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five benefits of Universa Blockchain over Bitcoin and Ethereum
Universa, a blockchain cryptoprotocol of the new generation, which is an awful lot sooner and cheaper compared to Ethereum and Bitcoin, launched its pre-ICO on August, 28, 2017.
The proposal behind the venture is Alexander Borodich, a know-how investor, the founder and managing accomplice of VentureClub, the previous head of advertising and marketing at Mail.ru group, Russia’s biggest IT business. Universa items a number of overriding benefits over Bitcoin and Ethereum blockchains.
- Universa introduces a brand new generation exciting blockchain technology.
Universa became at the start being developed not as a cryptocurrency, however as a distributed device for executing wise contracts. therefore, the Universa platform doesn’t depend on mining, which effects each in high speed and transactions low-cost, with a dispensed consensus model offering the same degree of believe as in the existing blockchain protocols. The consensus in Universa is the consent of 91% of the community nodes. Forging turns into well-nigh unattainable at this stage of consensus.
- Universa is a thousand times quicker than Bitcoin blockchain.
Universa nodes do not require mining and are responsible for verifying the transactions and smart contracts that shoppers submit onto the network. Waiving mining opened a means to increase community performance by hundreds of instances. The Universa blockchain simple protocol is supplemented by means of the tremendously developed declarative and logical language of smart contracts. Such architecture made it possible to attain the velocity of 10,000 transactions per 2nd on the network nodes.
- Transactions in Universa are a hundred instances more affordable than in Bitcoin.
due to Bitcoin’s risky and speculative nature, microtransactions within the Bitcoin blockchain deem economically meaningless. It isn’t economically competitively priced for a business to pay $ three,5 for a couple of cents worth transaction, processed by using the community for roughly 10 minutes, on exact of that. Universa make a positive change if compared to Bitcoin and Ethereum, via permitting its users to make tons of of instances extra transactions per 2nd, and at a really low rate.
- within the Universa protocol, smart contracts are wise indeed, which broadens their implementation in true company vastly. Universa wise contracts are more than applicable for programming all types of functions, both intracompany ones and those working in a public blockchain.
as an instance:
- automobile smart key / CarSharing, connected to the compartment, which creates an proprietor-automobile-contract provisions chain. An owner can briefly associate an extra key (valet mode, provider mode) or surrender all rights to one more proprietor (sale). If GPS system is put in in a vehicle, it’s additionally feasible to situation a key that operates inside a definite box (valet, carrier). In such case, a mobilephone or a wise key chain can act because the key;
- hotel, shopping mall, health club, SPA. Universa wise contract can create a unified room and locker key; SPA and fitness move card; purchases from merchandising machines, getting access to parking a great deal, and many others. the important thing will also be a RFC Tag in addition to a smartphone, with or with out NFC. All elements can be constrained in terms of time or obtainable credit score;
- IoT; wise issues for domestic. smart contract associates the purchased item with the consumer. Universa permits sensible things to work collectively and provides an easy mechanism for managing distinctive users’ rights devoid of cyber web entry. It additionally offers an easy mechanism for coping with rights over one aspect to the different at promoting transactions;
- smart home. It allows for to associate domestic with the house owners and visitors using their identification, to manipulate roles and rights, and to operate devoid of internet (provided a different node is put in) after the handover of rights;
- gas stations, toll roads, parking a whole lot. A cell with the web entry can operate as a transponder. A client receives an inquiry to his or her cellphone through the internet, when approaching gates, the cellphone sends a confirmation request or assessments the approximate coordinates, after which authorizes a price;
- Warehouses, transportation, cargo beginning. smart RFID seals, the use of QR codes contracts.
- Universa is real “smart money“.
business-common sense of the bitcoin-blockchain is proscribed through wallets and their balances. sensible contracts on Ethereum function with a limited set of metadata. Neither of both blockhains can deal with standard task of linking a hard and fast sum of money to a wise contract in the forex required for a particular enterprise in the mean time – euro, dollars, or rubles. Universa makes it possible for to create and transfer existing currencies as smartly because the new ones during the contract. Universa offers a gateway for capabilities that automatically accept input electronic files (digital money, obligations or agreements, highbrow property, excises, bids on auctions and tenders, id or electronic passports) and creates regular output files based on the rules and provisions of “smart contracts.” The implementation of Universa makes the transition to electronic commerce very low-priced – for example, through the use of the Universa in a position-made communique service, it is easy to buy digital materials from people (as an instance, photos or articles), trade all kinds of goods, provide loans, exchange or promote securities, and function with other financial devices as neatly. The legal entities acquire a effortless device for working with excises, tenders, auctions, transaction passports, customs declarations. practically any initiatives are with ease and easily automatized by functions and sensible contracts of the brand new Universa blockchain.
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