Qicai Research Institute's low-energy public chain starts an efficient engine, and the value model detonates the market ecology

At 19:30 on the evening of August 23, Qicai Research Institute and UENC shared practical information in the Qicai Research Institute live broadcast room with the theme of "Low-energy public chain starts efficient engine, value model ignites market ecology". Host: Qicai Research Institute Ice Cream, sharing guest: UENC CMO Ethan.

The following content is provided by UENC and compiled and published by Qicai Research Institute.

Colorful Research Institute Ice Cream: Good evening everyone, I am the host of today’s live broadcast. Thank you to all the friends from Colorful Research Institute for meeting us on time. Let us welcome Ethan from UENC CMO to visit Colorful Research Institute and let us enter today’s AMA theme event.

Q1. Qicai Research Institute host Xuegao: First, please ask our guest to introduce himself and the project overview?

A1. Guest: Hello everyone, I am Ethan, the CMO of UENC public chain. Let me briefly introduce myself.

Blockchain · Leverage Bonus · High-quality Projects · Participation Qualifications

As an emerging technology of the Fourth Industrial Revolution, blockchain has great prospects and is the direction of the bonus period in the next ten years.

The birth of tokens in different tracks such as public chains, NFT, Layer2, and oracles brings huge leverage opportunities

Although the track is crowded and there are numerous projects, there are very few projects with truly high-quality innovation and technology implementation.

No matter how good a project is, if the participation qualifications are limited and the roles are limited, it is difficult to obtain real value dividends.

High-efficiency and energy-saving public chain·Four years·CPU mining·User infrastructure bonus·UENC

UENC is an energy-efficient decentralized public chain system. Through the DPOW consensus algorithm, it realizes a low-energy CPU working mode, reduces the complexity of the algorithm while ensuring security, and realizes fast, high-concurrency, and low-cost payment transactions on the chain. Currently, any available computer can participate in the network's infrastructure construction.

Development cycle: 4 years Technology landing: CPU can participate in mining

Infrastructure bonus: All users can participate in infrastructure construction and enjoy token bonus

Public chain track · Extremely crowded · UENC · Technological innovation · Breaking through the siege

As we all know, many excellent public chain infrastructures have been born, such as BTC, ETH, EOS, DOT, etc.

BTC, ETH Advantages: Relatively decentralized Disadvantages: Huge energy consumption, oligopoly effect, low efficiency

EOS, DOT Advantages: high TPS, fast speed Disadvantages: no hardware nodes, not decentralized enough

UENC innovation: DPOW directional proof of work, CPU mining, no computing power competition and more decentralized

Sharding technology, tree structure, high concurrency and high efficiency transaction infrastructure

Hybrid network structure, the more public network nodes there are, the lower the GAS fee cost

No matter how popular the project is, it has to do with you. The logic of making money in the cryptocurrency circle

There are many high-profile projects, such as Swarm, chia, etc., which seriously overdraw their value

No matter how popular or good the project is, it is necessary to have a relationship with investors before you can participate.

The logic of making money in the cryptocurrency world is to play the right role at the right time and participate in the right valuable projects

Importance of liquidity·Inflation and deflation·Opportunity cost·Long-term and short-term value

Liquidity is the core value of Token, and demand is the driving force to stimulate liquidity

UENC issuance volume is 200 million, overall deflation, 80 million are mined, and annual inflation does not exceed 15%

The DPOW algorithm without computing power competition significantly reduces the cost of physical nodes, and the pledged coins are the biggest opportunity cost

The long-term value lies in the overall demand and economic model, and the short-term value lies in liquidity opportunities.

Diversified ecology·Mining ecology·Smart contract ecology·Mutual feedback liquidity

The multi-language smart contract WASM supported by UENC allows developers to enter the development of DAPP more easily. UENC will use cross-chain technology to allow more high-energy-consuming encrypted assets to circulate quickly on the chain at a lower cost through the UENC network. At the same time, it will also make it easier for enterprises or individuals to use encrypted tokens to complete the development of DAO under smart contracts.

Liquidity brings value dividends

The mining ecosystem must provide pledge liquidity while enjoying the benefits of extremely low hardware configuration, forming a mutual feedback of liquidity with the closed-loop ecosystem of smart contracts, and ultimately stimulating the development of the entire ecosystem and the growth of token value.

Q2. Snowball, host of Qicai Research Institute: As a public chain that has been developed for four years, it has not received much attention in the market. What methods will be used to increase its popularity? How can we rekindle everyone's participation and enthusiasm for UENC?

