Step 1: Creating a fungible IoT Mining Experience
uPlexa aims to utilize a portion of the 8.4+ Billion current IoT devices to power its network.
There will be over 20 Billion IoT devices deployed in the world by 2020. Source: ZDNet
At the core of uPlexa, is the functionality to mine blocks via IoT devices in order to power the network and process transactions.
uPlexa utilizes a modified version of the cryptonote algorithm in order to make IoT mining profitable whilst keeping out ASIC technology to avoid centralized mining.
Imagine, if every smart appliance in your household could pay for a partial amount of the electricity to run said devices by only tapping into a percentage of your unused resources? This means a lot in developing countries, especially in Southeast Asia where the devices are cheap(er) to obtain, but expensive to run.
It is not rare for an individual to spend upto 20% of their income on electricity in parts of Asia.
Step 2: Creating Platforms and Utility for Spending
Our vision is to create multiple platforms around uPlexa to compliment its swift, private, untracable and fungable objectives.
Our first platform will be focused on eCommerce ($22+ Trillion industry)
Users with uPlexa in their wallets will obviously want some type of utility. Thus, other than its amazingly secure & anonymous IoT features, we will be building & integrating an anonymous ecommerce platform around uPlexa.
Our team comes from a background in the eCommerce industry who have personally taken time to understand the positives and negatives of multiple eCommerce platforms in existance. Our goal will be to make a customizable eCommerce experience that not only supports cryptocurrencies and uPlexa in general, but one that is free to run until your store is profitable.
uPlexa will have an off-chain model labeled "NGZM" (Near-Zero Congestion Model) in-which provides an API to businesses and webmasters in order to process off-chain transactions via users credited uPlexa coins.
Step 3: Establish Partnerships for Anonymous Service Payments
Another one of many uPlexa goals, is to esablish partnerships with IT service providers in order to anonymize service payments via uPlexa.
The idea behind anonymous service payments, is that your service provider cannot specifically sell your data to other companies or governments without knowing who you are, or at least who is paying for and/or accessing your account. This helps reduce the risk of impact by government spy programs and hackers, benefiting your OpSec.
Utilizing uPlexa to pay for your your phone, internet or other IT service bills, will be a step in the correct direction of preserving your privacy rights as an individual.
uPlexa utilizes a 7% premine in order to contionously fund its large amount of infrastructure, bounties, airdrop, and team efforts. We do not believe in giving a project a pricetag before providing value to the community first, thus will not be holding an ICO.
All Bounties and team members will be paid in uPlexa.
A bounty will be rewarded to those who help us sign various partners such as IoT service providers, in order to help achieve uPlexas fullest potential.
A bounty will be rewarded to those who find medium to severe bugs within uPlexa or its platforms.
A bounty will be rewarded to those who are able to provide translations for the website and whitepaper(s)