Universal Ðecentralized Asset Platform (UDAP) - Blockchain Middleware Service

Cryptocurrencies are one of the most important inventions since the inception of the web. They are ushering in a new era of decentralization, privacy, and control of one’s own data that has the potential to revolutionize many parts of society. There are currently over one thousand cryptocurrencies in use, with hundreds more being released each year. Their combined market cap has grown from $10 billion in 2016, to over $400 billion at the time of writing, having previously been much higher.

Despite the momentum and benefit of the blockchain, there are shortcomings. Almost all of the well-known first-generation blockchain systems have hard limits on the number of transactions. Bitcoin limits the maximum block size, Ethereum limits the total amount of gas in a block, as examples.

There are challenging issues with developing and running Blockchain-based applications including:

1. Scalability: Blockchains only can do that much of scalability because it needs to balance between factors of decentralized security, data liveness and finality. Using blockchain blindly as a data store and generic computing platform would not scale.
2. Cost: Blockchain transactions are expensive, many thousands times more expensive than centralized architectures.
3. Privacy: Data on public blockchains is public by definition and open to any curious eyes. Some applications may choose to keep the transactions in private unless the users choose to go to public blockchains for higher level of assurance and interoperability.
4. Responsiveness: dApps as most people have experience with are slow-paced and usually are an order of magnitude slower than the commercial Internet applications that people have been used to.

UDAP is here to provide a set of smart contract (initially based on Ethereum) templates that is configured by applications before deployment and at run-time.

UDAP is a blockchain middleware that provides Restful APIs and an 'Asset Wallet' for application developers to create powerful blockchain based applications without writing any smart contracts. It's a 'layer two' solution to non-fungible assets to simplify and accelerate blockchain application development.

UDAP is a blockchain-based asset protocol that sits between applications and public blockchains to provide Restful APIs and an "Asset Wallet" for application developers to create powerful blockchain based applications without writing any smart contracts.

In what we call a "Asset Oriented Programming" model, app developers take advantage of the traditional Internet application architecture and use UDAP as a layer of asset tokenization, transaction notarization and contract adjudication in case of dispute.

UDAP's ultimate goal is to build the Internet of Assets

Technically UDAP provides multiple modules to speed up app development, such as:

1. Token service, to manage the full life-cycle of asset-backed crypto-tokens. Applications can immediately register token-based assets on chain and offer built-in marketplace to their customers.
2. State channels service, to allow applications to conduct transactions mostly offline and secured by public blockchains, such as Ethereum.
3. Data obfuscation service, to hide the ownership of assets, using Ring Signature technology.
4. Secure content distribution for digital content assets, using Proxy Re-Encryption technology.
5. Exchange service, for decentralized asset trading, including app-currencies and asset tokens.
6. Universal wallet for versatile mobile user interface to deal with any token-backed assets that UDAP has helped to maintain.

UDAP Middleware Core Services

• Token Service

The service helps applications to quickly tokenize in-app assets, such as tickets, IP rights, certificates, and game assets. It also helps an application to create in-app currencies.

Technically UDAP provides multiple modules to speed up app development

Token service, to manage the full life-cycle of asset-backed crypto-tokens. Applications can immediately register token-based assets on chain and offer built-in marketplace to their customers.

• State Channels Service

The service implements state channel technology to help the application to properly partition their application logic between on-chain and off-chain, to achieve the best of off-chain efficiency and on-chain persistence. This is critical to minimizing the cost and providing the best possible user experience.

The idea here is to solve the problems by adopting and using state channel technology.

For example the issue of scalability can be tackled because the technology treats blockchain as the dispute adjudication platform that normally is involved in the minute-by-minute operations, but only plays its role when contracts need to be executed and very important assets need to be protected.

By leveraging state channel, transactions can run remotely off blockchain and with this arrangement cost is drastically cut down.

In addressing the concerns often raised regarding privacy, UDAP gives users the technology to control the visibility of their assets.

Finally, as it concerns the degree of responsiveness, the platform by leveraging state channels would enable blockchain supported applications to provide best possible UX in addition to a number of special features of decentralized ledgers.

