Ultrain [long story short]

crypto.girl (51)in #ultrain • 6 years ago

There are many new projects out there in crypto world, but often you don't have time to study all of them, so I'll select some I like and bring a short summary here.

What is it about?

Ultrain will provide “trusted computing”, a completely new model for providing calculation services based on the blockchain architecture. GPU computations are optimized to handle large groups of tasks and perform the same operation over and over, while CPU computations are perfectly tuned to process several program threads at a time; calculations using RAM (RAM), disk resource management and bandwidth capabilities can all be included in the framework of the software platform of this model. All of the above will take the characteristics of blockchain computations. They cannot be broken and they will be transparent and visible to all participants.

How is it different than other solutions?

Ultrain provide a new solution to the current blockchain drawbacks based on the following:

High-Performance Computing. With its new consensus called “Random trusted consensus framework”, it can get 1,000-times increase in performance with only 1% of the computing power requirements of the traditional POW network maintaining the same security levels.
Trusted Computing Creates Value. Ultrain has developed an innovative cryptography whereby only 1% of the network’s computing power is required to implement mintage. When a consensus is formed, remaining 99% of the computing power can be provided as trusted computing to manage services, such as CPU computing, GPU computing and so on, for external parties.
Dual-layer Token Architecture. Similar to Neo and VChain, Ultrain has adopted the dual-layer token architecture system of UToken and UGas. In Ultrain, Each dApp can issue its own tokens based on Ultrain and also design its own token system as per its business model.
Consensus Building Mechanism for Mutual Confirmation. Ultrain has developed a mutually confirmed consensus building mechanism (A hybrid of POS+VRF+BFT consensus). It's basically a Network governance mechanism based on democratic voting, where all participants can contribute to building a better future together without requiring a full consensus. With the help of this innovative approach, Ultrain can process transactions in Mainchain up to 20,000 TPS, with a 15 second confirmation time, while the side chains can process 4000 to 5000 TPS, with a confirmation time of 1 second.
User-Friendly Smart Contracts. Unlike Solidity, C++ or other complex languages for smart contracts, in Ultrain smart contracts are based in Go and JavaScript language, giving developers an opportunity to create complex smart contracts in a limitless environment, which is needed for developing industrial level applications.
Artificial Superintelligence on the Chain. Ultrain has designed a reinforcement Learning Platform on the Chain Based on idle computing power, which includes not only multiple master AIs indispensable for the operation of Ultrain but also AIs deployed by third parties that provide various service capabilities. Also users will be rewarded for contribution.

What is the token for?

As mentioned above, Ultrain has a dual-layer token architecture system of UToken and UGas. UToken is issued by DApps running on Ultrain, which is similar to Ethereum ERC20. Any DApp has the ability to issue its own personal tokens on the basis of Ultrain and put its own currency system of tokens on the basis of its own business model.

UGas is used to buy the necessary computing power to run smart contracts on Ultrain, similarly to Ethereum gas. All smart contracts deployed on mainchain and sidechains need UGas. Almost every transaction over the Ultrain plattform will lead to a burn of 20% of the spend UGas.

Mining works similar to a Masternode system - allowing a higher efficiecy through "stacking" a bigger amount of UGas, which will lead to locked supply. All nodes can enter or exit freely, but in order to be selected as proposers or voters, they need to hold some stakes.

Token sale hardcap is $20M. Only 10% of the tokens are sold in presale and genesis mining. It's a small amount comparing to most of icos, but 50% of the tokens are reserved for mining.