Dec 28, 20194 min read

Is Ultrain The Next Generation Public Blockchain Platform? | Review

Ultrain is a next-gen public-blockchain tech and a high performance decentralized blockchain platform with a programmable tech-infrastructure. The vision for Ultrain is building a rich ecosystem of DApps each with its own token economy.

What is Ultrain?

Ultrain is the first operating blockchain ecosystem, capable of doing process level life-cycle management for smart contracts. It aims in building up a responsible and sustainable commercial ecosystem while enabling all industrial applications.

Check out the review on Ultrain By Mohd Shoaib, CEO of Digital Notice

Vision

Ultrain’s roadmap is quite simple while detailing out their upcoming plans. Its testnet and the enterprise service access network have already been developed. The public network was deployed sometime before April 2019. Implementation of AI machine learning and IoT computing networks is planned to take place from April 2019 to April 2020.

Roadmap

Roadmap Part 1

Roadmap Part 2

Roadmap Part 3

Ecosystem Of Ultrain

Ultrain provides a brand new computing service called trusted computing different from traditional cloud computing. The trusted computing model includes CPU computing, GPU computing, Memory computing, Hard disk resources, bandwidth resources, etc.

All the data based on trusted computing and operations on these data cannot be tampered with or destroyed and are transparent to all and traceable.

The overall ecosystem consists of three main parts:

The technology layer: Consisting of integrated infrastructure services based on public blockchain, AI, and IoT.
The horizontal services layer: Aggregating organizations providing various decentralized business services, including banks, insurance, loans.
The vertical application layer: Containing numerous dApps serving users across industries such as scientific research, manufacturing (such as machinery and textile), logistics, retail, finance, entertainment (intellectual property and gaming), pharmaceutical biochemistry, food, real estate, agriculture, and travel.

Ultrain’s Team

Team members of Ultrain

How Ultrain was Formed?

Rui Guo first encountered blockchain in 2012 working as Technical Director of the Alibaba Security Group. Ning Li was working as the Chief Architect of the blockchain team at Ant Financial, hit it off with Rui Guo from the moment they met. Guo and Li decided to form a team and devote themselves to the blockchain.

Guo described the feeling at the time:

“We felt the excitement of an engineer who is eager to resolve the technical challenge.”

Emma Liao, who was head of IoT investment at Qihoo 360 at the time, had the experience and expertise to drive a thriving ecosystem around the project to build user engagement to the project’s success.

Soon after the three met, Ultrain was formed.

The three entrepreneurs formed a solid and complementary structure, covering each other’s weaknesses and complementing each other’s strengths. A shared devotion to resolving blockchain’s technical issues created a simple goal to build a programmable business society.

Legitimacy

Ultrain is registered as ULTRAIN FOUNDATION LTD. in Singapore and retains a business address at 9 TEMASEK BOULEVARD, #04-02 SUNTEC TOWER TWO, SINGAPORE (038989), and the registration number 201814049E.

In addition, Ultrain has secured investment from token funds such as Draper Dragon, FBG Capital, DanHua VC, and Arrington XRP Capital, while traditional VC funds such as Morningside Capital and Ceyuan Capital also made contributions.

Technology

The whitepaper of Ultrain details the core functions while explaining how the platform will facilitate high performance trusted computing, artificial super intelligence on the chain, and blockchain-based value IoT.

On the other hand, the yellow paper details on the smart contract design of Ultrain and covers Dynamic-and-Adaptive Sharding, the Friendly Developing Environment, and Flexible Smart Contract Interaction. Ultrain’s consensus mechanism and the technical aspects of the project are also covered in detail.

The technical aspects of Ultrain encompass the following:

High-Performance Computing
Trusted Computing Creates Value
Consensus Building Mechanism for Mutual Confirmation
User-Friendly Smart Contracts
Artificial Superintelligence on the Chain
Blockchain-based Value IoT

Public Testnet

Ultrain performed really well in a public testnet as compared to other blockchain services at speed of 20000 transaction/second

Ultrain’s transaction speed compared to other blockchain networks

Ultrain Mainnet Launch

The launch of Ultrain’s mainnet marks a step forward for the world’s leading commercial public chain. It makes Ultrain the first blockchain 3.0 project to launch an operational mainnet. A milestone of such a scale represents a breakthrough, not only for Ultrain as a project but for the blockchain industry as a whole.

Ultrain Co-founder & CEO Ray Guo stated:

“Trusted computing can reshape the boundaries of trust in the business world to promote a new business model, we hope Ultrain’s trust computing service will help establish a programmable business society in the near future”

Ultrain Tokens

The token of the Ultrain ecosystem is dubbed as UGAS. The UGAS is an ERC-20 based token. Total tokens to be issued is capped for around 1 Billion with no pre-mined tokens. Private sales of 10% of Token were conducted to private Investors raising $20 million in funding. 1 UGAS was valued for around $0.20

The distribution plan for Ultrain encompasses the following:-

50% Mining
15% Core Team
10% Foundation/Ecology
10% Private Sale (Already completed)
10% Consultant & Community Building
5% Future Private/Public Sale

Potential Market Of Ultrain

Ultrain needs tackling a considerable sizeable market even though there are a significant number of projects dealing with similar issues. Commercial utilization of dApps continues to be a long march ahead. Moreover, there still needs to be serious developmental work regarding the use of both AI and IoT devices.

Ultrain’s team has identified their business targets in fields such as public utilities, transportation, manufacturing, agriculture, and finance. Although, Ultrain is specifically targeting on gaming, healthcare, and the sharing economy as prime candidates for launching and running dApps on their platform.

The team of Ultrain is aspiring for a wide appeal to offer its solution across the board.

Conclusion

Ultrain aims to be a platform for technical consensus, business consensus, learning training, and operation platform. Even though the idea of Ultrain is not entirely new although the design scheme laid out in the whitepaper looks promising. The company does need to gear up though due to tough competition from established players like EOS, Zilliqa, etc.

Ultrain overall is a good and ambitious project striving to bring blockchain 3.0. Its well-built team backed by strong private investors and good marketing strategies too to safeguard public investors money from dumping. Overall a very good project for the short term as well as long term.

For more details about Ultrain checkout:-

Website: http://ultrain.io Telegram: https://t.me/@ultrainofficialcommunity Twitter: https://twitter.com/UltrainB Linkedin: https://www.linkedin.com/company/ultrain/ Facebook: https://www.facebook.com/Ultraincommunity/ WeChat Official Account: ultrainchain Email: community@ultrain.com

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