- Project name: Uranus
- Token symbol: URAC
- Website: https://uranus.io
- White paper: https://uranus.io/static/Uranus-Technical-WhitePaper-EN-V2.7.pdf
- Hard cap: 35,000 ETH (token sale contributors will own 35% of the total token supply)
- Conversion rate: TBA
- Maximum market cap at ICO on a fully diluted basis: $48 million based on current ether price of $480
- Bonus structure: TBA
- Private sale / white list: Whitelist registration forms will be posted in a few weeks. Priority will be given to registrants based on when they joined the Uranus Telegram group, social media activity, etc. Please see the pinned message in their Telegram group for details.
- ERC20 token: TBA
- Countries excluded: USA, Canada, New Zealand, China, Republic of Korea
- Timeline: TBA (please visit the project’s official website and join their Telegram channel for the most up-to-date information on their upcoming token sale)
- Token distribution date: TBA
Video summary (video is 7:31 long):
What does the company/project do?
Uranus is creating a blockchain-based platform that provides efficient, cost-effective and decentralized computing services for its users. It aims to tackle the issues facing current public cloud solutions, including data security risk, lack of flexibility, difficulty in migration, and high cost.
To do this, the team proposes to leverage redundant computing power around the world using scalable public blockchain and distributed container technology.
The platform will ideally scale to hundreds of thousands of computing power contributors, application developers and resource users. Their goal is to attract over 500,000 resource contributors and resource users by Q1 2019.
Any distributed node can be used as Uranus nodes, including computers, PCs, servers, set top boxes, embedded terminals, IoT nodes, mobile terminals, etc. Uranus will function as a BaaS (Blockchain as a Service) and provide one-click deployment and application supermarkets for other nodes on the chain.
This diagram illustrates the architecture of the Uranus system:
Key components of the Uranus platform include:
- Uranus chain (uraChain): A four-layer blockchain architecture comprised of a storage layer, network layer, protocol layer and extension layer. It utilizes Proof-of-Contribution (PoC) mechanism as its consensus algorithm.
- Uranus blockchain (uraBlock): Supports basic public blockchain, cross-chain, forking, optimization of consensus algorithms, extended off-chain services, and fair-service supply measurements.
- Uranus management engine (uraEngine): An infrastructure module used for large-scale scheduling, and automatic deployment, extension and management of containers.
- Uranus computing power container (uraContainer): Utilizes enhanced container technology to ensure both security as well as speed and manageability.
How advanced is the project?
Uranus is still under development. The closed beta test and the first community version is expected to be released in Q3 2018. The project’s future development roadmap is divided into five phases as follows:
Phase 1 (Q3 2018): Community Version V1
- Complete the closed beta test and release a community version.
- Users may register their own computing power devices and use a small number of verified applications.
Phases 2-4 (Q4 2018 to Q1 2019): Commercial Version V2, V3 and V4
- Release commercial versions V2, V3, and V4 – the target number of platform users will increase from 10,000 users in V2, to 100,000 users in V3, to 500,000 users in V4.
- As the computing-power resource pool increases, resource contributors will be rewarded with more revenue. In addition, as trading volume increases, trading income will begin to be generated.
Phase 5 (Q2 2019): Ecological Version V5
- As the platform scales, more industries and collaborators will be able to participate in application creation and contribution.
For a code review of the project, please refer to this article: https://cryptobriefing.com/uranus-code-review-ubiquitous-sharing-platform/
What are the tokens used for and how can token value appreciate?
The URAC token is the network’s native token and is used to purchase computing power, govern the ecosystem, gain voting power, and elect validators. The token will be used to incentivize various users of the platform:
- Resource providers: Provide computing power to the network and are rewarded with URAC tokens based on the value of their contribution. Their value is determined based on CPU computing power, uplink bandwidth, shareable storage space, available memory, effective online duration, etc.
- Resource users: Use URAC tokens to purchase computing power from resource providers via a client interface. Smart contracts are used to generate a price and a purchase agreement to facilitate payments.
- Validators: Responsible for generating blocks and are required to stake URAC tokens. They are rewarded with URAC tokens for successfully completing blocks. Uranus will also maintain a pool for mining rewards.
URAC will leverage various mechanisms such as Delegated Proof of Stake (DPoS), Byzantine Fault Tolerance (BFT), and Proof-of-Contribution (PoC). For example, Uranus utilizes PoC to schedule computing power containers; machines with a higher contribution value are more likely to be scheduled and allocated to users, and therefore, can earn more tokens.
URAC tokens should appreciate in value as more participants join and use the network which is in turn driven by factors such as the availability and pricing of computing power, processing speed, security, etc.
