Ultrain (Ultrain) Review
ICO date: November 09, 2018 - February 09, 2019
Industry: commercial ecosystem
Description
“Decentralized engine for the future” – that’s the ambitious and catchy slogan that sums up the essence of Ultrain, a public-blockchain platform. Ultrain is a full stack decentralized technology and business ecosystem, based on random proof of stake algorithm with added sharding, device ID and optimal crypto algorithms. The efficiency of the net is maximized thanks to a truly decentralized feature and an exceptionally high level of security. The core functionality of Ultrain is a computing service called trusted computing – an innovative service model based on blockchain technology. Incorporating breakthrough advancements in cryptography, Ultrain is characterized by a completely decentralized architecture, Ultra-large-scale network cluster, multi-terminal support and high-performance execution. The vision of the projects’ founders is to free more computing power to create social value for real economy at the same time making sure its blockchain is secure and properly supported.
UGAS is a token that is used to buy processing power necessary for running smart contracts on Ultrain. Similar to the “Gas” of Ethereum, UGAS is a charging and settlement tool for Ultrain. Within the Ultrain ecosystem there are several participant roles which include: the miner, Ultrain development and operation team, DApp developer, DApp user and tokenholders. At the moment the Ultrain community consists of 15 hubs located all over the world, and their number is sure to grow.
The project has a well grounded White paper and an extended list of business partners, including Taihe Maitian, UC Express, Shanghai Mixmarvel Technology, which adds to its credibility.
Features
Benefits:
- Completely decentralized architecture
- Ultra-large-scale network cluster
- Multi-terminal support
- High-performance computing
- Decentralization design
- Several well-known VC funds as investors
- A working testnet
- The language of smart contracts is JavaScript.
- The project raised US$20M in a private sale, having sold 10% of tokens.
- The team proposed a new R-POS consensus, that should ensure the decentralization.
- The team is strong and contains with Alibaba veterans, that is a good sign that they will manage to complete the project.
- Ultrain already has 15 international community hubs such as New York, Silicon Valley, and Munich, that will help to conquer the market.
Founded: 2018, China
Social networks
Conversion Block
- Token - UGAS
- Price 1 UGAS = 0.2 USD
- Platform - Ethereum
- Accepting - BTC, ETH
- Country - China
- Whitelist/KYC - KYC & Whitelist
- Restricted areas - USA, China
Technical details
- Token symbol UGS
- Type of token: utility
- Network Ethereum, ERC-20
- Hard cap $20 million for private sale
- Price $0,2
- Total Cap Size 1,000,000,000 UGS
- Team 5 core members/ 22 tech and marketing team/ 2 advisers
- Total Token Offered 10% of total supply for Private Sale.
- ICO Token Price: 1 UGAS = 0.20 USD
- Fundraising Goal: 20,700,000 USD
- Total Tokens: 1,000,000,000
- Available for Token Sale: 20%
Milestones
- Jun, 2018, Nova: Internal Testnet Online; External API Framework Completed; Smart Contract Development; Framework – Robin Online.
- Sep, 2018. SuperNova: Public Testnet In Operation; Enterprise Service Access Network Online.
- Jan, 2019. Black Hole: Blockchain OS Core Structure Completed; Network Management Based on Democratic Voting System.
- Apr, 2019. White Hole: Public Network Operational; Sharding; Sales of Mining Rigs.
- Apr, 2020. Big Bang: Ultrain‘s Eco system in Operation; AI Machine Learning Platform Online; IOT Edge Computing Established.
Team
Executive team
- Ray Guo, the Co-founder and CEO, former Director of Alibaba Security Unit in charge of data security strategy and previously 10 years at IBM GBS team. Our expert team wasn’t able to confirm Alibaba and IBM connections of the CEO, but we assume IBM info is not available due to the time passed since 2013 and Alibaba records might be not available in English. LinkedIn profile
- Emma Liao, co-founder and CSO, former Managing Director of Golden Brick Capital, head of IOT investment of QIHU360 and head of China at leading European investment bank goetzpartners GmbH. LinkedIn profile
- Ning Li, Co-founder and CTO, the former Technical Director and Chief Architect of Ant Financial Blockchain team. LinkedIn profile
- Yufeng Shen – Chief Architect, former core architect of Google3 Canada ChromeOS, the former senior technical expert of AliOS.LinkedIn profile
- Husen Wang – Chief Cryptologist, former crypto scientist at Alipay Blockchain team. LinkedIn profile
Advisors
- Keyu Jin is a tenured professor at the LSE with a Ph.D. of Harvard University. She is a very strong expert in finance. She is also a daughter of 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), which might be a hand for searching partnerships inside China.
Start: 9 November, 2018
End: 9 February, 2019
Ultrain Reviews
The project has some current vulnerabilities, being dependent upon favorable business, financial, and economic conditions to meet commitments on its deliverables. In the event of adverse business, financial, or economic conditions, the team is not likely to have the capacity to meet its commitments on the project.
Hi, I checked several ICO rating sites and Ultrain has Stable or Stable+ scores mostly. What's your view on investment potential of UGS token?
Add/Read ReviewsHas anyone installed the official new Ultrain App, they launched on the 1st of January? Need some feedback if it really allows to import wallets on the Ultrain's testnet. I am really afraid to lose wallet access, so if anyone has tried doing that, please drop me a line if it works fine.
https://ultrain.io/
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