Universal Protocol: Digital Asset Alliance For Blockchain and Crypto Companies
The Universal Protocol is an alliance of virtual asset companies that are like-minded, who are also pioneers of blockchain. The main objective of the alliance is to assist decentralized ledger-technology to realize conventional adoption as a global way of transferring value through the internet.
In many ways, the protocol is a transformational advancement for the whole blockchain industry, which goes a long way in making it possible for virtual assets to be exchangeable on one ecosystem.
The UP platform is largely a coalition of main blockchain firms who have set up a worldwide transparent reserve as well as safekeeping standards. The firms include Cred, Brave, Uphold, and Berkeley.
A hub for development proxy tokens
The platform serves as hub for the development and supervision of proxy tokens as well as user features which will be instrumental in driving the mass adoption of virtual assets all over the world.
The UP platform is also beneficial in solving usability as well as familiarity challenges, which millions of users undergo even as they use virtual assets. At the moment, virtual assets exist on distinct blockchain platforms, meaning that it is not possible for them to interrelate with each other.
Consequently, this leads to considerable incompetence. This is due to the fact that distinct blockchain projects cannot collaborate in a significant way, without multifaceted and expensive workout solutions.
Until now, this has slowed down innovation in the decentralized ledger technology. This has essentially disrupted the social, fiscal and industrial sectors of the global economy. The UP platform intends to solve this impasse and permit all virtual assets to be made accessible to one ecosystem through the introduction of proxy tokens.
Proxy tokens are the virtual depiction of their underlying asset and can be in existence on other blockchains. By making use of the proxy tokens, the UP platform sets up a common universal language which permits separate blockchains and token based projects to interrelate liberally and seamlessly with one another.
In this regard, Proxy Bitcoin will be able to exist on the Ethereum platform. Over and above, the UP platform has the potential of connecting blockchain technologies. This is reminiscent of the way the breakthrough of TCP as well as IP protocols were able to drive the mass adoption of the internet all over the world.
According to the leadership of the UP Alliance, Uphold has been instrumental in playing a key role in the advancement and operations of the UP platform. In many ways, the founding principles of Uphold will be beneficial in promoting transparency and in the provision of high levels of convenience to its users, this bringing an extraordinary level of functioning mellowness to the project.
The UP platform will make public the value of its assets in custody and in real time on a public blockchain, with the reserves being subject to audits by external auditors. This will prove the fiscal dependability of the Proxy Token bionetwork. Additionally, the platform will go a long way in introducing tokenized virtual assets. This will also enable instant and seamless conversion of diverse forms of value.