What have we gone through to achieve excellence? Our blockchain is an ever-evolving masterpiece that will be the storage alternative of the future
“Meta” is the stage of extending the storage resources of “Ultraspace” and it is also the full version of UltronGlow phrase 1.0.
Users prepared their own storage resources in the previous stage, and at this stage, users’ storage resources will be able to be traded. In short, users can provide fragmentation storage services, open storage services, etc. to consumers that need them.
Consumers need to use UTG as a payment and UltronGlow will destroy the UTG paid by consumers and issue equivalent stable coins called SRT (Storage Resource Token) to calculate the service volume. The service party will get the corresponding UTG as an incentive, and this is why they say “Service is the principle of mining”.
This is the third consensus mechanism of UltronGlow, which is called Proof-of-Traded Storage. At the same time, the consensus PoSV (Proof-of-Spacetime Verification) will be introduced to make sure the authenticity of the storage resources, quality of bandwidth, and the contract of storage services. GLOW has a natural ecological cycle, with an incentive mechanism but also a destruction mechanism. The application of storage space rental will go online at the end of November 2022. Users may get storage space by UTG on UltronScan’s explorer. Once the Storage Space application is online, the R&D of PoSV consensus will be initiated. PoSV consensus is expected to be launched in the first quarter of 2023. We planned to merge PoSR & PoTS consensus into a consensus and name it POC after the PoSV consensus is launched. More 3rd party ecological DApp such as DEX, oracle, cross-chain bridge, lend, and GameFi will be online in the near future.
“Meta” Work Scope
PoTS CONSENSUS PROTOCOL
The PoTS is one of the GLOW consensus protocols on UltronGlow’s blockchain network. It is finally online on July 7th, 2022. Users may list their Storage Space on the storage market in UltronScan block explorer and users may pay UTG and obtain storage space for personal or corporate use. The UltronGlow mainnet is now compatible with Ux and 0X addresses.
ULTRONSCAN BLOCK EXPLORER
The Ultronscan block explorer upgraded some features for storage nodes and users such as Storage market, Rental Rewards details, smart contract details, PoTS rewards, PoTS calculator, IDE tools, network SDK, and API, The shown UltronGlow’s address is now switching from Ux to 0x.
The Glow Testnet is upgraded and runs the latest UltronGlow Meta mainnet release version.
UIP 1.1.1 GASfee redefine
UIP 1.1.1 is to make sure the deflationary rate of UTG will increase through a 50% GAS fee destruction and help reduce the circulation of UTG in the market for long-term purposes. GAS fee allocation is divided into two parts. 50% direct send to the blackhole address for destruction purposes. 50% goes to the PoS node that produces the particular block while processing block verification.
UIP 1.1.2 REDEFINE PLEDGE PROCEDURE
UIP 1.1.2 is to solve some hidden risks in the way and process of users’ previous node pledge procedure, add-on address type functions for nodes, and enhance the security of UltronGlow’s Mainnet by add-on the minimum PoS node service commitment time for at least 1.5 years. Redefine address type with Miner Addresses, Admin Addresses, Reward Addresses, and Delegate Addresses. The penalty point mechanism has been optimized. Delegate address direct entrust pledge to PoS node is implemented.
3RD PARTY WALLETS COMPATIBLE
UltronGlow is now compatible with 0x and Ux addresses. The UltronGlow network is able to add in Metamask, ImToken, Token Pocket, Bitkeep, and more multi-chain wallets.
Votespace is a 3rd party DApp for DAO or any projects team to make consensus proposals, discussion polls, or votes. This is one of the main ecological projects for UltronGlow’s milestone.
PenguinSwap is the first DEX that’s being hosted on the UltronGlow mainnet and it had been tested on UltronGlow’s testnet for more than 10 months. PenguinSwap’s features included swap, liquidity, limits, perpetual, prediction, igloo, pool, and more new features that will be rolling out in the future.
UltronGlow will list on a few exchanges including the TOP 5 exchanges in the world in the first quarter of 2023.