Meet uPlexa and learn how it will enhance cryptocurrency adoption.
uPlexa is a unique cryptocurrency designed to utilize compute power in everyday IoT devices. By adding proof of work software to the ever growing smart device sector, which includes items such as, mobile phones, smart TVs and on-board computers in vehicles, one could participate in securing the massively decentralized uPlexa network. Completed work, also referred to as mining, will be rewarded with a numbers UPX coins based on network contribution. Once the coins are secured in a wallet, the user is able to choose how they are spent. Imagine this, you download a specific application for your brand of smart TV to mine uPlexa. While turned on, it begins running the internal CPU slightly higher in order to verify uPlexa network transactions without interfering in the TV’s normal operation. Over time, UPX coins are accumulated in the user’s wallet. It’s as easy as that. Once uPlexa has secured exchange and vendor partnerships, the user may choose to sell, hold or shop using UPX. A uPlexa miner in a developing country could easily use UPX to subsidize device use cost or help pay a purchase loan. With a small percentage of the world living in developed countries, this feature alone could spread cryptocurrency adoption on a grand scale. The possibilities for different mediums of purchase and exchange also naturally grow as the demand for an ecosystem grows. Moreover, as the protocol is built off of a variant of the cryptonight algorithm, there is the added bonus of anonymity. 100% privacy in what you do with your UPX. The founders of uPlexa have strong belief in fungible cryptocurrency that can stand against the tyrannical powers of control. So this core feature is paramount.
Where we are and how we got here.
Uplexa was born out of a lights on moment after a Bitcoin meetup. On the way to find tacos and beer, a miner said to a developer, “Why has no one created a means to mine my smart TV?”. The response was, “Thats actually a good idea”. The next few months was a series of sit downs, brainstorms, networking, research and development. Many times it seemed unachievable and prone to impossibilities but dedicated hard work and skill on behalf of the core developer saw through all those early issues. At the time of this writing, uPlexa, has just published its open source code to the public. This after a successful beta-mining period where early adopters were able to mine UPX on the mainnet for a short period to patch any bugs before full launch. In this short period of time, plenty of work was accomplished. Issues were identified. New code was constructed. Old code was improved upon. Exclusive features implemented. Highlights included …
- easy to use, working webwallet
- implementation of Monero’s bulletproofs for a lighter weight blockchain
- multiple bug fixes, pool stabilization and excited community growth
- mining variance between hardware types to keep IoT devices relevant
- 120 second block times to decrease blockchain weight due to empty blocks
- LWMA difficulty algo to prevent flash mining attacks
Its should also be mentioned that uPlexa’s website and whitepaper have currently been translated into multiple languages with many more to come.
Aims for the future
Without getting too technical, uPlexa aims to continue creating user friendly software that will encourage and incentivizes users of IoT devices to mine the UPX blockchain. We have full intention to develop a dedicated marketplace for added uPlexa utility. The team will continue adapting to technical and economic challenges while staying true to the original concept. We believe this will result in uPlexa becoming a relevant player in the crypto space. Obviously, we aim for this to happen for a variety of reasons. First and foremost, is our belief in economic freedom and the crushing of monopoly power. The powers that aim to keep us all under heel. We know uPlexa cannot tackle this giant alone. However, it will contribute in an immense way.
Just to be absolutely clear, uPlexa is not a company. We did not do this with the help of any capital investment, nor will we ever hold an ICO. This project is a pure, grassroots community that started with a disruptive idea. We believe this idea has the potential to cultivate a large, passionate community of free market thinkers. Achieving this will secure the uPlexa ecosystem and propel it forward into the future.
I encourage you to find more detailed information on our roadmap, systems, code, coin economics, ethos and bounty programs starting with uplexa.com
There you can find links to community, whitepaper and tutorials.
Cheers from the uPlexa team.