Nework NKC to Ultra UOS Exchange

Crypto Pair Details: NKC to UOS

Nework NKC

The bitcoin network is a peer-to-peer payment network that operates on a cryptographic protocol. Users send and receive bitcoins, the units of currency, by broadcasting digitally signed messages to the network using bitcoin cryptocurrency wallet software. Transactions are recorded into a distributed, replicated public database known as the blockchain, with consensus achieved by a proof-of-work system called mining. Satoshi Nakamoto, the designer of bitcoin claimed that design and coding of bitcoin began in 2007. The project was released in 2009 as open source software. The network requires the minimal structure to share transactions. An ad hoc decentralized network of volunteers is sufficient. Messages are broadcast on a best effort basis, and nodes can leave and rejoin the network at will. Upon reconnection, a node downloads and verifies new blocks from other nodes to complete its local copy of the blockchain. A bitcoin is defined by a sequence of digitally signed transactions that began with the bitcoin's creation, as a block reward. The owner of a bitcoin transfers it by digitally signing it over to the next owner using a bitcoin transaction, much like endorsing a traditional bank check. A payee can examine each previous transaction to verify the chain of ownership. Unlike traditional check endorsements, bitcoin transactions are irreversible, which eliminates the risk of chargeback fraud. Although it is possible to handle bitcoins individually, it would be unwieldy to require a separate transaction for every bitcoin in a transaction. Transactions are therefore allowed to contain multiple inputs and outputs, allowing bitcoins to be split and combined. Common transactions will have either a single input from a larger previous transaction or multiple inputs combining smaller amounts, and one or two outputs: one for the payment, and one returning the change, if any, to the sender. Any difference between the total input and output amounts of a transaction goes to miners as a transaction fee. In 2013, Mark Gimein estimated electricity consumption to be about 40.9 megawatts (982 megawatt-hours a day). In 2014, Hass McCook estimated 80.7 megawatts (80,666 kW). As of 2015, The Economist estimated that even if all miners used modern facilities, the combined electricity consumption would be 166.7 megawatts (1.46 terawatt-hours per year). To lower the costs, bitcoin miners have set up in places like Iceland where geothermal energy is cheap and cooling Arctic air is free. Chinese bitcoin miners are known to use hydroelectric power in Tibet to reduce electricity costs. Various potential attacks on the bitcoin network and its use as a payment system, real or theoretical, have been considered. The bitcoin protocol includes several features that protect it against some of those attacks, such as unauthorized spending, double spending, forging bitcoins, and tampering with the blockchain. Other attacks, such as theft of private keys, require due care by users.

Ultra UOS

Ultra is a protocol and platform positioned to disrupt the $140bn USD gaming industry using blockchain technology to allow anyone to build and operate their own game distribution platform or virtual goods trading service. In doing so, it challenges the current monopoly held by industry heavyweights Steam, Google, and Apple. This will unlock new opportunities and create value for all the actors involved. Large commercial partnerships are signed, the protocol and platform have been built and will be launched in open beta in October 2019. UOS is the Token that powers the Ultra Ecosystem and can be used to purchase everything on the platform, including games, virtual items and ads for game developers. Ultra will accept traditional forms of payment such as Paypal and credit cards as well. These fiat currency transactions are converted to UOS seamlessly on the backend and are completed on the blockchain with UOS tokens. The token will also be used across the platform in many non-transactional ways including betting, tournaments, and donations. TIMELOCK: 10 to 20% of every transaction will be kept in a smart contract for 60 days. In addition, 5% of Ultra profits will be reserved for 2 years to fund exclusive games that use its blockchain and NFTs capabilities. ENGAGEMENT: Tokens are earned by performing specific actions such as; helping developers to build better games; watching ads; beta testing; answering surveys, and more. STACKING: Players can get rewarded with free games, swag and exclusive content just by holding tokens. SPENDABILITY: Users can buy and sell games/items for UOS, and in hundreds of shops through partners.

SOURCE: COINGECKO

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