Blockchain lexicon, becoming unbreakable in society
A few years ago, the Internet was a great revolution. It's hard to live without it today. However, most of us do not know precisely how it works technically. Beyond the Internet, everything around us: television, smartphones, household appliances have a considerable number of chips and complex electronic systems. But are we trying to find out how the system works? Of course not. What matters to us is that it works and gives us the desired satisfaction.
With the Blockchain, it's the same. It is not useful to your mind with the technical functioning but rather to understand why it is a revolution and how it improves your daily life.
The Blockchain is more and more present in our news. However, the explanations are often complicated. Here is a glossary (not exhaustive) to shine in society and become unbeatable on this technology.
What is Blockchain?
Blockchain technology offers new authentication and authorization tools in the digital world, eliminating the need for many centralized administrators. It thus makes it possible to create new digital relationships. Trust, transparency and time saving are the main advantages of this new technology. To go further, a blockchain is a distributed transactional database, comparable to a decentralized and shared ledger, that stores and transfers value or data via the Internet, in a transparent, secure and autonomous way because it does not have a control body; this registry is active, chronological, distributed, verifiable and protected against falsification by a system of distributed trust (consensus) between members (nodes). Each member of the network has an up-to-date copy of the ledger (in near-real time) and the content is always the same for all participants.
What is a cryptocurrency?
A cryptocurrency is an electronic, or virtual currency because it has no physical form. It is exchanged peer-to-peer on a decentralized computer system, or Blockchain, permanently updated and inviolable. The source code of a blockchain is based on cryptographic principles to validate transactions and issue the currency itself. A cryptocurrency is a digital currency designed to function as a reliable medium of exchange without account maintenance fees. The value of the currency can fluctuate; its purchase is, therefore perceived as an investment.
What is the link between Blockchain and crypto-currency?
The Blockchain was born following the subprime mortgage crisis in 2008, to overcome the financial uncertainties due to intermediaries such as banks, Bitcoin was born. The management of financial assets is no longer due to financial persons or institutions but to mathematics. The Blockchain is, therefore, the technology that allows the existence of cryptocurrency (among other things). A cryptocurrency is a means of exchange, like the dollar or the euro. The difference is that this currency is digital and uses encryption techniques to control the creation of currency units and verify the transfer of funds.
How does it work without intermediaries?
We are explaining this via mathematical proof.
There is no notion of trust in the Internet. That is why we use trusted third parties to transfer data or value. (Ex: For a data transfer such as sending an e-mail, Gmail is the trusted intermediary / For a value transfer, BNP Paribas, Bank of America, etc are the trusted intermediary). The Blockchain makes it possible to automate the process in a transparent, secure and decentralized way, allowing a direct exchange between two parties. Trust is no longer given to the trusted third party but to the cryptographic algorithms that guarantee the proper functioning of the process. The usefulness of the intermediary in an exchange of data or value becomes questionable then.
What is the Archethic Yellow Paper & the White Paper?
These documents provide an overview of the various technical, structural, economic and financial aspects of Uniris Blockchain.
The yellow paper: This is the technical sheet of the project. This document explains the Uniris technology and its operation in detail. It is divided into 5 seasons to cover all the innovations brought by the project to the ecosystem.
The white paper: This is the business plan of the project — a document explaining the economic model of our currency (UCO), a summary of the tech, an illustration of the significant use cases, the experience and expertise of the team and our partners.
What is a smart contract?
Smart contracts: are cases generated to simplify users' daily lives. It is one of the most promising applications of the Blockchain ecosystem. Unlike a traditional contract whose execution is guaranteed by a legislative framework, the execution of a smart contract comes under the governance of computer code. The latter is automatically triggered when its conditions are met.
A smart contract, therefore, defines the terms of an agreement between several parties, and its implementation does not require any trusted third party. Let's take an example: You pay your car insurance $240/month, it is a fixed rate that you negotiated when you signed your contract with a legislative framework. This amount is independent of any related factors (the type of conduct, offences, experience etc.) Now let's imagine that your company uses the Blockchain and offers intelligent contracts to its customers (you). The price of your car insurance then varies each month depending on your average speed, the number of times you use your car, the number of years of driver experience etc.
These variables allow the contract to intelligently adapt so you can offer the price closest to your type of driving, in real-time. It is one of the many use cases applicable to intelligent contracts.
What is the ARCH consensus? How can the ARCH Consensus help me?