A2. Guest: First of all, I think that a public chain that has been developed for four years and has survived both bull and bear markets is a great thing in itself, indicating that great innovations have been made on the technical level. The core reason for the popularity issue is still how many people benefit from it. The best way is to stimulate demand and allow more users to participate in the ecosystem of the economic model to gain value. At the same time, the project party will also use a matrix of multiple dimensions for publicity and promotion at the PR level, so that more investors can see the greatness of the innovation and the solid underlying foundation.

Q3. Ice Cream, host of Qicai Research Institute: Swarm, Chia’s current revenue situation is far from expectations. Compared with UENC, how can we avoid similar situations and protect the interests of participants?

A3. Guest: In fact, Swarm and Chia are both very good projects in terms of technical achievements. However, the former has problems with its technical architecture and economic model, while the latter has overdrawn too much of its initial value, which ultimately resulted in a large gap between its earnings and expectations. UENC has gone through four years, and each stage has achieved value alternation in different periods and different ecological roles, without overdrawing its value. Now that the technology has been fully implemented, rational investments can be made according to the economic model to obtain relatively stable returns.

Q4. Snowball, host of Qicai Research Institute: What are the main features of the UENC project and the background of the project? What is the core competitiveness of UENC? What advantages can make it stand out in the market competition?

A4. Guest: The main feature of UENC is the new ecological structure brought about by the innovation of the underlying technology. It was born under the background of the industry where BTC and ETH have consumed huge energy consumption and the POS algorithms such as EOS are not decentralized enough. The core competitiveness is that it solves the energy consumption problem under sufficient decentralization, and solves the concurrent bottleneck of transactions and the high GAS fee problem. From the perspective of market users, the mining threshold is lowered, and users can also participate in the public chain infrastructure to obtain dividends while providing liquidity and feeding back to each ecosystem, which has huge advantages.

Q5. Ice-cream, host of Qicai Research Institute: What problems can UENC mainly solve in the public chain track? In particular, how to solve the high congestion problem of the ETH chain?

A5. Guest: The main thing is to solve the "impossible triangle problem" and provide high-efficiency and low-cost basic public chain facilities without consuming energy. Because of the strong underlying foundation, after the smart contract is launched, it will share the asset circulation problem on high-energy-consuming chains such as ETH through cross-chain methods.

Q6. Qicai Research Institute host Xuegao: What stage is UENC at now? What are the team structure and core members of UENC?

A6. Guest: The mainnet was launched in November 2020. After various tests and algorithm optimization, it has a very strong underlying foundation. The number of nodes in the entire network has exceeded 14,000, and the smart contract has entered the testing phase. It is expected to be launched on the mainnet in the third quarter. The team has more than 50 full-time staff, 80% of whom are technical personnel. The CTO is John Sokel, the chief consultant is Dr. Jiang Zhiyu, and it has a strong operation team.

Q7. Ice Cream, host of Qicai Research Institute: What is the current number of UENC community users? What are the channels for traffic entry? What advantages will be used to attract more users to the community in the future? What are UENC's corresponding promotional measures to spread the project's popularity?

A7. Guest: UENC already had a strong community ecological foundation of 10,000 people before the mainnet was launched. After the mainnet was launched, the number of miner nodes exceeded 14,000. In the later stage, it was still through mining.

The sector allows more users to participate in the main network infrastructure and obtain the dividends brought by the pass. The spread of project awareness will be achieved through strategic cooperation with capital in the mining market, stimulating the development of the mining ecosystem through the dividends of the underlying infrastructure, and joint brand promotion with various types of media.

Q8. Qicai Research Institute host Xuegao: What is the economic model of UENC? How to drive the value of UENC to rise?

A8. Guest: The total issuance volume is in constant deflation, and part of the DPOW mining output is inflated every year to stimulate the pledge mining ecosystem. The early circulation volume and airdrops are allocated for market circulation, pledged by physical nodes, and the ecological application closed loop. The upstream mining ecosystem and the downstream application ecosystem feed back to each other, and the final value increases.

Q9. Qicai Research Institute host Xuegao: What are the application scenarios of UENC? How is the ecological construction? What plans do you have to attract more developers to participate in the ecosystem? Will you build your own decentralized exchange in the future?

A9. Guest: Currently, the mining sector has become one of the implemented ecosystems, and all qualified nodes are required to pledge an equal amount of 500 UENC.

After the launch of smart contracts, the main network will have a strong, efficient and low-cost underlying foundation, which will stimulate the outbreak of multiple sectors such as DEFI, NFT, oracle, and enterprise tokens. More developers will be attracted to participate in ecological construction by establishing a developer ecological fund.

