What is UMKA?

UMKA is a decentralized labor market. It is a proficient scheme application and a group-building manifesto based on the blockchain innovation.
UMKA is a pleasant space for cooperation amongst employers and contractual workers that offers a wide cluster of helpful devices incorporated into its system.

How does UMKA work?

The decentralized application UMKA depends on a quick Turing-finish blockchain with cheap and adaptable efficient contracts (AgileSC) alongside the Byzantine-fault-tolerant (BFT) Delegated Proof of Stake accord calculation, based on EOS.IO.

In order to make more comprehensive monetary relations between clients, UMKA presents assets for cryptocurrencies and fiat monetary forms. An asset is basically a token (or a symbol) for a currency in the UMKA blockchain upheld by the cryptocurrency balance on a client's account in his/her UMKA wallet and the fiat adjusts on the account of the UMKA body. Resources permit limiting transaction costs for clients since the stream of funds inside the platform won't be impacted by other blockchains' or banks' payments. Assets are utilized for quick work of keen contracts and financial security insurance for clients.

The stream of assets is led by means of keen contracts which at the beginning stage will work with assets of Bitcoin and Ethereum. Later on, 7 new cryptocurrencies and fiat resources will be presented.
The following currencies operations will be possible in UMKA’s system:

UMKA Blockchain:

Consensus Algorithm:

Proof of Work (PoW) is a standout amongst the most prevalent consensus algorithm utilized as a part of blockchain solutions. One of the fundamental issues of PoW is its execution: computing requires powerful equipment, the system does not scale well, and exchange affirmation takes quite a while. Proof of Stake (PoS) is a commendable other option to PoW, since it has better execution. However, in the event that enough finances are possessed by a predetermined number of individuals, we confront the danger of centralization. Delegated Proof of Stake (DPoS) depends on PoS and presents components of participatory democracy. DPoS lets network members choose trusted block creators called "Witnesses" who claim elite hardware. In DPoS, it is possible to make obstructs with an interim of 0.5 seconds and process more transactions in a unit of time. DPoS is likewise generally fork-proof.
The BFT-DPoS algorithm includes the Byzantine fault tolerance (BFT) workman which distinguishes malevolent block makers and furthermore diminish the interim for irreversible affirmation of transactions in a block to ≈1 second. This consensus algorithm is utilized as a part of UMKA's blockchain.

Software Implementation:

The decentralized application chips away at the previously mentioned blockchain which gives it a chance to run easily utilizing the framework's assets and, if necessary, utilize more assets. The keen contracts are written in the C++ programming language, which is an universal, helpful instrument for the task.

Token Sale:

The UMK token is an ERC20 token issued on the Ethereum blockchain. UMK is a security token and an investition token. It gives its proprietor the right to seek after their venture interests.

Sale:

Token Distribution:

Tokens will be distributed as follows:

Bonuses for Investors:

Bonuses are additional tokens given to the investor besides the purchased tokens as long as the investor has purchased a certain minimal amount.

Investment Distribution:

During the token sale it is planned to gather funds in the following range:
Soft cap: $1,000,000
Hard cap: $10,000,000
Funds gathered in the process of the ICO will be allocated as follows:

Conclusion:

The UMKA service is a decentralized user-managed framework. It depends on Delegated Proof of Stake, a consensus algorithm of the blockchain.
The "UMKA Foundation" guarantees the system's activity and improvement. Agile Smart Contract containing members' information, transactions and terms thereof are recorded in the blockchain. It implies that all transaction information is open to all administration members equally, however, the corrections can be presented by an transacting Employer and a Freelancer as it were.

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