What does this technical jargon mean? Simply put, with current methods in the Blockchain, it is impossible to create a network capable of supporting millions of transactions, with a high level of security and a lower amount of energy consumption, which is why Uniris has invented a new "consensus" mode, which makes it possible to have the most secure network on the planet, the fastest in the blockchain ecosystem & consuming the equivalent of 0.1g of sugar per transaction or a minute amount of energy. How can this help me? If today you want to create a Blockchain company. You choose the infrastructure best suited to your project:
The infrastructure that allows you to support millions of transactions in your company
The infrastructure that guarantees you the highest level of security, logical.
The infrastructure that consumes the least energy, and therefore makes you earn money. When you choose a blockchain to develop a project or invest, it's like choosing a car. It is necessary to analyze its performance, potential and use to make the right choice according to your needs.
How can I buy, store, sell, exchange Uniris parts? And where?
To buy your UCOs:
Visit Archethic for purchase options, only during the Private Sale & ICO, click here.
Purchase through specific cryptocurrency exchange platforms (Bitfinex, Huobi, Binance, Idex) giving you access to a live market 24/24h 7/7d.
To store your UCOs:
HOSTED] Host on an exchange platform that is responsible for storing wallets. It is easy to use the process of buying and selling tokens that often requires identity verification. However, trading platforms are susceptible to potential hacking.
SOFTWARE] Via software (MyEtherWallet recommendation) that stores the wallet in your phone/computer for quick and easy access. The wallet is stored in a secure area without centralized servers. You can access your wallet through an encrypted private key & password, and it is even possible to activate biometric identification (fingerprint)
PAPER WALLET] Generation of a wallet then printing on paper, intended for people who want to invest in time, accessible with an encrypted private key & password. This device provides greater security and confidence because it is cold storage (disconnected from the Internet), but it is not suitable for frequent use (requires copying the characters of the key for each transaction)Requires remembering the password used
HARDWARE] Generation of a wallet on a device designed for this purpose; it is the most secure cold storage medium that makes it easier to interact than a Paper Wallet. This device has a cost (59$) and requires not to lose the device, of course.
To sell your UCOs:
Sale through specific cryptocurrency exchange platforms (Bitfinex, Huobi, Binance, Idex) giving you access to a live market 24/24 7/7
Is Uniris a safe project?
Yes. The project is the most secure out of the entire ecosystem of the production chain. In a world where all our digital trust is limited to large institutions such as banks, Google or Amazon, it is difficult to find your way around. Today, blockchain technology makes it possible to achieve a higher level of safety. In this case, Uniris has the highest level of security in the entire Blockchain ecosystem and allows you to regain control of your data and digital identity. No need for intermediaries. Uniris is also officially certified as a partner by the Conseil National de l'Industrie, whose objective is to identify solutions that can contribute to the security of significant events in France such as the Paris 2024 Olympic Games.
Today, Uniris is the most secure data and value exchange system on the planet. To give you a scale of comparison:
- the security of a centralized network is 45%.
- The security of the network of ALL existing blockchains is 51%.
- The security of the Uniris network is 97.5%.
These figures are justified by mathematical algorithms validated by researchers at MIT, CNRS & Polytechnique.
In a world where the ownership of personal data is at the heart of current mores, punctuated by regular scandals about the management of our data by GAFAs: Uniris provides an innovative, reliable and easy-to-use solution to give the user control over their digital life.
In a world where the ownership of personal data is at the heart of current mores, taunted by regular scandals about the management of our data, Uniris provides an innovative, reliable and easy-to-use solution to give the user control over their digital life.
Archethic Public Blockchain
Archethic is a Layer 1 aiming to create a new Decentralized Internet.
Its blockchain infrastructure is the most scalable, secure & energy-efficient solution on the market thanks to the implementation of a new consensus: "ARCH".
Archethic smart contracts expand developers' boundaries by introducing internal oracle, time-triggers, editable content & interpreted language.
Through native integration for DeFi, NFTs & decentralized identity; Archethic offers an inclusive and interoperable ecosystem for all blockchains.
In order to achieve the long-term vision of an autonomous network in the hands of the world population, we developed a biometric device respecting personal data privacy (GDPR compliant).
Making the blockchain world accessible with the tip of a finger. Be the only key! https://www.archethic.net/
Archethic Foundation Non-profit in order to manage decentralized governance of the public blockchain
Do you want to learn more?
White Paper
Yellow Paper