UENC focuses on underlying infrastructure and will provide strong technical assistance to teams developing DEX on the chain, but will not develop DEX itself.

Q10. Ice Cream, host of Qicai Research Institute: How does UENC implement cross-chain technology, and what impact will it have on the entire ecosystem after implementation?

A10. Guest: After the smart contract goes online, cross-chain will be achieved through hash locking, multi-signature, rainbow bridge and other technologies. After realization, cross-chain technology will be used to allow more high-energy-consuming encrypted assets to circulate quickly on the chain at a lower cost through the UENC network, providing more liquidity for the UENC ecosystem. At the same time, it will also make it easier for encrypted tokens to complete the development of DAO under smart contracts.

Q11. Ice Cream, host of Qicai Research Institute: Which customer groups will purchase UENC and provide liquidity?

A11. Guests:

Miners UECN token is a trusted guarantee for network node pledge to participate in infrastructure mining and inflation demand

Developers and ecological users UENC is also an essential fuel when using the network, forming a closed-loop ecosystem.

Secondary market UENC brings sufficient liquidity and closed loop through the above, becoming a high-quality target

Q12. Ice Cream, host of Qicai Research Institute: What is the impact and vision of UENC on the entire blockchain industry?

A12. Guest: The infrastructure sector reduces energy consumption and pollution, and expands the number of users to participate in infrastructure construction and gain dividends. The application sector provides better, more efficient and low-cost infrastructure, allowing decentralized finance and NFT, DEX and other applications to have better explosion scenarios. The product level is based on a powerful smart contract system to bring better financial derivatives clearing and allow more real-life scenarios to interact with the blockchain world, allowing tokens to truly realize their role in promoting value.

Create a network that can be quickly integrated into any available computer in the world

Create a feasible technical solution to integrate all blockchain network assets

Create a technology application ecosystem that is easier for developers to use

Create applications that make using blockchain technology as easy as using a smartphone

The official website and public account have everything you want

Official website: www.uenc.io

Official account: UENCchain

Twitter: https://twitter.com/uencclub

Telegram: https://t.me/UENCOfficial

Github: https://github.com/uenctech

Next we will start the free question session, and the guests will randomly select questions to answer.

Q1: The so-called impossible triangle is security decentralization and efficiency. You said UENC has solved this problem. How did you do it? What measures did you take?

A1: First of all, the impossible triangle requires sufficient decentralization, sufficient efficiency, sufficient speed, and sufficient cost. UENC is currently the only public chain that can be mined with CPU, which solves the energy consumption problem and is more decentralized. The tree graph structure and random transaction network sharding technology solve the concurrency problem, and the hybrid network structure solves the gas fee problem.

Q2: Which exchange do you plan to list on next?

A2: We were also a star currency in Fcoin in 2019. Due to problems with the exchange, we suffered heavy losses. However, we persisted in user thinking and implemented the technology until today. Now we are submitting to some second-tier exchanges.

Q3: What is the minimum configuration requirement for mining? How many CPU cores does it have?

A3: 1 core is enough to be connected to the grid. Currently, all available computers in the world can participate in infrastructure construction.

Q4: Do I need to buy a mining machine? Can I mine with a home computer? Are the benefits the same?

A4: Any computer with a CPU will meet the requirements. The official website has deployment tutorials.

Q5: User experience is a very important issue in most projects. What efforts have you made, especially for new users?

A5: The original intention of the entire technical design of UENC is to enable retail investors to participate and use CPU to mine. All codes are innovative, with about 130,000 lines of C language.

Q6: What is your moat? If others copy the same model, are you confident that you will not lose market share?

A6: There must be a moat. Currently, there is only one public chain in the world that can do CPU mining, and we have already completed the sharding technology. Our sharding is different from Ethereum. Ethereum's sharding is 64-bit sharding, while our sharding is random.

Q7: The NFT market is currently booming. Will future projects develop in this direction?

A7: NFT is where we will focus our efforts. The current problem faced by NFT is that there is no strong support from smart contracts and oracles. The security issues of NFT and the circulation cost of NFT restrict the development of NFT. Infrastructure is the most important thing. I believe that our infrastructure will provide more possibilities for NFT.

Snow Ball, host of Qicai Research Institute: Thank you very much to UENC CMO: Ethan for your patient explanation tonight. I look forward to visiting Qicai Research Institute again and wish UENC a hundredfold success.

This event is co-organized by Qicai Research Institute and UENC.

With strategic support from multiple media outlets, thank you to all my colleagues for your support. See you in the next episode in the Qicai Research Institute’s live studio.