A new consensus protocol in creating a decentralized and democratic market–Underlying Asset ICO Veto System

A consensus protocol is one of the most important elements of decentralized blockchain ecosystem.

UAICO allows multiple issuances of a cryptocurrency, which in turn enables, depending on the situation, incumbent investors to gain certain amounts of profit. There is also a veto system, however, where investors can veto against decisions to execute any additional issuance.

A veto system operates by giving the community and a delegated committee the right to reject any additional issuances if they choose to do so.

Any stake holder can exercise his or her right to veto against the decision. If the veto system occupies 33.3% of the consensus, the issuance will be ultimately rejected.

UAICO allows people to select a fixed number of delegates to represent the opinions of the majority of the community. These chosen delegates comprises a committee, where they will all be guaranteed to serve for a certain period of time in representing the whole community.

Therefore, UAICO empowers the investors by giving them the right to actively execute additional issuances as well as the right to reject them if the majority is against such decisions. This will hopefully create a more efficient and democratic community.