Topic: [UDC] Unified Digital Currency - A Digital Currency for Unifying Global Commerce (Read 3172 times)

We've published the complete specification of the Network's data structures used in UDC.
Regarding the monetary information, it details the Ledger and supported transaction types.
Also includes the Network Management Blockchain, both blocks and supported entry types.

Couple of updates since my last post:
The bulk of our Validating Node's prototype version has been uploaded to UDC's github repository, and the rest will follow soon.

Meanwhile we've also started building our wiki, available directly in our website at https://udc.world/wiki.
We've published so far UDC 's network communications protocol, although descriptions for each message will be added ulteriorly.

We've recently launched our Indiegogo crowdfunding campaign and are offering early and exclusive access to certain perks. So that backers can reserve and join early on, without any hassle or going through public contests (i.e. Slots attribution, DAO or DAS integration), which will occur upon UDC launch.
The funds gathered will go towards building UDC infrastructure (i.e. server & other hardware, mainly for the PKI, which is obviously too sensitive to be migrated to the cloud), network resources for the next couple of months and software development. In exchange, we're offering different types of rewards:

• Personal accounts from any normal or Premium Slot, while those from official Slots are conditioned to the rewards below. Since they're permanently linked to a key pair, they're essentially lifetime, therefore attributed in a first come first serve manner.
• Slots, enabling those interested in becoming Managing Entities to select their own without competition and start developing their services and user base in preparation for UDC launch. Currently, 1 and 5 year leases are available but, as you may know, the Slots attributions work similarly to domain names and can therefore be indefinitely renewed.
• DAO and DAS smart contracts modules, although each limited to 10 projects. Basically, this enables anyone with a project or idea for a DAO or DAS (Distributed Automatic Service), to be integrated into UDC, to propose it and have us build it. All the while, retaining complete ownership over the developed software, including the fees generated by them.

As communicated through our website, we're currently testing the first version of our Validating Node.
And later this month (or beginning of April) we'll try to launch a live preview of UDC, accessible via our website also.

In the meantime, we'll start publishing the network specifications, communication protocols and smart contracts (DAO and DAS) development guidelines.
And keep uploading the Validating Node source code during the next weeks (only a couple of basic files were sent because of the current tests, so disregard it for now).

finally changed rank!
The images are now visible in the first post!

Hmm guess i missed your response, i kept checking "show new replies to your posts" these last days but nothing appeared.

Anyway, i wasn't speaking about stock but rather private equity. Also the problem you present is US-centric and wouldn't be a problem by the time we officially incorporated into the US, specially if dealing with an accredited investor which doesn't require SEC verification.
In Europe (not only within the EU) things are a bit easier when trading parts/shares/equity of a private company or expanding its capital (again, i wasn't talking about turning it into a publicly traded company), since it doesn't involve the countries' SEC equivalents.

Well no, you're mixing ICOs with traditional investments.
When i'm stating "investments and partnerships for UDC's general development", i do mean capital investments into UDC WorldBank's company (as "in exchange for real shares") for developing its infrastructure and software, and actual partnerships with other companies to implement and provide new services either together or through them (en example would be Blockchain startup Fluent partnering up with an Allianz subsidiary, Euler Hermes).
There's no coin offering involved in any of those events.

This doesn't mean other cryptocurrencies don't use their ICOs for the same reasons, but not in this case since the funds associated to sales of UDC would only go to the reserves, there wouldn't be any resources for its development anyway.
And while coin offerings from altcoins and other fixed supply/pre-mined cryptocurrencies do have a big impact since the founders and initial investors want most likely to dump their stake to make a profit, it doesn't happen with UDC since it's value is linked to a fixed exchange rate policy with a reserve currency standard (well, actually a basket with the 10 pegged fiat currencies).

If you want to know more, the link i posted last time explains a bit this part regarding UDC's value.
I'll post soon a similar news, but this time dealing with the differences with other cryptocurrencies instead of the fiat ones.

Seems to be dev is very actively responding with his future thought about UDC, i hope this coin should stay long. I will keep an eye on this definitely.

I've published a long overdue post exposing the main differences between Unified Digital Currency and fiat currencies.

It's available directly at UDC's website: https://www.udc.world/news/differences-fiat-currencies/

Still only the dev talking to himself. This thread is a joke.

Thanks to syahril for the German translation: https://bitcointalksearch.org/topic/udc-unified-digital-wahrung-eine-digitale-wahrung-fur-die-vereinheitlichung-1672180 !

