Ultrain’s vision is to advance the realization of a programmable society, regarding the core technologies of blockchain, AI and IoT. Blockchain is considered as the transformation of the relations of production, AI can be considered as the transformation of productive forces, and IoT is considered as the transformation of the means of production. With the combination of those criteria and the traditional business, Ultrain expect to features lower operating costs, higher operating efficiency and more transparent distribution of benefits, which definitely increase social production efficiency, create more value for the real economy and make the society better.

I. Background Information

Website: https://www.ultrain.io/

Telegram: https://t.me/ultrainchain

Twitter: https://twitter.com/UltrainB

Facebook: https://www.facebook.com/Ultraincommunity/

Medium: https://medium.com/@ultrainchain

LinkedIn: https://www.linkedin.com/company/ultrain/

II. Token Metrics

Ticker: UGS

Hardcap: TBA

Total supply: 1 billion tokens

Private sale: 10% of 1 billion= 20,000,000 USD

Mining: 50%

Consultant & community building: 10%

Foundation/ Ecology: 15%

Ultrain has already raised $20 million during their seed round, from which 10% of token supply was sold.

UGas is used to purchase necessary computing power for running smart contracts on Ultrain. All smart contracts deployed on the mainchain and side chains of Ultrain can run only with UGas.

III. What is Ultrain?

Ultrain is a smart contract and cloud computing platform with several value-added features. It also aims to have very high transaction speeds of up to 20,000 tps. Ultrain will provide numerous services to businesses. These include computing power for AI, network management, high performance trust computation, user friendly smart contracts and blockchain IoT service.

IV. What does their ecology consist?

Ultrain provides a computing service called trusted computing, which is a brand-new model and definitely differs 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.

1. Why is it High performance Computing?

Ultrain has created a new consensus mechanism, which is considered to be random trusted consensus framework. This new one can under the same level of security performance as the PoW, achieve 1000-times increase in performance in a fully decentralized network, with only 1% of the computing power requirements of the traditional PoW network.

The following features of this consensus can be named:

Feature 1: completely decentralized architecture

Feature 2: ultra-large-scale network cluster

Feature 3: Multi-terminal support

Feature 4: High-performance computing

Feature 5: Decentralization design

2. Trusted Computing creates value

With the aims to free up more computing power while ensuring the blockchain security and utilize the freed computing power for computation with actual social benefit to further create for the real economy. With those destination of innovations, only 1% of the computing power of the entire network required to implement mintage when the consensus is reached each around, and remaining 99% of the computing power can be provided as trusted computing.

3. User Friendly Smart Contract

In terms of Programming language and SDK, Ultrain supports several popular high-level programming languages for developing smart contract: C/ C++. TypeScript/ JavaScript and GoLang. Based on what they wrote on their yellow paper, the high-level programming languages have more flexibility, more matured language syntax, lower learning cost and easier to write secure and audit-friendly smart contracts. Furthermore, those languages also have better support for modern programming design pattern which increase developer’s productivity.

Based on the differenced in the monetary system, each dApps can choose different consensus mechanisms, including PoW, PoS, DPoS, POA, and RPOS, or even their own consensus mechanism. Ultrain’s design is based on the Javascript language. It significantly improves the user-friendliness of smart contracts and simplifies the developer adoption process.

4. Comparision to others

This table shows the aim and ambition of Ultrain, compared to others. Ultrain’s Virtual Machine of Smart Contract (Matrix) is compatible with JavaScript environment, support event-driven assignment and improves smart contract efficiency.

V. Team

Ultrain’s founding team members originally came from Alibaba, Ant Financial, 360 Security that has global vision with well rounded diverse experiences in technology strategy, ecosystem, business and community development.

Ray Guo- Co-founder and CEO of Ultrain- he is ex-Alibaba Director of data security, previously 10 years at IBM, with deep insights about information bottlenecks for corporates.

William Li- Co-founder & CTO, with over 11 years in R&D and management experience with HPC, OS core components. He is the former main architect for Aliyun

Shen Yufeng- Chief Architect, 5+ years Google Waterlookey OS Architect as well as the killer team member.

Wang Husen- Chief Cryptologist, former the one and only crypto scientist at Alipay Blockchain team.

Emma Liao- Co-founder and CSO of Ultrain, she has operation experience from being the co-founder her own.

Beside the co-founder team, there are 9 people from the core technical team, the strategy and community team, who have experience regarding blockchain and operation. However, their detail information like LinkedIn and Github for the verification.

VI. Advisor

Jin Keyu is the youngest tenured at the London School of Economics and Political Science, a Ph.D. of Harvard University, who has experience in finance. Based on the website: “Dr. JIN is the daughter of Mr. Liqun JIN, former Deputy Minister of China’s Ministry of Finance, former Chairman of CICC (the largest investment bank in China), current and the first president of AIIB (Asian Infrastructure Investment Bank, the multilateral development bank with a mission to improve social and economic outcomes with 87 member countries)” - personally, I am not sure this information should be added on the portfolio or not. How will it help with the project?

Maybe this number of advisor is a small one, in charging of advising the whole project requires more, I believe. Let’s wait for their updates.

VII. Partners

The list of partners of Ultrain at this time is 40+, impressive number. The idea of how those partners help with the project’s progress is recommended. With this list of Partners, itis likely that Ultrain is having good and stable back running the project.

VII. Roadmap

The roadmap shows pretty in detail, this doesn’t show the beginning of the project, however. The testnet of Ultrain is expected to released by June, 2018, 2 months ago. However, it seems that till now, 12 Agu, there is no confirmation of that launch. The public network is expected to be live on April 2019, and others components within the following 12 months. Basically, the project is getting slow-schedule compared to the roadmap.

IX. Opportunities and challenges

The smart contract language is JavaScript, which is more common, however, is not considered to be advanced or high-level as they mentioned on their yellow paper. Ultrain’s hype is not much high, as establishing Telegram group 4 months ago, while the member number is around 7640+ people, announcement channel of 250+ followers. This is not a nice number for a hype project, definitely. However, due to its roadmap, this project will be a long one, so it has a long way to go. The thing should be done is to do more marketing. Ultrain’s partners and associated Media is really worth-looking. The quantity is here, but the quality to help with the whole running this is questionable. The telegram community at this time is not much active, quite understandable due to the bear market. The team in overall have experience and expertise in strategy, marketing and PR. Furthermore, there should be more information in terms of advisor, unless there is only one economic advisor at this moment.

X. Conclusion and predict

Ultrain expects to be applied for technical consensus, business consensus, learning training and operation platform, and network governance based on democratic voting, which is quite wide-range. The idea of Ultrain is not new to be honest, but the overall idea in whitepaper looks promising. However, it’s on paper only. Admin has confirmed that the testnet is ready, and will be released on October, it might be better to not joining at this time and wait for the updates. According to the admin, their fund raising is now postponed due to the bearish market. Overall, the thing Ultrain need to do now is to boost their marketing, personally.





Rate from Icogens.com:

HYPE RISK ROI TERMS ICOGENS’ SCORE LOW MEDIUM NOT RATE MEDIUM NEUTRAL

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You are reading [ICO REVIEW] What is Ultrain? Will it be a high performance decentralized blockchain platform through its programmable tech-infrastructure?

Source: icogens.com