What is U.Cash?
U.Cash (UCASH) is a novel, token-based blockchain that emphasizes availability of financial services to users worldwide. They aim to do this by creating bridges between local fiat cash and digital currencies by using a network of intermediaries. Through their adaptive conversion algorithms, U.Cash strives to act as a truly global service, compliant with Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements. U.Cash blockchain technology allows for the trustless exchange of cryptocurrencies through its own network, providing users with the option of avoiding third party exchange services. By offering loan and advertising services in addition to its core features, U.Cash hopes to create a thriving digital-based economy by connecting users, merchants, and vendors through its network.
History of U.Cash
Founded in Canada, the idea behind U.Cash started out as a payment processing service that offered the secure, legal conversion of digital monies into fiat currency. The U.Cash project was announced to the public in November 2017 by a large, diverse, and public development team, under the guidance of an equally well-staffed team of advisors. After a round of institutional fund raising and early adopter giveaways, tokens were released through a “Initial Bounty Offering” (IBO) program in which contributors to various aspects of the system were rewarded with U.Cash tokens. The U.Cash team boasts a combined industry experience of several dozen years, consisting of blockchain developers, computer scientists, security experts and systems engineers. Previous projects members of the U.Cash team have been involved with include Ethereum, Skyscript and the Blockchain Association of Canada.
The U.Cash project began as a mission to provide financial services on a global scale and has since attracted several investors and partnerships, obtaining billion-dollar market cap status by early February 2018. U.Cash holds the distinction of being the fastest-rising cryptocurrency to ever hit the market. It rose from a price of less than half a penny on February 9th to an astounding $0.23 a token on February 11th, representing a gain of over 50-fold in the span of less than 48 hours.
How U.Cash Works
U.Cash runs on its own, unique blockchain, which is described by its developers of being a hybrid of the best features of bitcoin, Ethereum and Zcash. Its tokens are ERC-20 compliant, meaning they are fully interactable with the Ethereum blockchain and uses the same token development standards. U.Cash is cross-blockchain talk-enabled, meaning its blockchain can interact with mirror tokens representing U.Cash on bitcoin (Counterparty), Ethereum and Waves platforms. Although U.Cash currently only supports conversions using these 3 platforms, development for communication with other blockchains is currently underway, and the system already supports the conversion of every major fiat currency across the globe. In addition to providing a built-in exchange, multi-signature wallets and smart contracts, U.Chain also offers decentralized backing up of wallet data and other account information.
- revolutionary blockchain design: allows for conversion with all major fiat currencies and several major cryptocurrencies
- ERC-20 compliant token: ready for integration with Ethereum
- solid development and support team: attentive, dedicated staff to support a burgeoning global community