What is UBIX.Network?
UBIX.Network is an open ecosystem designed to integrate decentralized applications into a cohesive whole. To solve the integration problem, the following solutions were used:
● The original decentralized protocol UBIX ((DAG), consisting of blockchains of various types) has been developed and is used to exchange sensitive data (master data) between applications.
● The Ubikiri super application interface built on microservices is used to exchange data between applications through the internal API.
● A legal solution that allows users to legally determine the legal relationship arising between users and node holders. The legal framework is based on the original UBIX license designed for decentralized applications.
For the development of applications, the UBIX launchpad platform is used, which is integrated into the UBIKIRI interface. A special approach called fair-ICO (fICO) is used to finance internal projects. The first internal fICO project was the internal UBIX.Exchange.
For the exchange of values within the platform, the native UBX cryptocurrency has been released. To regulate the money supply, monetary approaches are used with the use of public reserve and emission funds. In addition to UBX, tokens issued by various projects are used. For economic integration with external ecosystems (primarily with Ethereum), Crypto depository receipts are widely used both for UBX and for tokens issued on the platform.
Technology
To implement the possibility of creating integrated blockchains, the following approach was used:
● Users can create their own blockchains (in terms of the Platform - Consiliums).
● Each transaction has a special label that defines which Consilium can process it.
● When the conditions defined by the Consilium Rules appear, Consilium is activated and the transactions accumulated in the mempool related to this Consilium are processed.
● The block created by Consilium goes to the general distributed ledger, where the blocks are connected to each other in a Merkle tree, forming a directed acyclic graph (DAG).
Their innovative protocol allows developers to create their own blockchains, fully integrated into a single network without any intermediaries (gateways, beacon chains, etc.);
This allows them to integrate applications with each other at the basic level of the network. But beyond that, they are building a common universal interface that integrates applications into a single super-application, which allows end-users to seamlessly use all available services.
They also pay special attention to the economic model of their ecosystem, based on the concept of economically self-sufficient applications that generate regular income for our community.
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About UBIX.Network
UBIX.Network is a DAG/blockchain hybrid designed to integrate blockchains of various types of consensus into a single p2p network. Users can create their own blockchains of various types (including private ones), using them to service their business processes. To learn more about UBIX.Network, please visit their website, follow their Twitter and join their Telegram.
