ugChain (UGC)

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Based in China and operating in an industry known across the world ugChain base them self off a Decentralised Accounting System or DAS for short.

Our Joke Name

ugChain = Business Accounting

Basic Intro

Link to the main website

Link to price/market cap

Exchange Ticker (UGC)

Coin or Token

Circulating Supply (570 Million)

Total Supply (1 Billion)

Block time (Under 60 seconds)

Market Cap Ranking

Review

Based in China and operating in an industry known across the world ugChain base them self off a Decentralised Accounting System or DAS for short. ugChains DAS is built on the Ethereum network as part of an ERC20 token and is put to use within the gaming industry

Features

  • DAS
  • Ethereum
  • BaaS platform
  • Wording Issues

DAS

This is the central component of the ugChain and it’s built out of two different parts. The first half is the Ethereum contract which is jointed to a creation called the BaaS platform.

Ethereum

With in the Ethereum Network there are a different parts. Ethereum holds the UGC contract in which the Owners System is held. Along with the DAS exchange reserve and the UGC ERC20 Token. This is typical of most of Ethereum Tokens.

BaaS platform

The BaaS platform (Block-as-a-Service) is designed to integrate with big data and machine learning. With in the DAS component BaaS holds a number of key contracts such as the API contract and the Game Application Contract.

Wording Issues

While it ugChain is a very promising idea I was put off after reading their white paper. It was worded very poorly and some ideas where not very well explained. From what I can understand the idea is not all that unique as a number of blockchain based companies have a similar working product

Summary

ugChain works, They have a number of partnerships in china and a very large potential user base to expand to. I’ve seen ugChain listed on a number of blogs that think this will blow up and they could be right, I don’t see this happening anytime soon because of the competition and the addition it would take for any major gaming platform to utilise ugChain’s services.

Pros

  • Lots of Partnerships
  • Good idea
  • Machine learning

Cons

  • Poor whitepaper wording
  • No backing (asset, profits, commodity)