Kamis, 07 Februari 2019

UDAP - Reducing the Cost of Building Asset Oriented Applications

Hello everyone, this new post I want to introduce about a very interesting and good project that is UDAP, and for more details, let's just go to the following discussion:


UDAP, is blockchain abstraction layer that can signi´Čücantly reduce the cost of building asset oriented applications, both in the development time and runtime.

Technically UDAP provides multiple modules to speed up app development, such as:
  1. 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.
  2. State channels service, to allow applications to conduct transactions mostly offline and secured by public blockchains, such as Ethereum.
  3. Data obfuscation service, to hide the ownership of assets, using Ring Signature technology.
  4. Secure content distribution for digital content assets, using Proxy Re-Encryption technology.
  5. Exchange service, for decentralized asset trading, including app-currencies and asset tokens.
  6. Universal wallet for versatile mobile user interface to deal with any token-backed assets that UDAP has helped to maintain.
The Goals

Our ultimate goal is to build the Internet of Assets. Its value proposition has a clear boundary, and includes the following concrete deliverables:

1. Develop an asset protocol through understanding the "assets" in our world from a blockchain perspective, and create abstraction of the general behaviors of assets; Define convenient APIs for traditional vertical applications to integrate with blockchains, which would not require application developers to have a deep understanding of blockchain and decentralization technologies.

2. Provide a reference implementation of UDAP protocol, on top of Ethereum initially. We abstract the most central part of decentralized computing, decentralized storage technology and decentralized messaging mechanism into a concise and effective API.

3. Implement a Universal Asset Wallet(UAW) for end-users. The UAW will capture the most useful interaction patterns with assets that allows users to store, copy, transfer, sell/buy, and trade a variety of assets deposit from third party applications in one place. Such a design for third-party application development, in fact, is a very favorable news, because the third-party platforms can focus on the current core business logic without having to figure out how to build their own assets blockchain and user Interaction.

4. Engage cloud service partners to offer Asset Blockchain as a Service (ABaaS) so that organizations can easily create their own private or consortium asset chains that can connect to the UDAP public chain for value exchange.

5. Build a global C2C marketplace to enable asset trading and exchange without intermediaries.

6. Support business to transform to token economy as a technology enabler through
  • a highly scalable architecture that allows for linear scalability and supports thousands of applications and near one-second response with finality, with a total throughput of 10k~100k TPS.
  • an end-to-end privacy protection mechanism that may handle highly sensitive asset information for their customers.
  • a unique security model to reduce attack surface.

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)
  • For any private token sales, please contact us at info@udap.io.

To find more relevant details please follow several sources for the following references:

Bitcointalk username: Sinseykoin

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