Topic: [ANN] Universal Settlement Coin [USC] PoW |No PreMine | Testnet LAUNCHED! - page 2. (Read 1118 times)

SHA256? I wish you all the best and will not be surprised to see the diff skyrocketing within an hour from launch.

Join and waiting

I've updated the main post to make it clear that the main net hasnt yet launched.

We're just finalising the software and full node client at the moment, should be a few weeks until we have everything on git hub and ready for download. Join telegram to get the latest updates.

Hiya, please join our telegram channel or drop me a DM here. Thanks!

While it will likely be possible to use GPU miners immediately after launch, longer term SHA256 will mean CPU/GPU mining will be too energy inefficient.

Hi i can join as a developer if your still looking for one.

Nothing for the GPU miners huh?

What is Universal Settlement Coin? USC has been designed to remove some significant hurdles which prevent large business and corporate users from joining the crypto currency revolution while continuing to offer an uncompromised crypto currency solution for day-to-day activities. We are specifically focused on replacing the existing service used to make international payments around the world; SWIFT.
USC is not just for corporates, in fact everyday users will be able to send and receive USC coins almost immediately for very small transaction fees and as we expand our partnerships then we expect USC to be used as a global medium of exchange. We refer to the standard day-to-day functional as the ‘Retail Lane’.

The second lane, called the Corporate Lane, is designed for corporate customers who want to use the global value exchange potential of crypto currencies but are unable to do so today due to concerns with the fungibility and sourcing of the underlying crypto currency, such as Bitcoin, face. The major difference is that Lane 2 will solely use coins which have been freshly minted (mined) or coins which have only been used in Lane 2 transactions. Miners who support the Corporate Lane will be rewarded with higher fees as corporates will be charged by an exchange to use the service. Miners will be able to select which corporate exchange they wish to use based on who offers the best fees and services.
There’s no difference between the payment priority on the Retail and Corporate lanes (we operate on the net neutrality principle).


USC is build using the same underlying technology as Bitcoin including SHA256 mining, Segwit support and, in the future, full Lightning Network support.

USC will be launched as fairly as possible meaning no ICO, no pre-mine, and anyone will be able to download our software and mine coins using standard mining hardware. We will announce a specific timeline closer to launch day.

Example Use Case of 'Clean Coins': International Payments
USC can be used for everything existing currencies are used for, our USP is that we will build the necessary technology and tools to allow business and corporate customers to make international payments between different local currencies (GBP, USD, INR, etc) without having to use legacy banking solutions such as SWIFT or SEPA. This is achieved by allowing miners to specify that their newly minted coins can be used by exchanges for Corporate transactions for a set period of time before they are then released into the wider ecosystem.


The USC solution differs from other crypto currencies because corporations can have confidence that the medium of exchange is ‘clean’ and has not been acquired through nefarious means. Miners who chose to keep some of their coins in a corporate exchange will receive higher fees as the exchange will be able to charge corporate customers a service charge to facilitate the transfer. We expect competition between exchanges and we will make it as easy as possible for miners to move funds between exchanges.

We’ll be seeking a proof of concept phase with UK Banks initially once the main net is up and running.

Founder

Ross Clelland – Founder and Project Lead
https://www.linkedin.com/in/rclelland/
 

Bounties:
None at present. In future there will be bounties for pools, exchanges and explorers.

Recruitment
We are currently looking for:
•   Blockchain developers
•   Website developers
•   Product Managers with Banking/Payments Experience
Please come and speak to us in Telegram.

Progress Checklist
Stage 1
Full Node Build Complete (Testnet) - Complete
Windows Wallet Complete (Testnet) - Complete
Github Repository Configured - Complete
Website Created - Complete
Testnet Launch - 28/Feb/2018
Stage 2
Full Node Build Complete (Main) - Progressing
USC Explorer Live - Pending
USC Pool Live - Pending
Main Network Launch - Pending
Stage 3
Upgrade to full SEGWIT Address Support - Pending
Prove Lightning Network on Main Net - Pending
List on Exchanges - Pending
Finalise ‘Clean Coin’ design - Pending