Cryptocurrency has been the most discussed issue nowadays. People love this new kind of money because it is pretty functional, manageable, and easy to use. Cryptocurrency also could be one of future investment, because the value can significantly increase from time to time. Cryptocurrency has been widely known since the bitcoin launched. Bitcoin was one the of the most popular cryptocurrency nowadays. The value of bitcoin has raised steeply since it first launched, that is why people try to mine and investing in it. Even though it is indeed widely known, bitcoins still has a lot of issue and problems. It also needs some improvement. So people have competed to made others cryptocurrency which similar to it. Uplexa is one those new cryptocurrencies.
uPlexa is a brand new cryptocurrency that been launched in early of October 2018. The developer of uPlexa claims this cryptocurrency is similar with bitcoin, but has higher improvement and easier to use, even by the newbie user. For your information, uPlexa is a P2P (peer to peer) system of electronic payment. It mainly focused on harnessing the power of IoT or known as Internet on things, which connecting things (such as money and gadget) into the internet. Beside it, uPlexa also support an anonymous payment which is secured safely. If you wonder how to mine them, you can start by using the feature of IoT transaction mining. Based on all the plus value we have mentioned above, this brand new cryptocurrency will have a golden chance to compete with others cryptocurrency.
Basic Information About uPlexa
Name: uPlexa
Coin Supply : 10,500,000,000
Ticker: UPX
Amount of Airdrop: 36,750,000
Amount of Premine: 7% (For the bounties, infrastructure, airdrops, partnership, exchanges, team, and partnership growth).
The algorithm of UPX: Variant 1 (CryptoNight-UPX) by Modified CryptoNight-Light
LMWA Difficulty Algorithm
Bulletproof Transactions
Introduction of uPlexa
uPlexa, or spelled as you-plec-sa is one of the recently launched cryptocurrencies on the internet. That name is a combination of you and plexa. Plexa definition itself is to interlink or connecting some multiple smaller threads to build and form a master of a thread. The blockchain of uPlexa will be strengthened with billions of IoT devices, which currently used around the world. This cryptocurrency was made using the CryptoNight Algorithm. That will provides viable and better options to IoT users too. uPlexa could be mine by using the IoT devices and some webmaster which contains a high-traffic website. Built up with uPlexa NZCM (Near Zero Congestion Model), the web owner could incentivize their web visitors to mine the coins for the company. It also will give some rewards and credits for users. The uPlexa blockchain system will target the webmaster and individuals IoT devices to form a decentralized network.
The development team of uPlexa has focused a lot to innovating and creating better IoT mining experience. This is also having a purpose of preventing the miners from ASIC for exploiting their network. But, mining by IoT is not only the primary purpose of it. uPlexa is also providing an adoption form through their service provider payments which are anonymous. Anonymous payment services are one of the most loved features because it ensures the secure way of transaction. This feature similar to any eCommerce platform that targeting the deal for the clients and store is anonymous.
Since privacy and anonymity have been debated within all cryptocurrency users, ¬¬uPlexa has been fixing this issue by using the CryptoNight algorithm. Beside their benefit of giving plenty of options for the users, this feature also ensures and provide private transaction which untraceable. To understand this brand new cryptocurrency and how the system works genuinely, let's take a look to our list below.
How The uPlexa Works
The Model of IoT
By their modified CryptoNight algorithm, uPlexa could provide the anonymous payment and specific security into your account. The previous version of IoT devices mining, which runs through the default CryptoNight algorithm, isn't longer profitable and viable. So the developer made the latest version of it that could give more beneficial and useful value for the users. What makes this cryptocurrency different than others is uPlexa is backbone's network is powered by all of IoT devices in the world.
The primary purpose of this system is to generate enough amount to pay the bills electricity, by the coins which obtained when the IoT devices are running and other resources idle. In some developing countries, where mainly IoT devices made, this benefit will be a great solution. Because the more you have and use the tools, it will gain more coins too. The developer of uPlexa plans to developing their software to make it suitable for any IoT devices, so they can obtain it by using the CPU idle of those devices. The amount of uPlexa that will be earned depends on the user settings and limit from the system. Soon, all IoT devices will be supported by this system, but first, the developer will focus on the device which listed below:
• Laptops and Desktop PC
• Tablets and Smartphones
• Smart TV
• Smart and Modern Kitchen Appliances
• Raspberry Pi's
• Smart Car
• Servers, such as server farm and data center
• Others devices as the journey of IoT developmentNear-Zero Congestion Model (NZCM)
Another cryptocurrency has faced the issue of high-cost fees and heavy network congestion. This made the transaction getting slower and more expensive. uPlexa developer has to see and study this problem. So they make a model which named by Near-Zero Congestion Model (NZCM). This model has several functions, they are:
• Harness the massive adoption of IoT devices
• Chain transaction using the uPlexa NZCM API
• Disapproval for any small number of trade
• Setting higher fee for the small amount of transaction.
