Universal Lab: A Platform for Decentralized Ownership Swap
Universal Labs has developed a unique blockchain network called “Ubbey network” alongside the “OWP protocol.” This makes it possible for users to have peer to peer exchanges of all types on the network.
Universal Lab is developing a unique blockchain solution with the aim of encouraging digitalization of asset ownership. This will make it possible for users to transfer their asset via the Ubbey network and the OWP protocol. These solutions coming alongside the DApps made with the OWP protocol came up with the goal of joining the virtual and the physical universe to create a frictionless ecosystem.
The Ubbey network is a decentralized cloud storage network. It gives users the ability to control their files with total privacy and a high grade security. Users will be able to save up to 90% of storage cost compared with what the market is offering. Users will not have their personal information collected like the public cloud system.
Individual’s file are technically encrypted followed by an intricate distribution via the decentralized network. It is important to note that it can be accessed only by the individual. Users can also earn YOU coins when they share storage space on the network. YOU coins are cryptocurrencies used to transact within the network and can be cashed out for real dollars.
The Ubbey Network Process
Users can access the personalized cloud storage anywhere via the Ubbey Box. It is fast, reliable and easy to use which also acts as a complete node for the Ubbey Network. Having an Ubbey box entitles one to being a member of the Ubbey Network. With the Ubbey box, mining YOU coins can be actualized as well. This is done by easily connecting the storage space to the network while utilizing the personal storage space.
The currency of the Universal Lab is the YOU coins. When looked at closely, the YOU coins crucial in the following situations;
• It can be used to buy storage space
• With it, users can share various digital assets
• Use the dApps built on the Ubbey Network
• It can be used to create and execute all smart contracts
• It can also be converted into other currency like BTC, ETH and even US Dollars
THE OWP PROTOCOL -a decentralized protocol ownership exchange on the Ubbey Network
The OWP protocol makes it possible for user to monetize their intellectual property via setting the universal standard for digital data exchange and ownership. The ecosystem is powered by blockchain where data storage space are bought or rented with ease.
The team behind Ubbey Network commenced this project in December 2017. The prototype was ready in February 2018 and the Testnet will come up in October 2018. The launch of the Mainnet will happen in December 2018.
The YOU Tokens
Through YOU tokens, the Ubbey network will ensure the proper functioning of the network.
The total supply of the entire YOU token coin is 10bn. 4bn (40%) of this tokens will be sold during the token sale period. The price of 100 000 coins will be equivalent to 1 ETH. Also, the hard cap for the entire sale is 40000 ETH
At the moment, Universal Labs has sold a thousand Ubbey Boxes – its first shipment.
The team of the Universal Lab is composed of serial entrepreneurs, business developers, software engineers and many veterans with vast experience in the Blockchain Industry.
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Author - Coltpython
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