UniWorld’s UniChain Ecosystem Opens New Frontiers in the Blockchain Industry
August 23, 2020, Singapore: UniChain, a highly scalable blockchain infrastructure underlying the UniWorld ecosystem is an evolution of the cryptocurrency technology capable of supporting cutting edge applications. It is a fourth-generation blockchain with enhanced transparency, security, scalability and transaction processing abilities that makes it suitable for almost all DeFi solutions – from payment processing to peer-to-peer lending.
The use of multi-side-chain feature makes UniChain a versatile blockchain protocol that can seamlessly support transactions between multiple sidechains as well as other blockchains, making it a universal bridge across the entire crypto ecosystem. It also uses an innovative combination of DPoS and Hotstuff consensus mechanisms to optimize information exchange over the network, thereby eliminating issues like network congestion and high computation power requirements that are currently plaguing other blockchain networks. As a result, UniChain is capable of handling up to a million transactions per second which are comparable, if not better than the VISA and MasterCard networks.
The high transaction processing ability combined with low transaction fees made possible by DPoS-Hotstuff consensus mechanism and multichain capabilities makes UniChain an ideal platform to build crypto payment solutions. Payments processed on such platforms are also settled immediately irrespective of geographical boundaries.
With the help of smart contracts and platform-provided development tool kits, a whole suite of DeFi products can be built on UniChain – the root chain of the entire UniWorld ecosystem. Some of the DeFi solutions that can be deployed on UniChain includes peer-to-peer lending network, decentralized crypto exchange, insurance, etc.
The UniBridge protocol connects UniChain with other blockchains, achieving cross-compatibility. It also enables the communication between sidechains and the root chain to complete the loop. In its default state, when there is an exchange of tokens between other blockchain platforms the UniBridge protocol works as a decentralized exchange.
UniChain’s peer-to-peer lending chain supported by its ready smart contract template helps developers to create and deploy decentralized P2P microlending platforms in no time. Users on such platforms will be able to securely lend their crypto funds to those in need, and borrowers get access to funds at attractive interest rates. Even lenders stand to earn good returns in the absence of middlemen, creating a win-win scenario.
The UniWorld ecosystem is much more than just financial products. With UniChain as the root blockchain, the platform offers a range of other products that are useful for businesses and individuals alike. Some of them include UniBot custom AI-based virtual assistance platform and UniMe crypto wallet hub with personal mini virtual assistant application.
UniWorld Ecosystem PTE Ltd is a new generation blockchain solutions platform based out of Singapore. It marries the most advanced, cutting edge technologies with AI and blockchain technology to create future-proof solutions catering to the needs of Society 5.0. UniWorld caters to a wide range of verticals including AI and Blockchain R&D, Finance Holding, Biotechnology and Social Responsibility.
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