Over the past 10 years, there has been increasing demand for cloud storage services, both for the public and private storage types. This might be due to the simplicity and scalability that cloud computing models offers to data saving, processing and distribution locally through the internet.
In public clouding, the data is totally given out to a reliable centralized data management platforms such as Google drive and Drop Box and maintenance fees here is quite low and documents can be easily assessed.
Nevertheless, giving out data to public storage service providers can be dangerous. For instance, when users default in paying bills, they might lose access to their data, besides increase in price might surface and even worse, the central data repository might get hacked.
Private clouds on the contrary has more privacy and somewhat safer to use. They are more difficult to breach and the management platform cannot access the user information. This notwithstanding, personal clouds are not without their own problems. It is rather difficult to set up and should the device fail, all parts of the data might be lost.
Universal Labs intends to leverages on the advantages of private clouding option while jettisoning the demerits by incorporating blockchain technology to simply and improve the data storage process.
Components of Universal Labs
The Ubbey Network
This is a disaggregated network driven by Ubbey Box and Ownership Protocol that allows transfer of ownership of digital physical resources in a friend-to-friend manner. Immediately an asset is registered, it can be shared straight up across IPs through Ubbey Network very swiftly.
Ubbey Box is a built by Universal Labs, a storage device for clouding data for personal use and for enterprises as well. With Ubbey Box, uses have ample access to sufficient and safe data saving space that could be up to a terabyte.
It features a block creator that is chosen at random from the several nodes with regards to Proof if Storage program. Uses can use this box to create YOU tokens by sharing their custom storage space and get compensated with YOU tokens to further drive and shield the platform.
Consensus Algorithm
Universal Labs has designed the Ubbey Network to make use of PoS consensus algorithm and use YOU tokens for making payments. The Proof of Space have been optimized to give enormous space to users. It is basically a protocol between two parties, the Prover and the Verifier with two different phases. When initialized, the expectation is that phase A saves up a data of specified size, whereas, the second phase contains only a fragment of information.
Later on, the other phase can trigger a proof execution which is subject to its ratification in the even.
The Ownership Protocol Control
Traditionally, public ownership registry is an open record that link assets, be it digitized ones like tokens or a more physical asset like a building.
Digital identity is essential when it comes to ownership transactions as it allows interactions with several users in the digital world. This notwithstanding, conventional identity systems are expensive, not centralized and can fail.
Universal Labs seeks to partner with third parties such as blockchain digital service companies and subsequently evolve an ID system that is flexible enough yo accommodate every form of ownership transactions.
Universal Labs Token
Universal Labs tokens called YOU token and used to make payment for all transactions done on the Ubbey Network. Contact creation, execution and personalized data clouding are paid for on the platform using YOU token.
Peer-to-peer data sharing is enabled on the Universal Labs platform and profits asre shared in YOU tokens as well. Again, YOU coins is used to pay for the initialization and execution of contracts, trading digital assets, storing up data and the retrieval of data as well.
Conclusion
Universal Labs is a data clouding platform that uses the Ubbey Network to privately cloud data, making it more safe and easy to assess and share for users.
TEAM MEMBERS
For more information visit :
✅Website: https://ulabs.tech
✅ Whitepaper : https://ulabs.tech/images/Universal-Labs-WhitePaper.pdf
✅Telegram: https://t.me/universallabs
✅Announcement: https://t.me/UniversalLabsAnnouncement
✅Official Twitter: https://twitter.com/ulabstechnology
✅Reddit: https://www.reddit.com/r/universallabs/
✅Medium: https://medium.com/universal-labs
✅Linkedin: https://www.linkedin.com/company/universallabs/
✅Facebook: https://www.facebook.com/ulabstechnology/
