Abstract
Today, there is a need to have more platform that discuss more about blockchain technology and also more exchange. This will give millions of people in every part of the world the opportunity to know more about blockchain technology and understand it better. The Universal protocol dream is to assist decentralized ledger technology to achieve mainstream adoption as a universal process for transferring value on the internet. The Universal Protocol Platform is a transformational development for the entire blockchain industry, which is going to allow all cryptocurrencies to be exchange easily on a single network. The team behind the Universal Protocol Platform is made up of people that understand business, marketing, branding and blockchain technology.
INTRODUCTION
Today, there is a need to have more platform that talk more about blockchain technology and also more exchange. This will give millions of people in every part of the world the opportunity to know more about blockchain technology and understand it better. Blockchain technology has become a very important part of every part of the world economy. People in every part of the world are now use blockchain technology to solve real life problem. And Universal protocol is an alliance of like-minded blockchain pioneers and cryptocurrency companies. The Universal protocol dream is to assist decentralized ledger technology to achieve mainstream adoption as a universal process for transferring value on the internet. The Universal Protocol Platform is a transformational development for the entire blockchain industry, which is going to allow all cryptocurrencies to be exchange easily on a single network.
Universal Protocol Platform is going to introduce a system called foundational architecture for interoperability between blockchains, which is going to enable users to purchase exposure to multiple cryptocurrencies on a single network, and it will give developers in every part of the world to be able to select the most acceptable protocol for their individual projects. This is possible by making a blockchain readily compatible with the Ethereum platform and its ecosystem of DApps, smart contract and decentralized exchanges. The Universal platform makes use of new proven technologies and mechanism (just like the outstanding pace that was set by the developments of the early internet).
Since the platform make use of blockchain technology it will be very easy for millions of users around the world to be able to convert crypto currencies to the Universal Proxy Tokens. The platform is created on a solid financial foundation because it is anchored to a established and fully transparent asset reserve. There will be a matching system that will tell the value of every Universal Protocol Token underlying all the assets held in custody.
UNIVERSAL PROTOCOL TOKEN
The platform is going to make use of their own platform token which is a very essential innovation as it will represent the value of every digital asset and make it available, accessible and seamlessly convertible by just a single blockchain network. The platform is designed and built on the extension of the ERC-20 standard, the Universal Proxies have make available smart contracts that make use of IFTT (if This, Then That) concept to find out the validity of every transaction on the on-chain. For instance, they can connect with the Universal Protocol Platform’s issuance contracts to be able to calculate how many Universal Litecoins are required to purchase onr Universal Bitcoin.
Universal Proxy Tokens are an important innovation because they can represent the value of any cryptocurrency (or other asset) and render it accessible and seamlessly convertible through a single blockchain network. Built on an extension of the ERC-20 Standard, Universal Proxies have embedded smart contracts that use IFTT (If This, Then That) logic to determine the validity of any transaction on-chain. For example, they can interact with the Universal Protocol Platform's issuance contracts [the mechanism by which Universal Proxy Tokens are matched to underlying assets and priced] to calculate how many Universal Litecoins are required to buy one Universal Bitcoin. If the conditions are met, the agreements will execute instant trade and settlement.
PROBLEMS
One of the biggest challenges facing blockchain technology is what Universal Protocol Platform address by allowing payment to be instant and seamless transfer of value across different decentralized networks which gives a common language by which incompatible protocols will be able to reason with one another.
SOLUTION
Security and Convenience
Universal Protocol Platform will build a foundational architecture which will allow users from every part of the world to be able to interact with multiple cryptocurrencies on a single blockchain.
TEAM
The team comprises of people who understand business, marketing, branding and blockchain technology.
CONCLUSION
This is a unique project with outstanding idea, features and concept that will give millions of users in every part of the world the opportunity to be able to exchange digital currencies easily without any stress.
For more information on Universal Protocol Platform, kindly visit this links.
Website: https://universalprotocol.io/
Telegram: https://t.me/universalprotocolplatform
WhitePaper: https://universalprotocol.io/static/documents/whitepaper.pdf?version=5.3
Medium: https://medium.com/universalprotocol
Twitter: https://twitter.com/UPPlatform
Facebook: https://www.facebook.com/UPPlatform/
Reddit: https://www.reddit.com/r/universalprotocol/
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