The economy of joint consumption is increasingly entering our life. We are easier, more convenient and more profitable to pay for temporary use or access to products than buying and using it for only one day or several hours. This concept was developed and published by well-known economists Rachel Botman and Roux Rogers only in 2010, and many people no longer understand life without this economy. The concept translates to a new level the consumption of goods and services. Platforms working on this concept are gaining momentum and can compete on turnover and profits with the giants. In some countries, actual: the perennial rental of umbrellas, the delivery of tourist tents, tools, skis, hotel rooms and even airplanes.
What problems do we face:
- High transaction costs. In particular, companies specifically hold back the offer, to increase the cost of services, goods.
- The problem of trust of both the seller and the buyer is very acute.
- Abuse of data that provides the consumer with their leakage to the network and many others.
The company UChain creates a new generation of the economy of joint consumption. The Generation 1.0. is replaced by a completely new revolutionary generation 2.0, without intermediaries and commissions. The creation of such an economy became possible, thanks to the use of blockchain technology, which will solve many pressing problems. UChain is an autonomous, decentralized, peer-to-peer network built on the principles of blockchain.
How the company will solve the problems:
- Transaction costs. A transaction certificate is used when signing a transaction. The funds can be frozen, depending on the terms of the contract, before the end of the provision of services, before the provision of services, etc. All transactions are processed through smart contracts, which is necessary to ensure authenticity, legality and compliance.
- Confidence issues. A credit card is created for each user. Thanks to blockchain technology, all transactions are recorded and stored in special nodes. Passports will be available to all service providers. Thanks to him, the behavior of all participants will be monitored and controlled and can be used as an identity card. This is especially true in the tourism industry, renting, education.
- Safe storage of information. The data is extracted and stored thanks to the distributed storage, with the private key. All changes are possible only with the mutual consent of the parties. Data is written in parts by several nodes, so if one node is compromised, it will not give access to all information.
An essential advantage of the platform is that service providers can easily and quickly transfer their services to the platform, or create DApps, thanks to the API or SDK. UChain fully supports the operation of the service: maintaining the interface, the consensus algorithm, the analysis of the service, ensuring the sequence of program execution, etc. Service providers can use UCN tokens as a service fee or create their own and develop their ecosystem.
The UChain platform provides high transaction speed with RPCA technology, which supports the shared economy, and has proven its efficiency, reliability and speed of transactions in Ripple technology. The company eliminated the widespread PoW and PoS, the transaction speed due to them is much lower than in the RPCA.
To ensure the security of the transaction, the company uses ECC (Cryptography with Elliptical Curve) is a powerful asymmetric algorithm that takes into account the key length and was first applied and proved its reliability in the bitcoin network.
To achieve ecosystem transparency, UChain uses a variety of methods:
- Blockchain virtual machines (supporting C ++ and Solidity).
- In the storage of smart contracts, SQL commands are used.
The company's main token is UCN, the remaining tokens are derivatives, and their value depends on the price of the company's primary token. Before you buy a derived token, you need to convert to UCN. The company also offers a privileged UCP token, which gives its holder the right to vote, and higher access to the ecosystem. UCN can be exchanged for UCP, the longer you store UCP, the more bonuses you get.
UChain provides a digital wallet, which will store UCN and any other URC-1 tokens.
To date, one of the partners of UChain is U. B. Group Holding, which already has more than 1 million users and business on 4 continents.
Soon, U-Bicycle plans to launch a bicycle exchange application on the UChain platform.
Conclusion: UChain platform is a new development of the economy of joint consumption, generation 1.0 is replaced by generation 2.0. The company achieves its capabilities and solves existing problems, thanks to blockchain technology. High transaction speed is supported by the RPCA, and the provision of secure transactions through ECC. The platform enables companies to develop their own ecosystem and digital assets or use the UCN tokens. The platform UChain looks promising, with a promising, working idea, which is popular among the population.
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