Imagine all tokens are transferable and united in the blockchain and main way of value sharing in the world in Blockchain. It may be hard to think of this, but this is what Universal Protocol wants to do.
Universal Protocol team is an alliance of veterans of Blockchain who want to make Blockchain the most adopted mean of transferring values.
The Universal Protocol Platform, a transformational development for its blockchain business, will create all cryptocurrencies available and convertible on a single network - and at a shape more suitable and secure compared to currently offered.
Developing a sensible value proposition for the huge majority of those who have yet to take part in the cryptocurrency marketplace, the UP version paves the way to the mass adoption of blockchain technologies by beating three of their largest challenges facing the sector: the absence of interoperability between blockchains, worries over cryptocurrency safety and an present product set that's been mostly focused on serving the insecure fascination of a vanguard couple of.
UP Platform is conceived by a coalition of both cryptocurrency businesses and blockchain leaders - such as Brave, Blockchain in Berkeley, Cred and Uphold - that the UP Platform is particularly intended to aid decentralized ledger technology attain mainstream adoption because the universal way of moving value on the web and deliver economic advantages to many, i.e. everybody that has a bank account.
Universal Platform aims to solve some big problems
The UP Platform addresses among the challenges confronting blockchain technology by permitting value's instant and easy transfer across distinct networks that are decentralized. Providing a frequent language whereby protocols that are incompatible may'reason' with every other, UPP will lower cost, the time and risk of trading cryptocurrencies and tokens. By building basic design for interoperability, the Universal Protocol Platform enables users to socialize with a number of cryptocurrencies (and a wealth of different resources ) on a single blockchain. UPP unites technologies -- book functionality and intelligent contracts -- with innovation Proxy Tokens that are convertible.
For financial institutions, the system simplifies the custodial and specialized challenges of supporting cryptocurrencies the UPP version provides any advantage that is tokenized being compatible with almost any Proxy Token represented by a standard. Because of this, so as to encourage any cryptocurrency associations will have to compose their business logic for Ethereum.
For investors, the stage generates a functional and'spendable' method of cryptocurrencies: for instance, users may borrow a giant leap, in fiat monies from their Proxy Token holdings for the business. Cryptocurrencies inheritability and insecure to maintain by introducing lots of the safeguards related to older assets is made by proxy Tokens. For exchanges, the stage streamlines the process of listing cryptocurrencies .
Exchanges will have to include Ethereum ERC-20 support to record Proxies representing any alternative or cryptocurrency asset category. For innovators, the UP Platform provides the liberty to make blockchains for jobs, because it makes any blockchain compatible with the system and its ecosystem of DApps contracts and trades that are decentralized.
Making everything united on Blockchain is such a perfect idea!