TECHNICAL ASPECTS OF THE UMKA LABOR MARKET BLOCKCHAIN PLATFORM

temmyjen (41)in #umka • 6 years ago

UMKA is creating a decentralized labor market that will house trusted employers and also provide learning courses from leading universities around the world. Such a platform will prove beneficial especially in the competitive job market. Blockchain technology is going to be used by UMKA to ensure that the services offered through its platform are secure, fair and confirm to some level of standard that the job industry would appreciate. For this platform to be realized, UMKA had to work with tech that would support the processes that will be carried out through this platform daily.

TECHNICAL ASPECTS OF UMKA

Serving the labor market requires a platform that can give responses as soon as they are made. With decentralization, delays are usually experienced as a result of inability to scale effectively by Dapps or by the protocols they are built on top of. To counter these effects, UMKA is making changes to some of the tried and tested consensus mechanisms. Proof of work and Proof of stake mechanisms have been used in previous platforms before. They execute their duty as requested but a lot of time is usually wasted before an agreement is made.

UMKA is opting to use a hybrid system to counter this problem. The Dedicated proof of stake mechanism and the byzantine fault tolerance agreement are going to be used in the UMKA platform. Dedicated proof of stake (DPOS) brings a form on indirect mechanism which allows nodes to elect trusted block creators thereby reducing the time it takes for consensus to be reached in case a new node needs to be added to the blockchain. With the DPOS in place, creating forks becomes minimized while processing a large amount of transactions per second. DPOS allows platform to generate new blocks after every 3 seconds! With the Byzantine Fault Tolerance, UMKA’s platform will reach its finality in about 10 minutes which is quite impressive especially for the services UMKA is going to provide.

UMKA is based on the EOS platform which improves on the many short comings that were experienced with the Ethereum platform especially on the issues of scalability. The EOS platform allows for the development of sophisticated smart contracts that can be tailored to serve depending on the needs of the Dapp. UMKA uses a new generation of smart contracts known as Agile smart contracts or AgileSC. These are developed to offer more flexibility to smart contracts as they allow smart contracts to be divided into any number of iterations while splitting them into three parameters which affect their core functions; time, budget and work. This translates to the deadline, pay and tasks to be completed in UMKA. There are usually a number of unforeseen circumstances whenever any contract is made. The flexibility created by AgileSC allows for these circumstances to be catered for by allowing the renegotiations of smart contracts even after they have been agreed upon. The smart contracts in UMKA will be written in C++ language.
In countering the disadvantages of the POW mechanism, UMKA employs the use of witnesses instead of miners. Witnesses validate transactions and smart contracts in the UMKA platform.

CONCLUSION

The technical decisions made by UMKA are inline with the services they intend to offer. Selecting the EOS protocol provides them with better scalability which is needed in a platform that is pegged to grow over time. Its smart contract choice is inexpensive and its fast-Turing blockchain suits the smart contract Agile methodology that is going to be used by UMKA. More on the technicalities of this project can be accessed via the following link Whitepaper.

To find out more, kindly visit the links below:
Website: https://umka.city
Whitepaper: https://umka.city/wp-content/uploads/UmkaWP_Eng.pdf
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