UNIFICATION (ICO REVIEW) – A Cross Chain Protocol For Data Liquidity
Data standardization is the critical process of bringing data into a common format that allows for collaborative research, large-scale analytics, and sharing of sophisticated tools and methodologies. It is basically one of the key technique of ensuring the data quality.
The influx of people into the cryptocurrency market has made an astronomical rise in the adoption of blockchain technology. Numerous supporters, investors from different field of professions and businesses around the world have embraced new technological innovation which has helped reshape the world. 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 UNIFICATION and they have set up a unique platform solving the challenges been faced in the data standardization and interoperability across enterprise tech stacks.The team has developed a blockchain-agnostic protocol that transforms the way data is exchanged, improving on the current system and making it more efficient. When Unification’s protocol becomes functional, it will allow the seamless standardization of different datasets via smart contracts.
Unification is a decoupled architectural framework that provides generalized state channels for data standardization and interoperability across enterprise tech stacks.
In addition, Unification is a new cryptocurrency company that offers a third generation EOS-based infrastructure protocol that can be used to unify and standardize data from B2B and C2B exchanges.
The app uses smart contracts built to transform data into usable formats and create easier transmission of data between apps while it allows data to be either incorporated or exchanged without performance issues. Basically, you can use it to make the data easier to understand and manipulate for your company. Not only the company will create a software that will enable better data to be put together and used, it will also act as a marketplace that can be used to connect data producers and purchasers.
Many industries have a high demand for data at this moment and users are generally creating data at every moment, so by enabling the users to monetize this set of data that they create, the company is creating a win-win situation because it connects two market actors that really need each other. The company defends that this is a good model because the current blockchain-based identity solutions are not seamless enough, in fact, they are very clunky and depend on the will of the users for adopting a new technology that can be quite complicated.
The Unification Project aims to create standardized data storage and data transfer protocol. This protocol supports various data types, safe, fast, and scalable. The Unification’s blockchain will store the important data state (hashes metadata).
Before, we take a step forward into shedding some light on The Unification Features, let’s take a little detour into The Products, Competitors & Ecosystem of Unification:
The Products, Competitors & Ecosystem of Unification
The components of Unification ecosystem:
Babel is an app for end users and data consumers. They use this as a wallet, keystore, and frontend interaction for the UApp store. Data consumer will also be able to use this app to start data transfers while end users can use this app to manage data permission. Babel will more or less act as a gateway to end users and data consumers in order to interact with the protocol. For example, with Babel, users can disallow location data to be accessed by any apps, or by specific apps.
According to Allie’s blog post (one of the Unification advisors), Unification is a blockchain agnostic protocol. As long as the smart contracts can be ported it should work. This happens because data transfer is done via off-chain transactions. On the other hand, blockchain is used to store metadata, which includes data schemas/properties, user permissions and so on. Which is why Unification doesn’t need to build a new blockchain, they can use any existing blockchain that has enough scalability to transfer and communicate metadata across network participants.
Haiku Server Node Software
This is an app for data providers. Data providers have to install and deploy smart contracts in order to provide a connection between the existing database and the network.
Haiku Client Software
This is an app for data providers. Data providers have to install and deploy smart contracts in order to provide a connection between scripts and the network.
How The Ecosystem Works
There are several projects out there with similar purpose or business field (data decentralization). Some of them are:
- Ocean Protocol
It’s a data exchange protocol for AI. It helps data consumers to generate data result from AI and has its own blockchain. They don’t have effective strategies to onboard customers and there is no data standardization or give end users control over their data.
According to Allie, Ocean Protocol might be the closest competitor to Unification. However, Unification has an advantage as it is just a protocol and not a blockchain per se. It also provides SDK with plentiful documentation to help onboarding customers simpler and feasible. On top of that, Unification also allows end users to decide which data they can share and which is not allowed to be shared.
Datum is a decentralized data platform where users can monetize their own data. Users are able to provide data that they wish to monetize into the platform, and data consumers can buy them using DAT tokens. They’re going to launch their own blockchain, and their data is stored on-chain. Because of this, it might suffer from bottlenecks and scalability issue especially if the data is big and there’s a lot of transactions on the network. Datum doesn’t target enterprise exclusively, rather they’re more like targeting end users who wanted to monetize their data. It is difficult for them to onboard business enterprise and speeds up their adoption because end users must understand and familiar with blockchain and stuff since the first time. On top of that, users have to upload/data on their own without the ability to stop apps collecting data that they wanted to keep private.
The Unification Features
The HAIKU protocol is one of the most important features offered by this company at the moment. It is with this protocol that websites, apps and other tools are seamlessly linked with each other for the construction of a unified app. Not anymore will each technology be an island, as HAIKU will connect them while keeping their sensible information locked away from each other.
The company believes that this type of technology can drastically improve lives. While one app can collect medical data, for instance, another one will privately store the medical records and a third one will receive permission to access them by paying the owner.
HAIKU’s technology can be also used in many other types of situations, like dating apps, ads, tech companies and many more. This will result in an experience is frictionless and seamless. Users will always be paid for their information, will be able to spend their money anywhere easily and will have a unified identity all over the system, which will save some work.
Now that you have an idea of how it all goes down, I know you are surging to participate already. Check out the details below! I am sure it will help!
Token and ITO Details
Ticker – UND
Token type – ERC20
Token Max Supply – 1,000,000,000
Whitelist – Yes
Know Your Customer (KYC) – Yes
Min/Max Personal Cap – 1
Token Release Date – At the end of the ICO
Cryptocurrency Accepted – BTC, ETH
Token Sale: 01 November — 30 January
The Tokenomics & Token Utility
There will be a total of 1 billion tokens created, in which 25% of them will be sold during the ITO (250,000,000 tokens). The price of the tokens is $0.075 per UND. The mechanism to prevent price drop is quite good. Team tokens are locked up for 3 years, with quarterly vesting. Advisor lockup is between 1 – 2 years depends on their role, with quarterly vesting. The private sale cap is 35,000 ETH, no bonus at all. 50% of the tokens will be released at the TGE, 25% in 3 months and the rest after 6 months. The public sale tokens, on the other hand, doesn’t have any lockup.
Hard Cap: 12,000,000 USD
Token supply sold: 25% (20% private, 5% public)
Ecosystem Development: 30%
Market Support: 15%
Founding Team: 12%
Future Team: 8%
Community Distribution: 5%
The Utilization of Tokens in The Ecosystem
Payment to data providers and to end users by data consumers in order to get data and permissions to use the data.
A source of revenue stream for data providers because they connect their database to the Unification network.
A source of revenue stream for end users because they will get paid when there’s a buyer and at the same time still control their own data.
The tokens will act as the standard to value data. It will help everybody to directly exchange their data via buying or selling their data with the tokens rather than doing complex deals of data exchange with other parties. To put it simply, there won’t be any more complex barter. Participants can use the tokens to express data value, enabling other parties to buy or sell it and gain access to it.
For more information, please visit the links i have provided below;
VISION PAPER: http://go.unification.com/visionpaper
BitcoinTalk profile link: https://bitcointalk.org/index.php?action=profile;u=1680409