It should be noted that UDAP does not in any way represent a generic State Channel framework. It is rather an implementation of State Channels that are guided to the applications that deal with non-fungible assets.

Core Concepts of UDAP

• NO.1 Protocol - Singular

Singular is a new asset account model, it defines how a thing is tokenized and how it deals with ownerships and trading in a decentralized way. The Singular asset model implements a concept: One thing = One smart contract

The Singular project is a natural development in the spirit of some of the earlier blockchain proponents who had envisioned what blockchain with smart contracts would achieve.

• NO.2 Middleware - UDAP

The fundamental concept of the Internet of Asset Protocol is to build a "Thick Protocol + Thin Application".

Application developers only need to have sufficient knowledge and understand their business logic and user experience, Therefore, the application is thinner and easier. A thick protocol based on UDAP middleware helps them to accelerate the blockchain development, to secure the transactions, and to reduce the development costs.

• NO.3 Asset Wallet

Harvest Wallet is an Asset Wallet that supports ERC20, ERC721, and Singular types tokens. It provides individual users with great convenience and a unified interface to tokenize, manage and publish their own tokens, various fungible and non-fungible assets, and third-party applications can plug-in the wallet too.

Mint, manage and publish tokens

Support third-party apps that generate wide range of assets.

It provides a programmable UI for third-party applications to develop a complete user experience

• NO.4 Applications

UMedia is a marketplace for collectible music and other forms of digital media assets on your mobile phone, it included some complicated blockchain programming modules like all different token services, marketplace, Proxy Re-Encryption, State Channel, Singular. UMedia is to demonstrate the technical capabilities of UDAP. It’s so easy to make a Dapp by UDAP. Developers can use UDAP’s middleware to transfer their normal business into token-based business just like UMedia does.

More different Dapp coming powered by UDAP, such as Ticketing, Social, Education, Gaming, Health, Supply Chain Finance, Data Center, Technical Community, Travel, E-Commerce, Library and so on.

Why choose UDAP?

• State channels would enable blockchain supported applications to offer best possible UX together with unique features of decentralized ledgers.
• State channel technology treat blockchains as the dispute adjudication layer, or court system that usually is not involved in the minute-by-minute operations, but only plays its role when contracts need to be enforced and critical assets need to be secured.
• UDAP provides technology to let users control the visibility of their assets.
• State channel allows transactions to run locally off blockchains, thus carries a cost model comparable to traditional Internet applications.

UDAP Token

UDAP Foundation issues the UDAP token (also known as UPX token). UPX tokens are used to make deposits required to become a UDAP service consumer. Transaction fees, gas payments (i.e. smart contract execution fees) and persistent storage payments are also usually collected in UPX tokens.

UPX tokens are implemented using the Ethereum ERC20 standard. The Total Supply is 10,000,000,000.UPX tokens can be acquired in the following ways: Token Distribution Event (TDE) Purchase of UPX tokens from secondary markets, such as cryptocurrency or token exchanges Airdrop (this method is intended as a means of popularizing the UDAP).

Token Details

• Token - UPX
• Platform - Ethereum
• Type - ERC20
• Pre-ICO price 1 UPX = 0.0164 USD
• Price in ICO - 0.0083 USD
• Tokens for sale - 4,000,000,000
• Distributed in ICO - 40%

Distribution of Tokens

Road Map

Team

For more information, please visit:

Website: https://www.udap.io/
Whitepaper: https://www.udap.io/whitepapers/UDAP-Whitepaper-English-v08.pdf
ANN Thread: https://bitcointalk.org/index.php?topic=5069084
Telegram: https://t.me/udapcommunity
Twitter: https://twitter.com/udapfoundation
Facebook: https://www.facebook.com/udapfoundation
Bounty: https://bitcointalk.org/index.php?topic=5071808.0
Medium: https://medium.com/udap
Github: https://github.com/udap
Linkedin: https://www.linkedin.com/company/udap/
Youtube: https://www.youtube.com/channel/UCDl000RbiE5ywU7x2igWWQg?view_as=sub
Reddit: https://www.reddit.com/user/UDAP_Foundation

Author: JigaMola
Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1847143