Hello UChain Community Members!

We would like to first off start by saying thanks for all your support thus far!

From this point onwards, we will be posting a weekly report to keep our community up to date with the latest progress of how our team is getting on.

Below is our weekly project report for the 13th — 19th August.

R&D Progress

We will start with important updates right away. First, let us look at UChain’s R&D progress, and then the development of the community.

Over the past couple of months we have been hard at work developing our project that we’re all so passionate about. We’re happy to show you some progress, and let you know that we’re still on course for completion of Testnet in Q3. As the first benchmark of the UChain public chain development project, please look forward for future progress on a more regular basis from this point forward.

1- Implementation of SHA256 digest algorithm (Progress 80%)

SHA256 is an algorithm to transfer any data into a 256-bit length summary information. A very small amount of change in data can cause unpredictable complications in summary information. This whole process is irreversible. This algorithm is normally used to compare and verify data.

2- Implementation of Base58Check coding scheme (Progress 80%)

In encrypted currency, most data that customers can see are coded with Base58Check. This coding scheme can help with data compression, it is easy to read, and has error verification. When using Base58Check, coding software will automatically calculate and compare original data’s checksum with result data’s checksum. If the two checksums do not match, that means there is an error somewhere.

3- P2P communication seed nodes configuration (Progress 50%)

In P2P communication, every client must connect to a preset seed node when launched, after this has been done the client can receive other node’s information from the seed and connect to the network.

4- Trading and account information model (Progress 20%)

To support the sharing economy better, the trading system will implement Account Balance mode. All trading history will be stored onchain, resulting in, the store account’s current balance and credit rating, stock benefit information, Status information etc, to be acquired quicker.