[Review] Universal Labs - The Future Of Personal Cloud Storage On The Blockchain
Overview
Universal Labs (ULABS) is building a new a revolutionary cloud storage platform where users get a chance to have total control of files while enjoying rock-bottom pricing tied together with personal ownership, maximum privacy and enterprise-grade security.
Their vision is to bring together the physical and the virtual world in one space for peer-to-peer transactions of all types of assets. This ecosystem will be called the Ubbey network and at its core will be ULABS’ Ownership (OWP) protocol.
But first, let’s start with the Ubbey Box.
Here’s a quick introduction to the Ubbey Box:
This slick devices looks small but packs a punch. It’s a unique combination of private cloud computing, blockchain technology and storage space and services. The Ubbey Box also functions as a full node and forms the foundation on with the Ubbey network functions. Within this network, the block creator is selected randomly from Ubbey box nodes and is based on the Proof of Storage consensus.
Apart from being fully secured and decentralized, the Ubbey box allows users to backup, store and access files no matter where they are. The Ubbey box mines YOU tokens which act as the reward or currency on the Ubbey network by sharing personal storage space. Security is a key factor on Ubbey and the network allows users to users to keep their files safe while being connected to the network via the blockchain.
The Ubbey box is available in two sizes . The 1TB version is for $199 and the 2TB version is for $245 on pre-order.
Check out this video for more info:
Now, let’s take a look at Ubbey’s Ownership Protocol (OWP)
Every aspect of Ubbey Network - from mining to using DApps to sharing and buying storage space, to smart contracts - is powered by the Ubbey’s open-source Ownership (OWP) protocol.
Ubbey is also encouraging developers and users to build their own dApps and join the network. Fees on the network, much like GAS, will be paid in “Yo” which can be purchased with YOU.
For more detailed information on Ubbey’s Ownership protocol can be found in their whitepaper here, if you’re interested: https://ulabs.tech/images/Universal-Labs-WhitePaper.pdf
Ubbey’s Development Roadmap
As you can tell, their development roadmap looks very promising. A few phases that I’m personally looking forward to are Qin where they will launch their test net for the first time followed by Han where they will launch their mainnet. The mainnet will feature the complete integration of the OWP protocol with Ubbey Box. This ensures that key elements are in place so that Ubbey Network grows into a fully decentralised and autonomous system. By Q1 2019, Ubbey will have Sui in place which will feature integration of InterPlanetary File System (IPFS) with OWP Protocol. InterPlanetary File System sounds like something out of a Star Wars film, you can find out more about it here.
To sum up, Ubbey has a great development roadmap ahead and it’ll be interesting to see how it plays out.
Token Sale Information:
The Ubbey Public sale is still ongoing and approximately 4 billion of YOU tokens will be distributed in total during private and public crowd sale on xbrick.io. This represents 40% of their total supply. 5% will be distributed to partners and advisors. 20% will be mined using the Ubbey network storage sharing, 20% will stay for the Foundation and 15% will be left for the team.
The Team
Keda Che
Founder
Keda Che is a serial entrepreneur in the blockchain industry. He founded his first blockchain start-ups Ownership Technology (Boost VC Tribe 7) back in 2015.
Sammy Mehra
Co-founder
Sammy is a software engineer with years of blockchain development experience.
Dr. Ryan Yuan
Chief Scientist
Dr Ryan is a machine learning scientist with a strong scientific background. He worked at Microsoft as a data scientist and Adobe as project lead
Final Verdict - To Invest Or Not To invest
I believe that the Ubbey Box is a game-changing product and will prove to be the differentiator between Ubbey and its competitors. Ubbey plans to redefine the cloud storage space with an actual use case and a real product - something that only a few blockchain products can claim. The team and advisors are strong and talented with tons of experience and will spearhead the development in a smooth manner. A strong focus on security combined with giving users the ability to own and share digital assets gives Ubbey an edge over traditional companies like DropBox and the likes.
I think this is a strong project and worth investing in for the long term. Do remember to do your own, thorough research before taking any investment decisions. You can find out more information in the links below. Feel free to ask the team questions on their telegram channel, they are highly responsive.
Website: https://ulabs.tech
Twitter: @ulabstechnology
Telegram: https://t.me/universallabs
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