Friday, April 19, 2024
HomeTechnologyUFC Becomes The First Blockchain Protocol to Utilize UPOS Calculations

UFC Becomes The First Blockchain Protocol to Utilize UPOS Calculations


Silicon Valley, California: The promise of Cryptocurrency is to make money and payments generally accessible to anyone no matter where they are in the world.The Decentralized Finance (DeFi) or Open Finance movement takes that promise a step further. DeFi refers to the movement that leverages decentralized networks to transform old, traditional, centralized financial systems to peer-to-peer finance enabled by decentralized technologies built on the Ethereum blockchain.

DeFi has grown into one of the most active sectors of blockchain, between September 2017 and the time of writing, the total value locked up in DeFi smart contracts has exploded from US$2.1 million to over US $8 billion. Since the beginning of August alone, it has risen by US$2.9 billion. 

From decentralized exchanges to DOAs to lending and insurance platforms, the DeFi ecosystem is flourishing and unlocking a parallel financial system that is setting new standards for access, resilience, and transparency. One of such projects is the UFC Chain. UFC, also known as the Union Fair Coin, is the world’s first applicable Cross Chain Project. Because the prosperous DeFi ecosystem is built within the Ethereum system, it is difficult for other mainstream cryptocurrencies to directly participate in the DeFi ecosystem. However, UFC Chain cross-chain technology has solved this isolation problem.

UFC is the first blockchain protocol that utilizes UPOS calculations. By using the innovative UPOS (Union Proof of Stake) decentralized consensus algorithm is adopted using a simple purchase model plus a flexible smart contract to complete cross chain asset transfer without the need to invade existing blockchain. This makes it easier to calculate blocks more effectively. On top of that, UFC Chain is able to achieve various on chain asset transfers with multiple functions. The monopoly of the miners, and the high cost of mining machines forces retail participants out of the game. With that said, UFC chain’s team is committed to lowering the mining threshold, helping more users to participate in mining and obtaining mining revenue.

UFC Chain extradites assets on various chains to own blockchain through cross-chain technology in order to facilitate transactions. The cross-chain function has the following benefit: Solve the transaction congestion problem of mainstream digital assets; solved the problem of non-mainstream digital asset circulation; Addresses the need for direct rigid exchange of multiple assets; solved the problem of large price fluctuations in block transactions.

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