INTRODUCTION TO UDAP : TOKENIZE EVERYTHING

adelekejustin01 (39)in #ico • 5 years ago (edited)

Good day everyone,i would be intoducing to you the UDAP, is blockchain abstraction layer that can signiﬁcantly reduce the cost of building asset oriented applications, both in the development time and runtime.Today i would be giving a brief induction to UDAP.

WHAT IS UDAP?
UDAP is a blockchain-based asset protocol that sits between applications and public blockchains to
provide Restful APIs and an "Asset Wallet" for application developers to create powerful blockchain
based applications without writing any smart contracts.

In what we call a "Asset Oriented Programming" model, app developers take advantage of the
traditional Internet application architecture and use UDAP as a layer of

asset tokenization;
transaction notarization; and
contract adjudication in case of dispute.

Technically UDAP provides multiple modules to speed up app development, such as:

Token service, to manage the full life-cycle of asset-backed crypto-tokens. Applications can
immediately register token-based assets on chain and offer built-in marketplace to their
customers.
State channels service, to allow applications to conduct transactions mostly offline and
secured by public blockchains, such as Ethereum.
Data obfuscation service, to hide the ownership of assets, using Ring Signature
technology.
Secure content distribution for digital content assets, using Proxy Re-Encryption
technology.
Exchange service, for decentralized asset trading, including app-currencies and asset
tokens.
Universal wallet for versatile mobile user interface to deal with any token-backed assets
that UDAP has helped to maintain.

UDAP implements state channel technology to solve some of the most challenging issues with
developing and running Blockchain-based applications:

Scalability: blockchains only can do that much of scalability because it needs to balance
between factors of decentralized security, data liveness and finality. Using blockchain blindly
as a data store and generic computing platform would not scale. State channel technology
treat blockchains as the dispute adjudication layer, or court system that usually is not
involved in the minute-by-minute operations, but only plays its role when contracts need to
be enforced and critical assets need to be secured.
Cost: blockchain transactions are expensive, many thousands times more expensive than
centralized architectures. State channel allows transactions to run locally off blockchains,
thus carries a cost model comparable to traditional Internet applications.
Privacy: data on public blockchains is public by definition and open to any curious eyes.
Some applications may choose to keep the transactions in private unless the users choose
to go to public blockchains for higher level of assurance and interoperability. Even in the
case of going to blockchain, UDAP provides technology to let users control the visibility of
their assets.
Responsiveness: dApps as most people have experience with are slow-paced and usually
are an order of magnitude slower than the commercial Internet applications that people have
been used to. State channels would enable blockchain supported applications to offer best
possible UX together with unique features of decentralized ledgers.
To accomplish these promises, UDAP on the backstage provides a set of smart contract (initially
based on Ethereum) templates that is configured by applications before deployment and at runtime.
We believe that the automatic templating system can cover 90% of regular application use cases.