Universa: new generation blockchain protocol
Universa Platform offers a new generation of blockchain technology. It improves on Ethereum and Bitcoin blockchains by using a contract execution machine and distributed state ledger, focusing on tokenization and smarter contracts.
While conventional blockchains deal mainly in currencies, Universa tokenizes everything from boarding passes and bus tickets to passport, gift cards, gym membership cards and vouchers. Traditional blockchains keep a full ledger of all transactions and their network effects (“fat protocol, tiny logic”), while Universa enhances usability and speed by recording a graph of the verifiable hashes pertaining to all actions (“tiny protocol, fat logic”). A set of changes to a contract is recorded in an individual contract chain (“C-Chain”), and the result is vectorized and hashed. Thus only a signature of the state of each side-chain is updated. Each chain stores its history, and any node having a copy of transactions can replay them and verify that the outcome is the same.
– A new generation of blockchain technology
Universa was developed as a protocol for smart contract creation and management, not as cryptocurrency. Consequenty, Universa does not rely on mining to keep it going.
– 1000x faster than Bitcoin
Eliminating the need for mining makes it possible to accelerate the network dramatically. The Universa platform is based on a dedicated smart contract language built from scratch. This language has a logical structure and hierarchy to support the speed of 10 000 transactions per second on network nodes.
– Transactions 100x cheaper than in the Bitcoin network
A priority transfer in the Bitcoin network costs as high as $3.85, even if the transferred amount is a few cents. This is the price one has to pay for Bitcoin volatility. Universa-based smart contracts will help cut commissions by hundreds of times.
– A conceptually new system of smart contracts
Universa makes it possible to create smart contract chains for any business cases, including:
– A smart key for a car
– A beauty salon or gym membership card
– Interlinked smart home elements
– Parking or fuel cards
– Logistic tracking
– Really smart money
Universa uses smart contracts to automate payments in any currencies and document the transaction at the same time. Universa simplifies the process of securing online loans, establishing currency exchanges, or issuing customs declarations.
The Universa blockchain first release was due in Q3 of 2017, along with Mac/Android clients and wallets release. Smart Tokens and Smart Contracts templates will be supported from Q4 of 2017. The startup is expecting to make available such features as Liquidity Ocean, Trust & Reputation Score and Blockchain Academy in Q1 of 2018. Universa Bank and Cards, the Appstore and Cryptofund will be live starting Q2 of 2018.
The mastermind behind Universa is Alexander Borodich, previously Marketing Director of Mail.ru Group and founder of Venture Club, a major crowd investment platform. He is also running a Blockchain Education Program at Plekhanov University of Economics in Moscow. The CTO is Sergey Chernov, formerly CTO at Cybiko, with 25 years of experience in software development and architecture and 17+ years in cryptography. The advisory board is studded with big names such as John McAfee, founder of McAfee Associates, Samson Lee, co-founder of Ethereum South China, and David Drake, of LDJ Capital and Victoria Partners.
Audit and reviews
The Universa project is rated STABLE+ by ICORating . The auditors have noted such strength as an interesting idea backed by technical development, open protocol development, reputation of the CEO and strong marketing support. Participation in the project is recommended for long-term investors. Read the complete audit report here.
Top five geos supplying most of the traffic to this ICO are Russia, Ukraine, Vietnam, the United States, and Germany. Nearly 46% of the traffic is direct, while 25% of the traffic is sourced from referring websites, such as Bitcoin news portals and Bitcoin ad networks. Social traffic comprises slightly over 16% of the traffic mix, with Facebook, YouTube and VK leading the way. Over 2% of the ethereum traffic is generated by ethereum ads.
The Universa token sale in in full swing, so be sure to learn more about them on their website.
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