This article will be summarising and evaluating the development of UChain from the last week, based on project progress, website updates, and community development.
— Project Progress —
UChain project team Testnet has entered into the 10th& 11th week of closed R&D. The following is the progress of this week:
We have disclosed major technical adjustment and the upgrade solution in “Announcement for adjustment and upgrade of UChain main network technical architecture “
At present, UChain ‘s R&D has been divided into two directions, one is a JAVA-based test version, the other is the C++ and go-based UPOS version. In the future, we will replace the JAVA-based version for C + + and go, with this being the core to creating a true version of the sharing economy.
1.Progress of Java Test Version
Completed:
- Testnet integration, 2 nodes take turns to keep records successfully.
- Code cleanup in the log file.
- Adjusting the system architect, and reconstructing various functions.
Fault-tolerant processing of network exception:
- Fixed the problem where occasionally network link exception caused blocks to be out of sync.
Exception in Block Production:
- Client command security is strengthened.
Ongoing:
- Testnet Testing
Multiple tests on the consistency and correctness of the books with the transfer and viewing functions. - UI development of our blockchain browser
(Home Page & Block List page have been completed)
2. Progress of UPoS
The majority of UIP 0.1 has been completed and the first round of internal testing has been conducted.
Completed:
- Upgrade on the encryption algorithm
- Customization on the address and Mnemonic word
- The private key retrieval mechanism
- Anti-dual spending
- Anti-selfish mining
- Upgrade on network dependent library
Ongoing:
- Gas rules and implementation
- Identifier implementation
Progress of UIP0.2
Ongoing
- Testnet integration — 2 nodes take turns to record successfully.
- UPoS successfully releases blocks (20%)
- Address and balance of foundation, Blackhole address, take turns to release blocks.
- The issuance of tokens, additional models and transactions, and transfer of ownership (30%)
- Generated and verified logic of two special token votes and block (20%)
- Preparation for the second round of internal testing & the establishment of the P2P network (40%)
- Fixed miscellaneous bugs.
— Community Update —
News
- UChain’s sharing chain will make major adjustments to the technical architecture proposed in the original white paper.
After deep communication with local companies and partners as well as internal discussions, we decided to make major adjustments and upgrades to the technical framework proposed in the original white paper. The upgrade content mainly includes:
1. Partial core code changes to C++, which will improve the efficiency of TPS. The embedded language offers more powerful support for system development and upgrade.
2. Switch from “Account Balance Model” to “UTXO Model”.
3. User account system UID, adding user credit (score, rating), equity (voting, community governance, node application).
4. The original RPCA consensus mechanism will be changed to UChain’s “UPOS” (User Proof of Stake) which is our mechanism dedicated to the sharing economy.
5. The main encryption method was changed from the secp256k1-zkp to a stable version of secp256k1.
2. UChain will solve three major problems that constrain the development of the sharing economy, through the use of blockchain.
(1) Cost of transactions
UChain’s will create a distributed blockchain network that enables the peer-to-peer real-time transaction between users and service providers, which is expected to reduce transaction costs by 20%.
(2) User credit passport
UChain will establish a credit passport mechanism. Once a user’s credit passport is authenticated by the service provider, the deposit can be waived, the transaction can be made directly, and all transactions will be recorded in the blockchain, creating a decentralized and unbreakable “chain of trust.”
(3) User data security
In the UChain blockchain, data is stored and extracted through a distributed storage scheme with a private key, which ensures that even if a single node is attacked, the entire information will not be revealed.
3. (IDAX Activity) 1 Million of UCN is waiting to be claimed!
— Current Exchanges —
UCN is currently listed on the following exchanges:
- UEX (BTC/ETH/USDT)
- IDAX (ETH/USDT)
- IDEX (ETH)
- Bilaxy (ETH)
- Hotbit (BTC/ETH)
- TopOne (ETH)
- Coineal (ETH)
- EtherFlyer (ETH)
- Please always DYOR before deciding where to trade your Cryptocurrency.*
As always, thank you for your continuous support!
UChain Team
