While normally our best advice is to take some good time to consider, this time “more haste, less speed” will most likely turn out inapplicable. Of course, we urge everyone to keep in mind all the risks, but along with that pay attention this time being slow and patient is not the best solution. For you to have some basics to run an assessment, we shall provide everybody with a brief description.
Universa, a new project aiming to build their own blockchain with a state-of-the-art designed protocol that would solve most major problems experienced with the blockchain systems used currently. They have taken a long long time to design an elegant solution and are ready to compete with the skyrocketing projects of the market. Alexander Borodich, CEO, encourages the cryptoenthusiastic audience to address the existing blockchain experience critically and to estimate the advantages of a new generation of blockchain technologies.
The first issue considered is apparently transaction cost and low speed, which is a major obstacle in the way of developing multifunctional systems for businesses and industries that operate with large numbers of smaller transactions. Universa promises to make it dirt cheap for businesses and individuals with UNT. Compared to the protocols widely used at the moment Universa sees their speed to be hundreds and thousands times faster, approximating it to something over 20,000 tps.
Getting deeper into their design we should definitely highlight the diverse functionality introduced by the new protocol that is to improve the existing technology use cases and consider a wide range of side benefits which are to revolve the patterns that have already become common.
An important matter is Universa involves no mining, requiring minimal effort to approve a transaction, which is supposed to save our environment from the Thermal Death and drop prices of GPUs. A protocol node first checks a fragment of a chain to make sure it complies with the source contract and then certify new documents and revoke the old ones. Basically this means that another perk is that the Universa network keeps track only of active documents, while history items are removed from the ledger, Universa keeps only the decentralized ledger, but not the contracts and not the blockchains. This spec along with no mining makes the entire system light and, as one can put it, elegant but sufficient.
The concept of keeping the network light is based on the structure in which all the generation, script execution, state change, chain extension and signing is performed on-client and then only checked and approved, so the client bears all the processing loads.
They also have a relatively easy-to-comprehend technically speaking but mind-bogglingly simple solution of smart contract chains running on the same principles: a set of smart contracts refer and confirm each other. A “C-chain” represents a real-world set of related documents.
All of the above promises to make transaction cost literally independent from the system load, which allows the operator to estimate transaction costs, with reliable projections into the distant future.
Besides speed boost and cost reduction, they are to introduce their own crypto-messenger and a built-in wallet system to make it all convenient for the end customer. In addition to real-time global payments, the Universa protocol enables multisig, escrow and smart contracts for B2B for a huge variety of use cases including DAO, sales, voting, logistics and so on, and so forth.
So, altogether we are now looking at the rise of a new significantly faster and cheaper ecosystem that will totally affect the cryptoworld and will likely span wide to establish a new era of blockchain technologies.
The great deal is that now you can support the Universa launch campaign with us at KICKICO.COM, and backing with us you of course get a nice cherry — KICK bonus — on top of your slice of cake. Make a smart decision and do make a fast move, the launch is too close to miss it.