Universal Labs is to take advantage of all the bene fi ts of personal clouds without any of the disadvantages through a very simple and effective solution.
Benefits
The Ubbey Box design bring a lot of benefits like following:
- It allows the exchange of ownership of digital physical assets in a peer-to-peer manner.
- It can be used as a personal storage in the cloud for individuals and companies.
- Provides the user with a large amount of secure data storage space, with 1 TB or 2 TB options available in the fi rst version
- It allows users to backup or store in one place and access file from anywhere at any time. Users can connect Ubbey - Box with different devices, including, among others, media players, game consoles and smart TVs.
- Ubbey Box can also connect with several smart devices in the future.
- Ubbey Box also acts as a miner in the Bitcoin network.
- The Ubbey network block creator will be randomly selected from the Ubbey box nodes based on the Proof of Storage consensus algorithm.
- Users can extract the TOK token by sharing their personal storage space and be rewarded with the TOK token as an incentive to enhance and protect the network.
How it works
The Ubbey Box has three main work systems:
a) On the one hand, the Ubbey Box is the personal storage in the cloud for users in which they can access from anywhere with dizzying performance and unparalleled comfort.
b) The most important thing is that Ubbey Box acts as a connection point for the Ubbey network.
c) Finally, it is also used to mine for YOU Coins by connecting the storage space around you to the network, as well as using your own storage space.
Roadmap
Airdrop
The project gives the opportunity to earn Universal Labs (YOU) tokens performing some social media tasks and doing simple steps from the bounty program explained into the Bounty0x platform. Here (https://alpha.bounty0x.io/bounties/140462) you can access to the link in order to see what are the conditions to become an early YOU contributor and start acquiring tokens.
Doesn't that sound interesting? If you are interested in this airdrop or basically in the ICO, you can read their Whitepaper here (http://ulabs.technology/images/Universal-Labs-WhitePaper.pdf). You can also stay tuned in their official Telegram group (https://t.me/universallabs). I hope you liked the post and soon I'll send you new ones.
Extra details
Token: YOU
Platform: ETH
Type: ERC-20
ICO price: 1 ETH = 100,000 YOU
Tokens for sale: 4,000,000,000
Author Details
Email: adria.parcerisas.albes@gmail.com
Bitcointalk username: adriaparcerisas
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1870482
Ethereum address: 0xC6AB45541006D53D31E25b41c7d245c5Ad99BF71