The internet has virtually opened the doors to an all new world of computing. With the cloud based services dominating today’s computing world and with a future that promises infinite potential & growth, the impeding factors associated with the prevalent system are something that threatens to derail the steady rise.
Please Note: This is a Press Release
This is due to:
- A few large players who have developed a sense of monopoly thus rendering the services expensive.
- Security issues that continue to show up in part due to the centralised system.
- Incoherent price war- The price war that’s currently in play is set for a definite change in the near future due to imminent decrease in competition, an inevitable result due to the monopolistic approach of the current large players.
This is where Unchainet is set to usher in the change. With a Blockchain based technology that offers unparalleled security, increased efficiency and absolute reliability, Unchainet is a platform that brings together individuals, hosting providers and companies with underutilised data centres to get worldwide reach within minutes by connecting to the network.
The participants would be able to rent their available server resources to a broader audience and also earn revenue at the same time through the open internet, thus making the concept of ‘beneficial mining’ a reality for all. The existing concerns of companies about the ownership of data, security and increasing pricing would be a thing of the past with the Unchainet network.
Using the smart Blockchain technology, node reputational data can now be measured and transparently stored in the public distribution ledger. Using the revolutionary QoS (Quality of Service) chain, monitoring the quality of individual nodes in the network would offer a quality rating process that would plan to reward nodes for:
- Being consistently online without outages.
- Honest estimation of capacity/throughput.
- Honesty and integrity about business registration.
- Not adding transactions that are inconsistent with the majority of the nodes.
- Having adhoc checksums always right.
These checks would be used to frequently update the Blockchain Participant List by identifying and removing low-quality and malicious nodes and thereby ensuring high transaction speed and security.
The consensus algorithm of the Unchainet network is the ‘Proof of Beneficial Work’ (PoBW) which is a variation of the ‘Byzantine Fault Tolerance’ (BFT). The algorithm emphasises high quality nodes and even geographical distribution, which doesn’t require high computational power to check transactions.
The Unchainet blockchain would be public thereby allowing everyone to download and install the complete blockchain. Inspired by the Tendermint blockchain, hyperledger fabric and Red Belly Blockchain technologies, the Unchainet blockchain aims to create a modular blockchain technology where in the modular storage offered would be essential for modern blockchain apps, so they can be optimized for speed based on business requirements.
The internal cryptocurrency token of Unchainet, UNET can be transferred between offline wallets and web accounts quickly, securely and without cost. The PoBW and the QoS chain are expected to make the transactions free. The desktop or mobile Unchainet wallet can be easily downloaded for hassle-free UNET tokens peer-to-peer transfer.
The Unchainet Platform would offer:
- Providers with the option to install the platform on their hardware.
- Though bare-metal installation is recommended, providers may install the platform on virtual machines too.
- Clients would be provided access to the Unchainet Web console and CLI with simplified UI for launching new instances.
- Clients can utilize the platform for various use cases such as Research, AI Training, Video rendering and special web services workloads.
- Clients would also be provided with ‘Eventual availability’, ‘Guaranteed availability’ and ‘Long-term booking’.
Unchainet would also be providing ‘Service Accounts’ which are basically similar to online wallets. The Service Accounts are pivotal as they would be required to purchase computing resources from Unchainet.
The Unchainet network based on the Blockchain technology is a class apart. With optimum security, reliability, faster transactions and transparency, the Unchainet platform is not just the future of the cloud based shared services but well on its way to becoming a leader in the cloud computing space.
Media Contact
- Name: Joey Jones
- Company: https://www.unchainet.com/
- Phone: 1-512-800-0645
- Email: joey@unchainet.com
