Ultrain
1.What makes Ultrain special?
2.What are the differences between Ultrain and other public chain projects?
3.What are the advantages of Ultrain’s technology?
4.In what ways can Ultrain’s public chain be applied in the future?
5. What famous institutions are investors in Ultrain?
1.What makes Ultrain special?
These days due to the situation happened to blockchain like Bitcoin’s hard fork episode and the Ethereum DAO hacking incident, the question about modifications appeared. Will they be guided by a central decisionmaker or by the network community when the situation demands? Ultrain’s network is ready to present a special feature that supports democratic voting to protect technical consensus integrity.
In addition, due to the demand of the Information Technology infrastructure the programmable business society appeared and represented a synthesis of blockchain, AI and IoT technologies. AI needs to run on the blockchain to provide fair and efficient smart decision-making services. Right after this, the blockchain serves as the basic infrastructure for value delivery, integrating and connecting IoT equipment and networks to provide services to external parties. So, the main idea of the new public blockchain infrastructure is that it requires lesser computation to support the operation of the public blockchain system, which frees up substantial computing power, to be reorganized and re-deployed for purposeful computation, empowering the real economy to create social value.
AI Support is a complex and comprehensive business ecosystem that is driven by technology and built on the foundation of democratic autonomy. IoT Device Support is another core feature of the programmable business society that represents the widespread use of IoT devices. Transactions will take place on smart devices on a large scale, where value exchange and transfer occur automatically based on a machine consensus e.g. distributed energy.
“Trusted Computing Creates Value” is a key idea of Ultrain and it serves to liberate more computing power to create social value for the real economy while ensuring the security of the blockchain. Through innovations in Ultrain cryptography, only 1% of the network’s computing power is required to implement mintage when a consensus is formed every round, and the remaining 99% of the computing power can be used in trusted computing to manage services, such as CPU computing, GPU computing, memory computing, hard disk resources, bandwidth resources and so on, for external parties.
Ultrain has designed a new programming syntax for smart contracts based on the design of the JavaScript language, including providing standard code library support; providing a series of standardized smart contract templates using the template technology; and implementing smart contract formalization and colloquial programming practices using the machine learning technology, thereby simplifying the learning process for the layman.
2.What are the differences between Ultrain and other public chain projects
Ultrain provides a computing service called trusted computing. Compared to traditional cloud computing, this is a brand-new computing service model based on a blockchain architecture. Components such as CPU computing, GPU computing GPU is optimized for taking huge batches and performing the same operation over and over quickly, while CPU is idea for to handle few software threads at a time, memory computing, hard disk resources, bandwidth resources and others, can all be included in the scope and framework of this model. All these will take on the characteristics of blockchain computing i.e. difficult to tamper with, cannot be destroyed, and are transparent and traceable to all:
Reinforced Learning Technology based on blockchain – Network Management on non-deterministic Common Consensus – High Performance Trust Computation – Value Computation – User Friendly Smart Contract – Blockchain IOT.
Consensus POL has the following features:
1. Completely decentralized architecture. A completely decentralized architecture ensures the security of the public chain system. The network itself is a complete P2P network without any special nodes.
2. Ultra-large-scale network cluster. Networking of more than 1 million nodes is supported, and the entire network supports horizontal expansion while maintaining linear growth in performance.
3. Multi-terminal support. In addition to nodes with a large computing power, various smart devices including mobile phones are able to connect to our network, providing the corresponding computing power for the entire network.
4. High-performance execution for every blockchain system, the overall performance is evaluated based on two premises: transaction performance and the confirmation time. The new framework offers two consensuses that are specifically applied to the main and side chains embedded in Ultrain, ultimately enhancing the system’s transaction performance and enabling efficient confirmation time.
5. Decentralization salability design. The decentralization in the entire architecture design with the intent to avoid the concentration of machines in the mine pool is considered. An envision of a mining infrastructure is more like an ordinary computer, which can be placed in homes across the globe. This device could be used as a computer, but when it’s not used, it becomes a node on the network and can perform mining functions to the benefit for the owner. This is the design goal that Ultrain targets to achieve.
3.What are the advantages of Ultrain’s technology?
First, let’s mention proof of love, however, we don’t buy tokens, so we do not make deposits.
And the last but not the least is BGOGO and the same token mining system, probably X as well.
