uPlexa: A basic introduction and its functionality
The ideology behind the uPlexa platform is very unique and interesting as it brings about the incentivizing of computing data from our daily household devices called the Internet of Things devices that enables anonymous blockchain payments. The platform depends a lot on these Internet of Things to allow for anonymity as well as an ecommerce functionality through the peer-to-peer based payments.
uPlexa at the centre of Internet of Things
It's very similar to the Bitcoin, as it's a p2p electronic payment system that places more focus on anonymity as well as an incentive IoT transaction mining.
The uPlexa Explained
The uPlexa platform delivers a very high degree of security to its anonymous payments with the use of a modified CryptoNight algorithm. With this, its able to provide a very decent amount of the uPlexa that will be utilized to pay for electricity being used by any of the IoT devices for its mining. These IoT devices aren't limited to our smart devices such as the Smart TV, Smart cars, Smart Fridges, or any other household appliance that can be connected to the internet. Mining for uPlexa on these devices requires a software that uses a very small amount of RAM or CPU without affecting its general function.
For its anonymous and secured payments, its makes use of a model called the Near Zero Congested Model. This model prevents the occurence of congested networks as well as the usage of very minimal transaction fees. This allows for transactions within the uPlexa API rather than the actual blockchain and it can be used for anonymous payments for the ecommerce, the internet and telecom providers.
This is very necessary especially to the service providers as users can anonymously pay for their services with no fear of data theft by spy programs or hackers.
Features of the uPlexa
The uPlexa is a very secure system for a lot of peer-to-peer transactions, and it places a very big focus on making IoT mining very profitable. This will basically make uPlexa a very integral part of our system as it allows us to make use of our IoT devices to purchase products and services.
With its modified CryptoNight algorithm, it will ensure anonymity and privacy of users transactions as it functions both on-again and off-again.
Its current model, that is the Near-Zero Congestion Model of uPlexa will enable very swift and quick transactions, while avoiding network congestion. It has a very basic and light blockchain as well as a block time of 2 mins.
It also has it's very own ecommerce platform that will be used by both webmasters, developers, designers and their client. This ecommerce portal will allow for the secure, anonymous, and swift transactions as well as have support for uPlexa and numerous cryptocurrencies and fiat money.
uPlexa Tokens
This is a special token with the ticker UPX based on the uPlexa blockchain and it's being used for most of the peer-to-peer payment done on the uPlexa platform. This token can be gotten through mining with the IoT devices, from sales of products and services on the platform, from various bounties organized by the uPlexa team.
Conclusion
The uPlexa platform allows for a p2p based payment system based on the Internet of Things. It also features a very unique blockchain system that ensure swift payments as well as anonymity. It allows for the mining of the uPlexa tokens with the use of IoT devices and hopefully, it will expand its ecommerce portal to encompass most of our various needs and services.
RELEVANT LINKS
Author - hamzeto
Bitcointalk LINK - https://bitcointalk.org/index.php?action=profile;u=1189991