According to LinkedIn, Beijing Uranus Technology Co., Ltd. was established in 2017 and is based in Beijing, China. The Uranus team is currently comprised of at least 19 people: 2 members on the Executive Team, 6 Technical Advisors, and 11 people in Product Development. The biographies of the key team members are summarized below:
James Jiang, Chief Executive – Over 13 years of experience and was the founder and Chief Executive of Beijing Cloud Times Technology Co. Ltd., an enterprise-level desktop cloud company based in China. Prior to that, he was a General Manager and Board Chairman at ZTE and established ZTE’s subsidiary Shenzhen ZTE Integrated Telecom Ltd. / Shenzhen ZTE Mobile Telecom Co. Ltd. He obtained his Master of Mathematics from Texas State University and his Master of Operational Research from Nanjing University of Science and Technology.
Halley Han, Chief Architect – Over 17 years of experience with expertise in server virtualization, cloud computing, and open source technology. He was the co-founder and CTO of Beijing Cloud Times Technology Co. Ltd.. Prior positions include Chief System Architect at ISoft Infrastructure Software Co., Ltd.; Architect/Linux Team R&D Leader at Wyse Technology; Co-founder and Architect at Beijing Aner Kechuang Information Technology Co. Ltd. He obtained his Master of Automation from the China Agricultural University in 2004.
Dr. Sheng Liang, Chief Container Expert – Over 22 years of experience with expertise in cloud computing, virtualization and distributed systems. He was the CTO of Cloud Platforms at Citrix Systems for more than 3 years. Prior to that role, he was the founder and CEO of Cloud.com, an open source software platform that was acquired by Citrix in 2011. He has worked in various roles at SEVEN Networks, Openwave Systems, Teros Networks, and Sun Microsystems. He obtained his Ph.D. in Computer Science from Yale University in 1996.
Dr. Zou Jun, Chief Blockchain Expert – Over 20 years of experience with expertise in cloud computing, big data analytics, storage cloud and blockchain technology. He was the co-founder and CIM of Scry.info Operations Community, an open source data sharing blockchain platform. Prior to that, he worked in various roles at HainaCloud, Futong Dongfang, West Cloud Valley, Centrin Data Systems, and was an IT architect with IBM in China and Australia for more than 10 years. He obtained his Ph.D. in Accountability in Cloud Services from Macquarie University in 2016.
Liren Chen, Chief Scientist – Serial entrepreneur with expertise in big data, AI and blockchain algorithm and products. He was involved in a number of successful startups including vivisimo (acquired by IBM in 2011), yunyun.com (acquired by Sina in 2013) and Passion Technology (acquired by Meituan in 2016). Previously, he was a Tech Lead and Software Engineer at Google for more than 6 years where he was responsible for research and development for Chinese, Japanese and Korean searches, big data and large-scale systems, and academic and legal searches. He obtained his Master of Computer Science from Tsinghua University in 1996 and from Carnegie Mellon University in 1998.
Advisors of the project include Michael Meng, Senior VP of Xinyuan Technology Group and Partner & CMO of RChaintech; Wang Zishang, Council member of the China Artificial Intelligence Industry Alliance; Zhao Peng, CEO of Hyper; Lv Xinhao, Co-founder of iotchain; and others.
Investors of the project include Acropolis Capital, Async Capital, BitcoinWorld.com, Bitgogo, Bixin Capital, ChainTED, CoinBene, DU Capital, Imagination Fund, and Stars Capital.
- Strong team from a technical perspective with expertise in open source technology, cloud computing, containers, virtualization and blockchain technology. According to their whitepaper, the team has created products that have been successfully commercialized and used by the top 20 corporations, military and government markets.
- There are many potential use cases for large computing projects based on distributed computing, such as weather analysis, machine learning, and edge computing.
- The global public cloud market is growing rapidly. According to a Garner research report cited by the team, the market has grown from $68 billion in 2010 to $307 billion in 2017 and is projected to surpass $383 billion by 2020.
- The development roadmap is rather vague and doesn’t provide a lot of specifics on technical milestones or actual business development strategy.
- Competition from centralized public clouds (i.e. Amazon, Microsoft, AliCloud, etc.) and other blockchain solutions that are also trying to provide low-cost, decentralized computing services.
- Other blockchain players that may compete with them in one way or another include Golem, SOMN, Hadron, Akash Network, Hyper Network, Rchain, Ankr Network, etc.
- No MVP yet until the end of September.
- DPoS is not a very decentralized consensus mechanism.
Our thoughts on buying the tokens for flipping and investing for the long term are as follows:
For flipping: B
The project has average market awareness. It also does not seem to differentiate among other distributed computing projects. In the current market environment, we are neutral about its short-term potential.
For long-term holding: B
The development of the project is still at a very early stage compared to other similar blockchain projects. In the distributed computing space, our money is on Hadron because of its team, partnership, and progress made so far.
For more information about the ICO, please visit the following links:
* The information contained in this article is for education purpose only and not financial advice. Do your own research before making any investment decisions.