Basically, the blockchain of the 3rd generation is found. Ultrain contains of the main chain and the lateral chains. The main chain serves for the whole system’s security supply and secondary lateral chains’ calculation result. So, the main chain requires more TSP while confirmation may take longer. The lateral chain serves as a working environment of a particular DAPP, so it requires fast confirmation but not the high performance of TSP. In order to perform this requirement, the structure of a random trusted consensus offers two consensuses, one of which is applied to the main chain and the other one to the lateral chains. The speed of the main chain reaches 20 000 TPS and the confirmation time takes 15 seconds. TPS of the lateral chains fluctuates from 3000 to 5000 and the confirmation time is 1 second.
As already mentioned above Ultrain has its own “random trusted consensus”. The advantages of it are having the same level of security as POW but reaching a 1000 multiple growth of performance and while having a total decentralization usage of only 1% from the computing power of the traditional net POW.
And of course, let’s not forget about the strong team!
Rui Guo the cofounder and SEO. 8 years of work in IBM as a tech director of IBM Global Consulting Service; 4 years of work in Alibaba Group as a security tech director.
Emma Liao – cofounder and CSO. 1 year in Emigrant bank and making relations with VIPs of Asia; 4 years in Goetzpartners (top 10 of the best Germany consulting companies), created and lead a business in China). Created Pioneer Capital, focus on the investment into technologies, retails and new spheres of economics. The advisor in Atlas.Network project.
Ning Li cofounder and CTO. 7 years in Motorola, the Senior Architect OC. 3 years in Alibaba Group on cloud ОС. 1 year in Ant Financial.
Yufeng Shen – the main architect. 4 years 9 months as a senior engineer in Google, 2,5 years in Alibaba Group, the head of AliOS, including WebApp and AI systems.
So, the strong team, powerful funds, partnership with stock exchangers and the system of tokens’ generation claim that the project has lots of perspectives. In addition, BGOGO motivates.
4.In what ways can Ultrain’s public chain be applied in the future
This business approach will be used in a wide range of various spheres as utilities, transportation, medical service, agriculture and finance, in order, to significantly reduce the business transaction costs. The most outstanding advantages are the absence of the trust loss, automation and intelligence. In this business ecosystem, the organization structure will be more flexible, agile, autonomous and self-disciplined. People come together, motivated by a common goal; the organizational goals and incentive mechanism are open, transparent, consensus-driven and automatic, participants voluntarily and autonomously contribute abilities and resources to promote the realization of goals, hence lowering corporate governance and operating costs.
5.What famous institutions are investors in Ultrain?
Investors:
Morningside Venture Capital. It was one of the earliest organizations to engage in early stage venture capital investment in China. Currently, it manages four periods of USD funds and a period of RMB funds, amounting to approximately US$1.7 billion. The investors come from well-known international sovereign wealth funds, family funds, fund of funds, university foundations, etc. Its founding partner Liu Qin has more than 18 years of venture investment experience, focusing on media, entertainment, consumer services, corporate services, AI and Internet finance. He was named Best Venture Capitalist by Forbes, top 10 Chinese Venture Capitalist by Zero2IPO Group and Best Venture Capitalist of the Year by ChinaVenture. Morningside Venture Capital has invested in companies such as Sohu, Ctrip, Thunder, YY, OneSmart, Phoenix New Media, Xiaomi, Kuaishou and aihuishou.com.
Hongtai Capital. It is a diversified investment holding company with unique advantages in China. It was co-founded by the famous entrepreneur Yu Minhong Building a Programmable Business Society 45 / 62 and the senior investment banker Sheng Xitai in 2014. The core business includes investment management and entrepreneur services, wealth management, consumer credit report and other ecological business. The unique founder combination has made Hongtai Capital well versed in every step of entrepreneurship from startup to IPO. The company has extensive and in-depth influence among Chinese entrepreneurs and listed companies. Hongtai Capital focuses on AI/big data, financial technology, consumption upgrade, sports and entertainment, etc., and has invested in projects such as 51 Credit Card, Rage Comics, Edianzu, Dorabot, etc.
Draper Dragon Innovation Fund. It is one of the core funds of the Draper Venture Network and has long focused on venture capital investment in cutting-edge high technology. At present, it manages multiple RMB and USD funds as well as several special investment funds in the blockchain field. It has participated in the early investment in Telegram, VeChain, Aelf, Ledger and other projects in the blockchain field.
Yang Luyu. He was the founder and CEO of the musical short video app Musical.ly, which was acquired by Jinri Toutiao with a valuation of US$1 billion in 2017. He had previously received hundreds of millions of dollars in financing. The investors included GGV Capital, Qiming Venture Partners, DCM China, GX Capital, Morningside Venture Capital, etc. Yang Luyu was the product management director of eBaoTech. As a serial entrepreneur, he once founded ScrumCN, sino-coupon.com and other companies.