By using the Internet on Things devices which has a massive amount and continuing adopting it, uPlexa will obtain a tremendous amount of network support to strengthen their blockchains. The other definite advantages by using NZCM API in uPlexa is the user didn't need to use the actual blockchain to transferring a large portion of the transaction. Those systems are also allowing the webmasters, corporation, and app developers to credits the uPlexa user while they are mining the coins for specific purposes, like the app, business or services. Then if the users spend their uPlexa in those platforms, the transaction of it will transfer through their database, not in the blockchains.
The mined Uplexa is mostly spent for anonymous payments, such as telecommunications providers and internet, and also the eCommerce. Unlike others bitcoins, uPlexa doesn't prioritize the micro and small transaction as their primary priority. Because of that, uPlexa has set the minimum limit about how much the amount uPlexa that could be sent. The system is limiting the transaction no less than one uPlexa. But this amount could change anytime, depends on the terms and policy of uPlexa. For the transaction below five uPlexa, they will be giving the scaling fee too. Even this policy sounds a little bit hard especially for new minners; the developers insist on using this policy is to keep the fast and high accuracy transaction in blockchains. If the system is allowing microtransactions in there, it will be flooded by any microtransaction. This kind of trade could cost two times higher than the typical transaction. It also will make the deal getting slower.How The NZCM API by uPlexa Works
The API of uPlexa is used for providing the less congestion in the network. This API will limit the amount of microtransaction, reducing the on-chain transaction, and reducing the fee for project and company. To understand how the API works, let's pay attention to the story below:
John is the owner of a web called johnwebsite.com. He wishes to provide a system of credits to his users, so they can order the services, purchase the goods, or making some donation. He can persuade their user to connect their IoT devices to John's website, to mining the uPlexa coins. As the return, the user will be rewarded with some credit which comes from the utilizing of API. If the amount of coins has reached an amount, they can use it to buy something or getting credits for a discount on that website.
The mined coins will send to a wallet, John's wallet. But dont worry, each individuals user and all the hashes amount they have solved will be saved and tracked in the uPlexa API. But when a user, called her as Jane making a purchase, the amount will be deducted from Jane's balance through the API than making the separated transaction from John's wallet to hers. To understand it better, you can see it in the scheme below.
The Introduction Of uPlexa eCommerce
The industry of eCommerce has multiplied, it could produce more than $2.3 trillion in a year based on worldwide revenue. Those revenue has predicted it could increase up to $4.88 trillion in 2021. The uPlexa developer will launch their platform of eCommerce to supporting the fiat and cryptocurrencies. This eCommerce also use for making an online purchasing which secure, private and anonymous. The uPlexa eCommerce can be used anonymously both by the client and the webmasters. For the webmaster, there won't KYC for them; they also will be paid anonymously through uPlexa. Other things like design, plugins, and developer will be available too in the eCommerce so that the webmaster could purchase them with uPlexa.
The good news is, the uPlexa won't charge any fees until the user's a profitable store. That means the store remains free until you make three times of store fee monthly. It cost around 29 USD per month for the primary type of stores. If you could surpass amount more than 29 USD, you will charged in daily, or bi-weekly. Depends on the terms and situation. The uPlexa eCommerce team has been working in this industry, from Wordpress (WooCommerce), BigCommerce, and The Shopify. Those team will be firmly focused on creating the customize and anonymous experience of eCommerce. So, the uPlexa will be focusing their priority both to their eCommerce and the increasing conversion of their customer.
Anonymous Service Payments
uPlexa will connect the service providers with secret payments. This thing will be achieved if the developing startups are making multiple partnerships which allowing their user to for the services with using uPlexa and KYC as the optional payment method. There is some reason that the payments should be anonymous:
- The anonymity of payments and identity will give the user protection from spy programs which could be stealing their private pieces of information
- It also will protect the user's data from being sold for any marketing purposes
- Since uPlexa is a global currency, the user no need to pay for the tourist fees in other countries
- Keeps your business relationships and suppliers as a secret
- Escape government service bans and repression
- Avoid the blackmail from the employee and ISP that spy user's data
- Keep the user payments and acquiring as a secret
- Avoid the hackers to trace to your phone number and any others online accounts
- The user could pay the family with their account
The function of anonymous payments in uPlexa going far beyond the codebase, it surpasses the large corporations' realms and policy about anonymity and KYC. The hardest challenge to developing this feature will be finding partners and companies that willing to provide anonymous and secure options for their services and system. So the uPlexa will have a strong focus and strategic partnership to help uPlexa achieving their true potentials.
The Profitability and Viability of IoT
uPlexa will send mining into any IoT devices. This could be accomplished by using and running the uPlexa's mining software. That software is using less CPU than any popular application, like facebook, camera or Netflix. So it will prevent the devices from being less responsive or overheating.
That is all about the information uPlexa. Hope that will enlighten you about this new and functional cryptocurrency. uPlexa is not only functional but also has a big chance to be a good investment in the future like any others cryptocurrencies.
Ann Thread: https://bitcointalk.org/index.php?topic=5058404
Website: https://uplexa.com/
White Paper: https://uplexa.com/content/uPlexa-Whitepaper-EN.pdf
Social Media:
https://twitter.com/uplexacoin
https://discord.gg/a7mAQwJ
https://www.reddit.com/r/uPlexa/