Ultrain Technology Limited is a cloud computing and smart contract platform with a programmable tech-infrastructure and multiple add-on features. Ultrain will function as an infrastructure for scalable decentralized applications (dApps), as well as provide trusted computational services to multiple sectors, such as retail, shared economy, logistics, financial services, healthcare, and media/entertainment.
The company will use a new random trusted consensus framework allowing the network to use only 1% of computing power to mint new coins, freeing up the remaining 99% to be used by applications. Ultrain will provide computing power for network management, AI, user-friendly smart contracts, high-performance trust computation, and blockchain IoT services.
This business ecosystem is comprised of multiple business organizations separated into three sectors:
- The Technology Sector: infrastructure services integrated based on public blockchain, AI, and IoT.
- The Horizontal Services Sector: organizations that provide decentralized business services, including decentralized insurance, decentralized banks, decentralized loan services, etc.
- The Vertical Application Sector: decentralized application services that can be implemented in numerous industries such as finance, retail, scientific research and development, manufacturing, logistics, entertainment, pharmaceutical biochemistry, food, real estate, education, agriculture, etc.
Consensus features of Ultrain:
- Completely decentralized architecture
- Ultra-large-scale network cluster
- Multi-terminal support
- High-performance computing
- Decentralization design
UGAS is the utility token that will be used within the Ultrain economic system. UGAS will be required to pay for the use of the computing power and third-party service components on Ultrain. Also, all participating nodes are required to mortgage UGAS. UTokens on Ultrain, similar to ERC20 tokens on Ethereum, will be issued by each dApps running on the network. dApps will choose their own consensus mechanisms and token metrics.
The project has already raised $20 million during a seed round, during which 10% of the token supply was sold. Five percent of token supply is allocated for private/public sale scheduled for Q4 2018. The overall breakdown is as follows:
- 50% Mining
- 15% Core Team
- 10% Foundation/Ecology
- 10% Private Sale (Already completed)
- 10% Consultant & Community Building
- 5% Future Private/Public Sale
The Ultrain team is impressive, bringing extensive experience from powerhouse companies such as Alibaba, Google, IBM, and Ant Financial. Their experience includes IT, finance, blockchain, business, management, computer programming, & software development.
Team members include:
- Rui Guo – Ultrain Co-founder & CEO. Former Technical Director for Alibaba Group. Former Senior Architect for IBM
- Husen Wang – Ultrain Chief Cryptologist. Former Blockchain Cryptography Expert for Ant Financial. Former Project Collaborator for Luxembourg Institute of Science and Technology (LIST)
- Yufeng Shen – Ultrain Chief Architect. Former Senior Technical Expert for Alibaba Group. Former Senior Software Engineer for Google
- Dr. Keyu Jin – Tenured Professor at the London School of Economics. Board Member for the Richemont Group. Harvard University PhD
- Luyu Yang – Co-founder of musical.ly. Former Product Management Director for eBaoTech Corporation. Co-Founder of Snowbird Consulting
Using a completely decentralized public network with lower operating costs, higher operating efficiency, and innovations in cryptography, Ultrain aims to surpass traditional public blockchain platforms in performance and scalability with up to 20,000 tps. With a stellar team and strong financial backing, Ultrain could become a major player by 2019.
- Even with an all-star team, competing with the likes of Ethereum, EOS, and NEO is no small task. -1
- Token metrics are a major aspect which ico investors consider. Based on current information available, the total market cap valuation is $200 million which is rather high in the current market. -1
- The hype factor for Ultrain, which carries weight in the current crypto market, isn’t considered high. However, it is currently growing and gaining momentum. -1
- Ultrain will release important R&D milestones and be the keynote speaker at SF Blockchain week in October to kick-start the developer community building for Ultrain. There are several products to be released: (1) Public testnet launching, (2) Permitted mainnet launching, (3) Zero knowledge proof demo, and (4) Multiple DApps demo on chain. +3
- Unitopia lab, a Blockchain research lab of the well-known Chinese video game developer Electronic Soul, announced a strategic partnership with Ultrain. Together, they will aim to establish a presence in this new market and make Blockchain video games a household product. +3
- DApps will be able to use their own consensus mechanism or choose PoW, PoS, DPoS, POA, and RPOS. +2
- Ultrain has an extensive list of investing partners including Draper Dragon, FBG Capitol, KuCoin, and Bixon. +2
While Ultrain hasn’t gotten as much attention as some hyped up ico’s, this could work out in favor of investors who see an opportunity of an excellent project that’s been flying under the radar. The team and advisors are solid, they have a partnership with Unitopia lab, and they have the backing of numerous VC firms. All things considered, Ultrain receives a 7 out of 10 rating.
- Type: Utility
- Symbol: UGAS
- Price: 1 UGAS = $0.20 USD
- Total Supply: 1,000,000,000 UGAS
- Private Sale: 10% of tokens (Completed)
- Future Private/Public Sales: 5% (Q4 2018)
For more information regarding Ultrain: