Before Mainnet launch, U Network announces successful deployment of smart contracts compatible with EVM

In 1994, Nick Szabo proposed the idea of Smart Contract:

“A smart contract is a computer protocol intended to digitally facilitate, verify, or enforce the negotiation or performance of a contract. Smart contracts allow the performance of credible transactions without third parties. These transactions are trackable and irreversible.”

However, due to the lack of credible execution environment at the time, smart contracts were not applied to specific real-world industries.

This lasted until the birth of Bitcoin in 2008, where everyone saw that the underlying technology of Bitcoin — — Blockchain, can provide a credible execution environment for smart contracts.

In 2014, the release of the Ethereum whitepaper “A Next-Generation Smart Contract and Decentralized Application Platform” allowed us to see the convergence of blockchain and smart contracts for the first time.

Ethereum is not the only platform that can deploy smart contracts on the blockchain. In November 2018, U Network team decided to announce an exciting news to all members of the community before the Mainnet launch,

U Network became another platform for deploying smart contracts on the blockchain and will customize and optimize virtual machines for the content(UGC) industry.

We would like to thank the U Network technical team for their efforts and all the community members for supporting U Network.

Considering the ecology of Ethereum at present scale, U Network is also compatible with Ethereum virtual machine (EVM), which means that all DApps in Ethereum ecosystem can run on U Network in the future. This fully expands UUU’s future application scenarios.

We welcome developers to deploy smart contracts on U Network now.

U Network’s Mainnet is about to go online, and more important information will be announced. The best is yet to come!