Summary of UDAP with PCHAIN AMA on 09.25.2018
Bing Ran: Hi everyone, thanks PCHAIN team to give us this opportunity to introduce UDAP to the community.
Q1: Can you tell us more about the project?
A: we’re building a middle layer between applications and the public chains. The middle layer solves a few common issues with building DApps.
Q2: What you are trying to solve in UDAP? What sort of partnership did you achieve with PCHAIN?
A: we’re building a middle layer between applications and the public chains. The middle layer solves a few common issues with building DApps.
Coding smart contracts right is hard. We’re building a suite of start contracts. So that app developers don’t need to.
We’re targeting specifically the non-fungible asset market by introducing a new. asset model called Singular, which is based on the idea that “One thing, one contract”
We’re building a state channel framework for non-fungible asset trading as well.
The singular model focuses on single items in a real world, in the meantime. offers seamless integration with existing token standard such as ERC20 and ERC721.
Q3: You are satisfied with PCHAIN as layer 1?
A: Yes, we have high hope of PCHAIN, to say the least. We’re building a state channel. Framework for non-fungible asset trading as well.
Q4: Is your project similar to Raiden network?
A: Not really. Raiden is more about payment. UDAP is about tokenizing non-fungibles and the trading
Q5: Why Dapps should use UDAP not directly build on public chains?
A: coding directly with EVM is hard. It’s like the first generation of a website that’s coded with CGI. It’ the middleware and framework movement that has given web1.0/2.0 the life.
Q6: You specialize in ticketing can you tell us more about it?
A: ticketing is just one of the applications that can easily be built with UDAP technologies.
We’re working with this big ticketing company to help them move to a decentralized inclusive model.
Q7: What is your plan to focus on PCHAIN? How can get benefited?
A: PCHAIN is one of the very few public chain projects that delivers real TPS. And it’s EVM compatible. The experience with it has been very positive.
We offer a simplified asset programming model called “asset-oriented. programming” model, where the UDAP helps to tokenize app’s asset with PCHAIN. And most of the business logic is still implemented in whatever Internet technologies the applications choose to use.
Apps call UDAP when there are transactions on their assets, such as the change of ownership, etc..
Q8: What we can see changes in PCHAIN through this partnership next 3 months?
A: UDAP has delivered Harvest Wallet — an Asset Wallet that supports Singular. tokens and ERC721 tokens.
Our wallet has built-in support for PCHAIN. And you can use this wallet to create your own blockchain assets, e.g., certificates, invoices, memos.
Q9: What sort of node do you use? When you plan to launch your product on the market?
A: We’re releasing the UDAP node and the wallet in MVP form in the next few weeks.
Q10: I take it you will be doing an ICO on PCHAIN when the mainnet is ready?
A1: sometime in October.
You can use PCHAIN PAI to attend UDAP special presale now.
Q11: What is your estimated volume of transaction per day?
A: we’re capable of lots of TPS due to the “State Channel + PCHAIN” architecture. The volumes of transactions will pick up once some of our applications start to roll out.
Q12: Do you have a demo ready?
A: the wallet app will be released for public review and testing in two weeks
Q13: What is the main reason you had chosen PCHAIN for collaboration?
A: PCHAIN delivers verifiable TPS 😊
Q14: UDAP use only PCHAIN platform?
A: we used to work on Cosmos, but Cosmos team have been late on many of their milestones. Although they have started the whole Tendermint thing.
Q15: I saw somewhere on your website you can tokenise anything? how?
A: It’s our goal to give developers a full abstraction of the underlying public chain.
You can play the wallet on PCHAIN soon. We will deliver UDAP another in-house. Developed application — Umedia, a music marketplace and music player for musicians to sell their copyright-protected music, for users to trade with other users.
Q16: How we can buy your token with PAI? Any advantage of using PAI? Any bonus plans?
A: this is the message I have received from our ICO manager: when UDAP starts ICO, chain community enjoy a 10% discount when buy by PAI.
Q17: Is this a kind of music streaming like Spotify? Have you lined up a partnership with any music platform?
A: UMedia is not about streaming. It’s about whole song trading. We’re in the talk with some potential partners who are interested in running this. But for the least, we will show to app developers how a full features e-commerce app can be built on top of the UDAP tokenization service and state channel service, to deliver the Internet-grade experience and innovative blockchain features.
We have more information on our website, UDAP. If you are interested in participating in UDAP token sale, please join our telegram community Telegram community and browse our website for more info.
To summarize it, UDAP proposes a new token model called Singular together with. its Singular Wallet. We incorporate state channel technologies to deal with non-fungible assets. And our wallet is an open architecture that third-party apps can deploy directly on. The wallet can support decentralized exchange right within, thanks to the Singular interoperability with ERC20 and ERC721.
We’ll be back soon 😊
