Universa ICO Date: Ends in 8th December 2017.
Universa platform is a new generation of blockchain technology. It uses a contract execution machine and distributed state ledger designed to improve on Bitcoin and Ethereum technologies by delivering improvements that are imperative for business adoption, with an emphasis on tokenization and contractual agreements.
BACKGROUND.
Over 40 years of computing advancement history has shown that earliest adopters of technologies tend to be hobbyists, followed by consumers, who are followed by businesses, and finally governments. In this regard, as quickly as cryptocurrencies like Bitcoin and Ethereum have taken the hobbyists by storm, and are now penetrating consumer wallets, businesses and governments alike are much slower to adapt and adopt. While some brave speculators are already betting their full life savings on these currencies, many businesses still won’t yet take them as payment, and most governments do not even acknowledge their status as “money”.
In these regards, cryptographic ledger “blockchain” technology can still be considered in its infancy; the now-famous 2009 whitepaper by the pseudonymous Satoshi Nakamoto describes only the first iteration of a hypothetical use-case, the digitization of money into a trustless and decentralized protocol. The second major iteration on this novel concept yielded Ethereum, a platform and virtual machine far beyond just a currency, supporting complex Smart Contract logic and a new frontier of distributed applications, or “dApps”. Neither is yet fully suitable for enterprise use cases where a degree of regulation and accountability is required.
And thus these two applications are only the beginning of a new age in human communication and cooperation. Blockchains have already begun to disrupt the transmission of monies and the execution of software logic, but the ways they will change business logic and governmental process remain almost completely unexplored.
Universa Platform builds on eight years of proven Bitcoin success in the distribution of money and adapts it with the tools needed to address fundamental business concerns and governmental compliances. With transaction throughput improved by several orders of magnitude, built-in support for verifying document authenticity, and a network of trusted certified nodes, Universa is able to provide necessary usability to open new avenues into enterprise adoption.
HOW IT WORKS.
While traditional blockchains record a full trustless ledger of all actions, transactions and their effects on a network (“fat protocol, tiny logic”), Universa improves speed and usability by maintaining an directed graph of the verifiable hashes of the output of all actions (“tiny protocol, fat logic”).
In other words, instead of stacking blocks to make a single full ledger, each set of changes to a contract is applied by the clients in a separate contract chain (“C-Chains”) to the previous state, and the outcome is vectorized and hashed - only a signed signature of the state of each side-chain gets updated as the new status of the blockchain, discarding the old state and storing the new one. Still, each chain keeps its own history, and any node with a copy of the transactions can attempt to replay them and verify that the outcome is the same, which ensures validity and fairness in a trusted environment.
For example, if a contract is executed that defines a “token” asset and distributes 1 token to each of 10,000 parties, only the hash-of-the-state of the final balances would be stored and saved onto the full blockchain (about 90 bytes), rather than a full accounting of all ten-thousand transactions and the balances of all user accounts, as is the case in Bitcoin or Ethereum; therefore, any future node connecting to the network would then benefit from over 99.99% size reduction in synchronizing this particular execution from blockchain, and it need only to retain the short hash of the current state at this block height to verify it.
In a business-critical derivation from traditional blockchain technology, Universa does not rely on untrusted actors from the general public. Nodes in the Universa system are owned and operated by Universa partners; they must be licensed and authorized by Universa Corporation. They are trusted, trained, and audited; they provide guarantees of availability, speed, and security. Rather than mining for incentive - a wasteful activity which needlessly consumes gigawatts of power across the globe every hour yielding nothing - instead all nodes are rewarded via transaction fees for their participation in the validation and execution of contracts. The only “work” being done on the machines in the Universa cloud is mission-critical data handling and contract execution, and does not require expensive GPU hardware.
Sensitive business data is not stored flippantly and unwittingly in unknown reaches of the globe, it is encrypted and regulated by strict organizational security practices (ISO 27001, 27002) making it finally possible for enterprises to trust a blockchain with sensitive or private business processes.
USE CASES.
- Real-time global payments.
- Multisig and escrow out of the box.
- Smart contracts for real b2b offline contracts.
- Offline transactions support.
- Liquidity source for payments /smart contracts.
- Micro uber fast transactions for IoT.
UTN TOKEN USES.
Execution of Smart Contract actions requires transaction fees paid in UTN to reward participating nodes for the processing power they supply to the network and sustain the ongoing development of the Universa platform.
Nodes will keep 80% of the transaction fee, and 20% will go to Universa Corporation. Universa will hold the right to “burn” each day up to 1% of the fees retained by the platform.
ROADMAP.
SIMILAR PROJECTS.
Eos.
EOS.IO is software that introduces a blockchain architecture designed to enable vertical and horizontal scaling of decentralized applications (the “EOS.IO Software”). This is achieved through an operating system-like construct upon which applications can be built. The software provides accounts, authentication, databases, asynchronous communication and the scheduling of applications across multiple CPU cores and/or clusters. The resulting technology is a blockchain architecture that has the potential to scale to millions of transactions per second, eliminates user fees and allows for quick and easy deployment of decentralized applications.
Exonum.
Exonum is an extensible framework for blockchain projects. Exonum gives you a beneficial opportunity to build decentralized, secure and reliable applications. It is designed to allow you, your company or your government to build a tailor-cut private or permissioned blockchain that solves your challenges and enjoys the unmatched security of the Bitcoin Blockchain.
Exonum brings all the advantages of a true blockchain — auditability, transparency, and unparalleled security — and combines them with privacy, efficiency and controllability.
USER REVIEWS.
[It sounds like Universa platform basically offers a full use of block chain on everyday life. I occasionally come across some similar projects, but none has claimed they could reach such enormously high peed of transaction before. Impressive. Let’s see how it goes.]
