article on the block – U.Cash (UCASH) have:
a really new token is U.Cash. Listed only a few days was able to claim the token place 21 on Coinmarketcap for himself. What is it for a token which can boast of a growth of over 1,000% within a few days?
Sometimes it is even surprising: then you think that now 30 of the Kryptowährungen almost by heart can the top and suddenly one appears out of nowhere Kryptowährung, the hitherto still unknown. A few days ago was the ECash, now U.Cash showed up at once. The latter could keep is now at least a few days in the Coinmarketcap without censorship, although the market capital through trading concluded on a small exchanges. Currently, he undergoes a consolidation though, was named as new shooting star at the Kryptohimmel of other media already.
Cynically regarded can be seen U.Cash as a prime example, why an assessment on the basis of market capital has its limits: the market capitalization of a Kryptowährung is the product of supply and last price. So if someone billions token issued and they are traded on an exchange for little money, get a high market capital quickly.
This is what happened with U.Cash: because a supply generated 21 billion tokens, you can reach an amount of 5 cents per token already a “billion”valuation. As a rough guide, you can certainly use the market capital, should always also ask, what causes a high market capitalization. That can of course be transferred to any measure: always the question is after the origin of the data to provide. That alone is however absolutely no reason to condemn a Kryptowährung or a token. We look at so take a closer U.Cash.
U.Cash – peer-to finance of peer regardless of Blockchain
If you read the abstract of U.Cash, is it somewhat underwhelmed: it dares so someone a disruption of banks and wants to put all in peer-to-peer hands! My goodness, this is so an use case to distinguishing of Bitcoin! Fairness is however to stress that a financial service network have in mind the project, which includes much more than a pure peer-to-peer payment network. The project is also honest and stressed that the idea is not new, but dates back to Securacoin a 2014 based company which wishes to promote Bitcoin adoption.
It should be not only possible to realize payments. The goal is to make the entire area that actually cover banks, decentralized legs. It’s not just peer-to-peer transactions, but a network of ATMs, standing orders and of course to debit and credit cards. In addition, is the development of multi-signature wallets and a financial messaging service planned after ISO20022 .
There was already a large part of these solutions, U.Cash want to but away from single solutions, and develop a complete package. Whether these particular solutions collection is innovative, was then made. The thrust of U.Cash is also another: the development of a new protocol layer, but a new application layout is the goal. A phenomenon in the Blockchain eco-system, which was named by various sides, is focusing on protocol development, of new Blockchains what is happening at the expense of concrete, ready-developed applications. Therefore, there are many Blockchain platforms, all with their respective cases, and many proofs-of-concept solutions.
U.Cashs approach is different: the platform sees itself as blockchain agnostic and can work with different Kryptowährungen (Fiat currency). Therefore, it is planned to create outbound linked coins on different Blockchains of the U.Cash token. It is based on the Sidechain concept of rootstock . Therefore, U.Cash would like to combine the advantages of various Blockchain technologies, so that U.Cash in own words
“smart contracts from Ethereum with security and community of Bitcoin, the anonymity of Zcash and locally, and the” Combined strengths a variety of other Blockchains.”
More particular solutions are planned to implement the benefits of centralized banking world in decentralized environments. Perhaps the wrong term is “Planned”, finally very much should be in accordance with the roadmap.
Here a is the red flags in the project U.Cash: both in the white paper as well as on the page are, hard words, winnowed the number of phrases, you miss a quiet, highly detailed representation of solutions as well as a road map with concrete data. When the respective phases will have been realised, is not to refer to the very confusing Web page. As well, no partner up on the advisors are called; It is although several times emphasized that you could rely on several partners, for example, in the retail sector, but you will find no more information; only indirectly, one can assume that the network is resorted by SecuraCoin.
IBO – airdrop meets referral program meets outsourcing
U.Cash stresses, to follow not the classic ICO funding model, but rather to encourage participation of the community. The concept of the so-called initial bounty offerings or short IBO should in a white paper called ‘ initial bounty offerings (IBOs): A framework to build Blockchain-enabled organizations “ vertiefter be explained. Unfortunately, this paper is nowhere to be found, so that one here must rely on the statements made in the white paper at U.Cash and in the announcement on Bitcointalk.
An initial bounty offering is a request to the participation of the community: for creating a user account, for help with the translation of a white papers, for participation in the referral program, for the posting of blog posts, Steemit posts or Reddit Posts, but also for those, the as a so-called converter, so financial service providers want to work on the U.Cash platform, there are free U.Cash. An initial offering of bounty is not unlike the not unusual bounty programs so, as they know many ICOs and Kryptowährungen in their early stages, and has especially the difference that one can get not just a one-off payment for a service, but for example, by registering as a converter over the entire period of IBO on the airdrops is involved. Overall an IBO is therefore a mixture of classic bounty program, airdrop, and referral program.
U.Cash – great project or just a scam?
The focus is on the application layer and the idea to create a new Blockchain or “Blockchain of Blockchains”, but on existing systems based on achieving something new is something like. It is clear in the context why William Mougayar with on board sits, but his vision of future use of Blockchain is that they will work in the background and the user does not get them to face. The team behind U.Cash is named and can be checked on LinkedIn.
As I already said the plethora of marketing talk in the white paper and on the Web page is very negative. If there are smart in addition in the Github account to the one a fairly generic contract and on the other hand only a geforktes project, one wonders what up on the white paper, an initial offering of bounty already, and by trading on a single Exchange reached Market Cap has been reached. Slightly less polemically expressed: Yes, it’s obvious that the project wants to achieve much, but lacks a certain focus. You want to solve everything that is found in the white paper, almost every buzzword of in recent months. A certain first focus would do good to the project.
Overall this is critically out of nowhere coming project, confirmed by accusations of users with regard to the difficulties in the process of the Withdrawls and suspected a scam is. Yet whoever interested in themselves for the project, as always on the Web site white paper and telegram group referred.