Hello everyone, today I will explain about a new project. It is a crypto project, but with the real-world product. So this is not just something abstract like another blockchain or protocol, but you can also actually touch it. But be careful not to break it, haha . So, I am talking about Universal Labs (ULabs) and its Ubbey Box.
CONCEPT BEHIND THE PROJECT.
The Ubbey Box is a device that serves as a personal cloud storage, the first version of which is available with 1 or 2 TB of space. The users of the box can store and access their data from anywhere and anytime. The box can be connected to various devices such as TVs or game consoles. But in addition to storing data, the Ubbey Box also serves as a full node for the Ubbey Network, effectively meaning that owners of the devices can use it not just as a storage but also earn some network reward in the form of YOU token.
THE TECHNOLOGY USED.
The Ubbey Network uses the Proof-of-Storage/Space consensus algorithm, which incentivizes users to have available space on their devices. The registry of data ownership is maintained with the help of the Ownership Protocol (OWP) that is also capable of managing identity.
The Ubbey Box however is not the only solution for OWP. According to the developers, the protocol can also be used for data computation and exchange solutions as well as a tool to combat counterfeit products by maintaining digital identification.
THE UNIVERSAL LAB PRODUCT.
As of now, the ULabs has already sold the first shipment of 1,000 Ubbey Boxes. The testnet will be launched in October, while the mainnet and OWL protocol are expected to be fully integrated with the device in December.
FINAL REVIEW.
ULabs and its Ubbey Box is definitely a project that deserves more attention. It aims to create not only infrastructure, but also provides a real-world product that can be used in any household or business environment. The Ubbey Box serves as a personal cloud device but can also function as a masternode on ULabs' blockchain meaning that at some point users will be able not only to return their initial investment in the device but also start earning additional tokens. The technology developed by the ULabs team has other existing applications and can be expanded to future use cases. The team itself is very strong at all aspects and has excellent background.
TOKEN INFORMATION.
Token name: YOU
Token type: ERC20
Price: 1 YOU = 0.0051 USD (0.00001 ETH)
Fundraising Goal: 20,200,000 USD (40,000 ETH)
Total Tokens: 10,000,000,000
Available for Token Sale: 40%
For more information about the project, visit the following links :
ULabs website: https://ulabs.tech
ULabs Telegram: https://t.me/universallabs
Whitepaper: http://ulabs.tech/images/Universal-Labs-WhitePaper.pdf
