A new era of currency began with the arrival of Bitcoin in 2009 and thus, cryptocurrencies started to build up the momentun that would allow them to dominate the financial market. Thanks to the innovative Blockchain technology, new cryptocurrencies emerged, each one with distinct characteristics that would not only set them apart from the rest, but would also provide investors with a whole different variety of benefits that have not only revolutionized the traditional financial system, but also conceded cryptocurrencies a high investment potential.
The blockchain technology created for bitcoin and other cryptocurrencies grants important advantages to invest in this asset, particularly due to the fact that its control does not depend on a central authority and most importantly, the confidentiality of its transactions, providing a sense of security in the investor. These advantages that set cryptocurrencies apart from other currencies explain their rapid growth in the financial market, their popularity reaching even the mainstream media and catching the attention of many companies and investors.
Basically the rise of cryptocurrency and subsequent attention brought to blockchain technology has prompted nearly every industry to evaluate the benefits of integrating the technology into their operations One firm at the forefront of this innovation is UDAP, a Universal Decentralized Asset Platform, is a blockchain middleware that provides Restful APIs and an ‘Asset Wallet’ for application developers to create powerful blockchain based applications without writing any smart contracts. It’s a ‘layer two’ solution to non-fungible assets to simplify and accelerate blockchain application development.
UDAP is a blockchain-based asset protocol that sits between applications and public blockchains to provide Restful APIs and an “Asset Wallet” for application developers to create powerful blockchain based applications without writing any smart contracts.
In what we call a “Asset Oriented Programming” model, app developers take advantage of the traditional Internet application architecture and use UDAP as a layer of asset tokenization, transaction notarization and contract adjudication in case of dispute.
Technically UDAP provides multiple modules to speed up app development, such as:
Token service, to manage the full life-cycle of asset-backed crypto-tokens. Applications can immediately register token-based assets on chain and offer built-in marketplace to their customers.
State channels service, to allow applications to conduct transactions mostly offline and secured by public blockchains, such as Ethereum. Data obfuscation service, to hide the ownership of assets, using Ring Signature technology.
Secure content distribution for digital content assets, using Proxy Re-Encryption technology.
Exchange service, for decentralized asset trading, including app-currencies and asset tokens.
Universal wallet for versatile mobile user interface to deal with any token-backed assets that UDAP has helped to maintain.
- Protocol – Singular
Singular is a new asset account model, it defines how a thing is tokenized and how it deals with ownerships and trading in a decentralized way. The Singular asset model implements a concept: One thing = One smart contract
The Singular project is a natural development in the spirit of some of the earlier blockchain proponents who had envisioned what blockchain with smart contracts would achieve.
The fundamental concept of the Internet of Asset Protocol is to build a “Thick Protocol + Thin Application”.
Application developers only need to have sufficient knowledge and understand their business logic and user experience, Therefore, the application is thinner and easier. A thick protocol based on UDAP middleware helps them to accelerate the blockchain development, to secure the transactions, and to reduce the development costs.
UDAP Middleware Core Services
a) Token Service
The service helps applications to quickly tokenize in-app assets, such as tickets, IP rights, certificates, and game assets. It also helps an application to create in-app currencies.
b) State Channels Service
The service implements state channel technology to help the application to properly partition their application logic between on-chain and off-chain, to achieve the best of off-chain efficiency and on-chain persistence. This is critical to minimizing the cost and providing the best possible user experience.
- Asset Wallet
Harvest Wallet is an Asset Wallet that supports ERC20, ERC721, and Singular types tokens. It provides individual users with great convenience and a unified interface to tokenize, manage and publish their own tokens, various fungible and non-fungible assets, and third-party applications can plug-in the wallet too.
a) Mint, manage and publish tokens
b) Support third-party apps that generate wide range of assets.
c) It provides a programmable UI for third-party applications to develop a complete user experience
UMedia is a marketplace for collectible music and other forms of digital media assets on your mobile phone, it included some complicated blockchain programming modules like all different token services, marketplace, Proxy Re-Encryption, State Channel, Singular. UMedia is to demonstrate the technical capabilities of UDAP. It’s so easy to make a Dapp by UDAP. Developers can use UDAP’s middleware to transfer their normal business into token-based business just like UMedia does.
More different Dapp coming powered by UDAP, such as Ticketing, Social, Education, Gaming, Health, Supply Chain Finance, Data Center, Technical Community, Travel, E-Commerce, Library and so on.
UDAP Foundation issues the UDAP token (also known as UPX token). UPX tokens are used to make deposits required to become a UDAP service consumer. Transaction fees, gas payments (i.e. smart contract execution fees) and persistent storage payments are also usually collected in UPX tokens.
The UPX Token
UPX tokens are implemented using the Ethereum ERC20 standard. The Total Supply is 10,000,000,000.UPX tokens can be acquired in the following ways: Token Distribution Event (TDE) Purchase of UPX tokens from secondary markets, such as cryptocurrency or token exchanges Airdrop (this method is intended as a means of popularizing the UDAP).
Token – UPX
Platform – Ethereum
Type – ERC20
PreICO price – 1 UPX = 0.0164 USD
Price in ICO – 0.0083 USD
Tokens for sale – 4,000,000,000
Distributed in ICO – 40%
2017 Q2 – PROJECT KICKOFF.
Q4 2017 – RESEARCH COMPLETED, Coding started, Core Team built up.
Q1 2018 – UDAP FOUNDATION LAUNCHED, Technical white papers released, Started coding Proof-of-Concept prototypes and demos.
Q2 2018 – UDAP CONCEPT COMPLETED, Expand eco-system and community.
Q3 2018 – UDAP MINIMUM VIABLE PRODUCT(MPV) DEPLOYED AND RELEASED, State channel modules complete, Harvest Asset Wallet (MVP) released, First app – UMedia (MVP) released.
Q4 2018 – UDAP MIDDLEWARE V0.4 RELEASED, Harvest Asset Wallet & UMedia officially released.
Q2 2019 – UDAP MAINNET INFRASTRUCTURE V0.5 BUILT AND SHARED, More business partner’s application released.
Q4 2019 – UDAP MAINNET DEPLOYED, C2C Asset Marketplace released, More community projects kicked off
Q1 2020 – UDAP MIDDLEWARE V1.0 OPERATED, C2C Asset Marketplace operated.
For more information, please visit the links i have provided below;
ANN Thread: https://bitcointalk.org/index.php?topic=5069084
BitcoinTalk profile link: https://bitcointalk.org/index.php?action=profile;u=1680409