[I’ve just noticed some plans about Liberland? They have Liberland Future Fund in the ICO breakdown. Why did they put it there? And what is the benefits for other investors, most of which, as I presume, are not citizens of this young country?]
[About Liberland I’ve read it is expected that all services in this country like e-passport, corporate register and other will operate on Universa blockchain.]
[-Vehicle smart key
-Fitness and SPA pass card
-IoT - smart home elements working together
-Payments at parking lots or gas stations
-Logistics, cargo tracking
Really wide range of implementation.
I haven’t study the technology side yet, but all what’s written here sounds pretty attractive. However, I dont understand how can they offer such high speed of transactions??]
[Well, I’m not that good at it, but as far as I understood, they don’t have mining, so they simply verify crypto signatures from the contract and it’s validity
Borodich said once that test speed was about 10,000 per sec ]
[What kind of coin is this?]
[Not sure about coin, but the tokens are UTN. They’re product tokens, and give you discount for Universa transactions, since all transactions require tokens. They’re supposed to bring you a considerable discount (how much, if anyone knows?) on services, which universa will provide.]
[Huuuuuge project with great is coming! Can’t wait]
[Mr Borodick you need more than a few farmed newbie accounts to convince us to invest in your ICO. Here is the thing that bothers me the most.
What are you selling to us other than tokens? why do you have them all in the first place? who gave you the rights to claim ownership of all the tokens? bitcoin never offered in ICO and is a POW blockchain, so why do you compare your token with bitcoin?
If people couldn’t mine this then how are you going to maintain the blockchain? ETH has miners providing the computational resources. bitcoin has miners hashing to find new blocks, universa has jack squad to run the network.]
[I don’t understand how Universa differs from any other smart contract project out there, faster transaction and lower fees are nothing new. Would like to have more info to have a better understanding on the project….]
[As I see it, the main point here is that transactions are not just “faster” they are claimed to be uber fast; and fees are not just lower, but there are supposed to be almost no fees. But I agree with you, I would also like to get more info on Universa]
[I would love to know more on this coin. Unfortunately I still don’t see the innovation in faster transaction… Dash has instasend which lets you send coins as fast as you can click the button send, still it’s a different project so it can’t be compared. Hope to have more info for a better understanding of the project.]
[the fk do you guys need 100m in funding for? What is it with ico’s today and their insane amount of greed. Claiming to be the fastest and most scalable digital asset with no proof. Designed by a 3 man dev team? okay.. . I hope these guys have honest intensions tho because i like the idea but the way it is presented and marketed is designed to fool noobs into investing.]
[blockchain on smart home, gas stations and other daily life related stuff, go guys!]
[it is mentioned that Universa’s blockchain is to be used in real sector. Are there any businesses that are already seriously interested in this project? if there are any, would like to read about it]
[from a business point of view, this part is attractive:
“Each vendor, supplier, or market player will be able to provide their own local service within Universa, independent of the others, and to perform payment transactions in any tokens or currencies.”]
[I didn’t understand from the news or other sources what technology lies in the basis of Universa smart contact. In Ethereum or Eris platform, as I understand, are the platforms for smart contract code, as well as universa, I believe. Such platforms provide code that provides a conditional financial transaction, where the code kinda articulates it. In what way is this mechanism different in your project? I mean, is there any one specific difference?]
[Well, actually I mean that the tecnhonology that this project offers is absolutely new. The idea of so called capsule that contains smart contract, the level of security, the possibility to use multiple key access and so on]
[Universa’s advantage is the fast transaction speed and smart contracts.
For fast transaction speed, isnt there already Ripple coin? They have clients like Standard Chartered. What clients does Universa have? Bank of Liberland?
If I am not wrong, Ripple does not depend on mining as well, what adv does universa have over Ripple ?
If you could buy Ripple or Universa, both have fast transaction speeds, but Ripple is being used by major banks. Why would anyone choose Universa over Ripple?
For transaction history, if i am not wrong Universa coins do not keep the transaction history so that the transactions can be done faster. What if the public wants to be able to trace the transaction history of the coin ?
For mobile devices, universa is only targetting andriod phones? How about iphones?
Also, Universa coin is the offical coin for Liberland, From Wikipedia: The area is about 7 square kilometres (2.7 sq mi), and most of it is covered with forests. There are no residents. A journalist from Parlamentní listy (cz) who visited the area in April 2015 found a house that had been abandoned for about thirty years, according to people living in the vicinity. The access road was reported to be in a bad condition.]
[But how have you to provide such high speed of transactions?]
[Rather than relying on archaic mining techniques that burn clock cycles for no reason, in Universa, permission to create new blocks comes from participation as a licensed node. Therefore, rather than waiting for a new block to be mined, a state change can occur at any time, verified by a trusted actor, and often approved by consensus in less than ten milliseconds even at scale. Each separate contract maintains its own chain of state, so a contract can perform actions asynchronously without blocking or affecting other contracts, and the combined changes of state collectively form a directed acyclical graph (“DAG”) that makes up the blockchain itself]
[Borodich is a well-known investor, so I guess that this project worth it. Also, pre-ico went awesome, it speaks for itself.]
[This was not looking this interesting at start but now it has turned into very serious after raising so much money this easily. This is standard these days to check any on going crowdfunding by its present performance. There is still much time to reach at lot more higher amount in remaining time to reach at final day of ICO.]
[It is stated in introductory text that Universa is next generation blockchain based protocol which tells that they are not ERC20 token. They have their own blockchain which makes it attractive and genuine. All the rush of investors is because of these reasons and potential which can be realized by the concept.]
[So the nodes in the universa ecosystem are only entities approved by universa corporation? This does not sound very decentralized to me]
[I believe in this project!! Are there any signed contracts or negotiations with big companies?]
