Hello UChain Community Members!
We would like to first off start by saying thanks for all your support thus far!
From this point onwards, we will be posting a weekly report to keep our community up to date with the latest progress of how our team is getting on.
Below is our weekly project report for the 13th — 19th August.
R&D Progress
We will start with important updates right away. First, let us look at UChain’s R&D progress, and then the development of the community.
Over the past couple of months we have been hard at work developing our project that we’re all so passionate about. We’re happy to show you some progress, and let you know that we’re still on course for completion of Testnet in Q3. As the first benchmark of the UChain public chain development project, please look forward for future progress on a more regular basis from this point forward.
1- Implementation of SHA256 digest algorithm (Progress 80%)
SHA256 is an algorithm to transfer any data into a 256-bit length summary information. A very small amount of change in data can cause unpredictable complications in summary information. This whole process is irreversible. This algorithm is normally used to compare and verify data.
2- Implementation of Base58Check coding scheme (Progress 80%)
In encrypted currency, most data that customers can see are coded with Base58Check. This coding scheme can help with data compression, it is easy to read, and has error verification. When using Base58Check, coding software will automatically calculate and compare original data’s checksum with result data’s checksum. If the two checksums do not match, that means there is an error somewhere.
3- P2P communication seed nodes configuration (Progress 50%)
In P2P communication, every client must connect to a preset seed node when launched, after this has been done the client can receive other node’s information from the seed and connect to the network.
4- Trading and account information model (Progress 20%)
To support the sharing economy better, the trading system will implement Account Balance mode. All trading history will be stored onchain, resulting in, the store account’s current balance and credit rating, stock benefit information, Status information etc, to be acquired quicker.
Institutional Investors & Organizational Partners
UChain commits to increase our platforms value to the sharing economy by expanding its ecosystem.
UChain will build a sharing ecosystem with partners around the world.
Alipay: Close cooperation with Alipay to improve sharing transportation solutions.
China Unicom: China Unicom offers hardware solutions.
Grab: Leading sharing economy firm in South East Asia, committed to localizing the sharing transportation ecosystem.
TransLink: Leading brand of the transportation industry in Canada. Cooperating to improve our offline operation. Amazon Cloud is also a partner in the configuration of nodes.
Dianping.com: Local life style platform, to provide better experience and service.
WBO: World Blockchain Organization. WBO provides solution for the city through smart traffic management and big data.
Community Development Progress
As we work towards the goal of becoming the leading Sharing Economy blockchain project, UChain’s success is not only going to be achieved by excellent technical skills, but also support from our community and future ecosystem participants.
UChain’s community has expanded quickly since founding. Now UChain has more than 21,000 followers on Twitter. Also, the Chinese group for UChain on Telegram has exceeded 39,000 people, with our English speaking Telegram group strong at over 58,000 members.
After setting up our online community, UChain has not slowed its steps. Our team has kept cultivating development of the community, with Our R&D team focusing on research and product development, along with introducing related techniques to more friends and community members. We want to attract more and more developers into UChain’s ever growing family, with many exciting updates and exciting news in the future.
Closing words
UChain is the first blockchain infrastructure designed for the sharing economy.
UChain is committed to building a P2P first layer blockchain smart network to solve the sharing economy’s current problems, such as high trading cost, lack of credit check, and user data leakage. Through UChain’s technical infrastructure, every sharing economy company can develop its own DApp on the UChain network, whilst also being given the opportunity to issue their own tokens. In the future with more and more service providers joining UChain, we will become the leading Sharing Economy Ecosystem, Sharing Economy 2.0.
Our technical team has been putting all their time into making sure UChain is a success, we hope you will keep your faith in the UChain team and project. Our team will always focus on developing and continuously improving our network, along with expanding our communities around the world. Our core belief is to create value for this world. We hope you can give UChain team your patience and trust. We will be standing with you when UChain project achieves great success.
Thanks for all your support thus far!
Best Regards,
UChain Team.
UChain — The next generation distributed smart network blockchain for the sharing economy.
Telegram (EN): https://t.me/UChainEcosystem
Telegram (CN): https://t.me/uchaingroup
Twitter: https://twitter.com/UChainEcosystem
Reddit: https://reddit.com/r/UChain
Website: https://uchain.world
Contact email: info@uchain.world
