Introduction:
The invention of blockchain was aimed at changing the status quo, to completely overhaul and restructure the current trend in technology. Some key features in focus before blockchain was invented includes transparency, speed, privacy, high security setting, not to talk of it's highly decentralised nature, all of which was believed to make the world a better place than what was previously obtainable.
This invention can not be safe to have completely met it's purpose of creation, as many key sectors of the world lack the infrastructures needed to implement the technology on their structure, while some are completely ignorant about it.
There are still doubts about the possibility of fully adopting the blockchain technology in the minds of many, the reasons for these doubts are obvious, as there are still certain gray areas that require attention as far as the technology is concerned.
To this effect, a group of highly reputable crypto ethusiasts with vast experience in various aspects of the blockchain came together to propose an unprecedented way of bringing blockchain to the world, their primary aim is to make blockchain the most adopted means of transferring value.
Universal protocol.
Amidst all the inadequacies of blockchain, and the continued cumbersome process required to transfer value, a huge level of discouragement will be expected among willing financial and social institutions who ordinarily would love to invest in the technology as a way of enhancing their enterprise.
Universal protocol is out to bring a solution to the many problems enciuntenco by the blockchain, these problems have truncated its growth over the years. Solving these issues will illuminate the entire crypto ecosystem and increase the reach of the technology to many dark areas of the world. For this to be done, the status quo has to be changed and the general structure needs to be overhauled.
Uniting the world of blockchain.
Universal protocol aims at uniting the entire ecosystem through it's advanced technology feature, the aim is to bring blockchain projects close to one another to work in harmony and synchrony, making the progress of the ecosystem an achievable feat. This will also reduce the sudden "death" of less viable projects, as already successful and more technology advanced project will be there to provide aid through swift value transfer.
It is believed that current amount of funds already circulating in the crypto world, is more than enough to revitalize the entire space through value transfer. Uniting blockchains will also ensure that the many hassles encountered by crypto traders will be totally eradicated, the Multi-staged process involved in converting one crypto coin to the one desired will be greatly reduced, this will also reflect in the way investors and other non-crypto believers react to the ecosystem.
Currency conversion hassle solved.
Typically, it can be very tiring having to go through the many phases involved in converting cryptocurrencies from the one we posses to that which we desire, ordinarily acquiring crypto tokens ought to be elating, but the thought of having to go through all that hassle at exchanges is enough to steal a part of the joy.
First, the desired exchange has to support and trade the coin you wish to exchange for another, another challenge is the issue of depositing and withdrawal wallets, which the user would need to set up, assuming he doesn't have one prior to that time.
Alas, universal protocol has brought a solution to this painstaking process with the on-chain conversions. This enables users leverage universal proxy tokens made available via the smart contract. This makes it possible to convert values from different blockchains without any iota of stress. BTC can be converted to ETH, and vice versa, as well as to other crypto coins.
Universal protocol is built on the ethereum block chain and it forms the basis for these conversions. Therefore, there is a need to first convert any asset to be traded on the universal protocol platform to first be converted to an ERC-20 complaint format before it can be used.
Other benefits.
Besides just unifying blockchains and eradicating the hassles of converting cryptocurrencies, universal protocol like every other blockchain project also seeks to provide, speed, security as well as privacy protection to all users of its platform. The security it offers come in different dimensions which ranges from asset recovery, insured reserve storage, and automatic withdrawal of assets from exchanges.
Token details:
The token ticket is UPT with a total supply of 10 billion UPT tokens, out of which 35% will be available for engineering and development, 5% will be for legal and regulatory issues, 5% for marketing, another 5% for operations and administrations. Then 50% for initial technology set up. The exchange rate for iCO is: 1 ETH = 19,486 UPT (0.01$/UPT). Accepted mode of payment is ethereum, since the platform is built on ether. More info about token and token sale can be found on the website: https://universalprotocol.io/
Conclusion
It is common know that unifying blockchains is paramount for the continuous progress of the Crypto ecosystem, universal protocol through its vast team of experienced and enthusiastic crypto veterans seeks to accomplish this and many other feats all in a bid to make crypto trading experience a remarkable for both old, new and intending crypto traders.
Useful links
Website:https://universalprotocol.io/
Telegram:https://t.me/universalprotocolplatform
WhitePaper:https://universalprotocol.io/static/documents/whitepaper.pdf?version=5.3
Medium:https://medium.com/universalprotocol
Twitter: https://twitter.com/UPPlatform
Facebook:https://www.facebook.com/UPPlatform/
Reddit:https://www.reddit.com/r/universalprotocol/
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