Well, all transactions (and any other piece of data like Ledgers/NMB Blocks/NMB Entries) are confirmed by the Validating Nodes (= network's workers) using the network's consensus mechanisms and protocols.
Meaning everything published by it has been agreed upon by all parties.


Now, i mentioned (in the main post) there are no block rewards or the habitual redistribution of the transaction fees, but there are other incentives.

• The Managing Entities (set and ) receive all fees of the normal transactions related to the accounts of the Slots they manage. In exchange, they have to run a Validating Node, and therefore help grow the network.
• The DAS (~= automatic event-based transactions) and DAO (~= complex smart contracts, think of them as a generalized Ethereum's The DAO) modules generate their own service fees. Those fees go to their respective creators/developers/investors, however a fixed percentage is extracted from those fees as compensation for the network resources they "used". That compensation (identified as the network fees) is then periodically distributed among all Validating Nodes (who can be run by anyone), divided into equal shares.

Therefore, we have two types of rewards:
1. for those who create and provide services on top of the network
2. for those who contribute resources to the network by providing Validating Nodes
And, unlike Bitcoin for example, where the "winner-takes-all" (block rewards + fees), with UDC, everyone is compensated fairly for their contribution.


As I stated before in UDC's details, its main goal is to become the de facto global exchange medium.
And by this, i don't mean it'll replace Bitcoin/Ethereum/... in the sense of they'll cease to exist, but rather overtake them in terms of market share.
This, of course, is the long-term goal as a mature digital currency.

As to why it can possibly achieve that goal, lies in its differences:
• its value, being pegged to a basket of currencies, is much more stable and "predictable", which is more attractive to the average person. Especially when the value is constantly backed by real reserves and exchangeable at all times.
• the processing and confirmation of transactions is faster (couple of seconds) than other cryptocurrencies and comparable to certain block durations of Ethereum. Except they don't require additional confirmations as they do, being published is indication enough that the transaction was accepted by the network. This opens up applications that require near real-time validation, and so can be used at the local level (PoS, payment terminals, ATMs with faster deposits/withdrawals,...).
• the Managing Entity system, with the management of Slots (groups of 1 million accounts) and independent definition of fees, also brings other possibilities. Companies can become their own payment provider to receive payments without intermediaries and with lower or no fees.
• the relatively simpler accounts system, abstraction of the network (individuals don't have to be running nodes or synchronize with the network, much like the lightweight wallets like Electrum) and possible features will ease its use and IMO further increase its adoption by the average person.

(the Envisioned Ecosystem chapter of the whitepaper gives an overview of what is possible/coveted)

Sounds interesting. Will bookmark and keep an eye on this.

No mining and pos ? So how does it work ? Why would we buy this coin ? What is my incentive to participate in the development of this coin ?
What is the goal you see for your coin in the future ?

Finally. I was waiting to see someone else with the same mentality as the one I hold regarding this shitcoin. I was starting to think that this whole thread is the dev talking to himself with different forum accounts and I still think that but at least when I see you and your post OI know that there is at least one real fellow in here.

no interest .pass the shit

any bounty campaign sir
like facebook campaign, twitter campaign, signature campaign etc???

Well there's no point in making an ICO, at least in the sense of what the other crypcurrencies do, since everything would go to the reserves.
I've been using Twitter, Facebook and Reddit, although the traction is still low.
I'm also looking in other forums and news websites though.

How about  UDC - ICO ?
and i think UDC need promotion via media social , so UDC need campaign

I made this estimation back in October:

Currency Denomination	Per 1 UDC	1 Per UDC
United States Dollar	1 Uni = 0,2912 USD	1 USD = 3,4345 Uni
Euro	1 Uni = 0,259 EUR	1 EUR = 3,8606 Uni
Japanese Yen	1 Uni = 29,5054 JPY	1 JPY = 0,0339 Uni
Pound Sterling	1 Uni = 0,2245 GBP	1 GBP = 4,4552 Uni
Swiss Franc	1 Uni = 0,2828 CHF	1 CHF = 3,5360 Uni
Australian Dollar	1 Uni = 0,3802 AUD	1 AUD = 2,6301 Uni
Hong Kong Dollar	1 Uni = 2,2584 HKD	1 HKD = 0,4428 Uni
Canadian Dollar	1 Uni = 0,3823 CAD	1 CAD = 2,6156 Uni
Singapore Dollar	1 Uni = 0,3969 SGD	1 SGD = 2,5194 Uni
Chinese Yuan Renminbi	1 Uni = 1,9426 CNY	1 CNY = 0,5148 Uni

The data on based on the rates for 1st October, obtained from XE.com

what are the estimated price per Unified ?