UltronGlow is a new-generation public blockchain platform that has attracted the attention of practitioners in the global industry. It has been officially launched globally on November 30, 2021. Let us have a comprehensive understanding of UltronGlow:
UltronGlow is a decentralized and open source public blockchain platform. UTG is the native governance token of UltronGlow. The concept of UltronGlow was first proposed in 2019 by Base’s programmers inspired by Ethereum and Filecoin, and it is positioned as a "blockchain platform for distributed edge computing and fragmented storage applications." In the latest version of the "UltronGlow White Paper" released by Base in 2021, the goal of building a distributed edge computing and fragmentation storage that can truly integrate the virtual world and real-world business is indicated, and at the same time, UltronGlow's development fund crowdfunding has been opened. During the crowdfunding period, it attracted a series of followers and supporters to join. UltronGlow's consensus mechanism is called GLOW. GLOW currently has assembled three major consensus mechanisms PoS (Proof-of-Stakes), PoSR Proof-of-Storage Resource) and PoTS (Proof-of Traded Storage) to maintain the smooth operation of the entire UltronGlow in the 1.0 phrase. UltronGlow is different from other public blockchains, because it has a large number of edge server node devices, storage resources and edge computing capabilities around the world to support the entire UltronGlow blockchain network. Because of these infrastructures, anyone who wants to deploy apps, DApps, games, and other programs can use UltronGlow's blockchain network and infrastructure for services.
Initially, the UltronGlow program was jointly developed by Base and Blube, and then transferred to a non-profit organization "Ada Byron Foundation", and the Ada Byron Foundation will supervise and grow the ecosystem development of UltronGlow. At the beginning of the platform's development, some people recognized the UltronGlow's technological innovation, but others questioned its security and scalability. The development project is divided into four stages: Origin, Ultraspace, Meta, Edge.
Origin 2021
UltronGlow's public blockchain was launched on November 30, 2021. The very first version is called "Origin", which uses the Proof-of-Stake consensus mechanism. "Origin" can only be accounted for at the beginning. The main function is to initiate the pledge node, allowing users more time to join UltronGlow, and at the same time let users join the campaign for the "Ultron Node". Any pledge node can participate in the parliament. The system will hold an election in the parliament every 7 days. The 500 pledge nodes with the most assets will be selected as candidate nodes, and the "Ultron nodes" will be elected from the 500 pledge nodes. The transactions and the use of smart contracts begin after 1 month.
Ultraspace 2022
After the spring of 2022, the new consensus mechanism is Proof-of-Storage Resource, and a new algorithm that allows participants to provide storage resources to contribute is released, called "Ultraspace". This upgrade gives users time to prepare for the supply of storage resources while attracting more users to provide storage resources to pave the way for the next stage. Users can get incentives while providing storage resources. The global storage resources will become UltronGlow's distributed storage nodes.
Meta 2022
"Meta" is the stage of extending the storage resources of "Ultraspace" and it is also the full version of UltronGlow 1.0 phrase. Users prepared their own storage resources in the previous stage, and at this stage, users' storage resources will be able to trade. In short, users can provide fragmentation storage services, open storage services, etc. to consumers that needed. Consumers need to use UTG as a payment and UltronGlow will destroy the UTG paid by consumers and issues equivalent stable coins for 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. The combination of the three consensus mechanisms is called GLOW. GLOW has a natural ecological cycle, with an incentive mechanism but also a destruction mechanism.
Edge (2023)
"Edge", also known as "UltronGlow 2.0", is the overall upgrade stage of the project. The main function add on is edge computing services, so that users' CPU computing power is really used for real business instead of wasting resources purely for mining by consuming electric source. The emergence of "Edge" can truly realize the integration of the real world and the virtual world, that is, when users deploy any project in UltronGlow, they need computing power and storage space to store data, and all data is recorded on the UltronGlow blockchain. The basic framework of the true meta-universe.
UTG
The governance token on the UltronGlow blockchain is called (Ultron), and the code is UTG, which can be traded in many cryptocurrency markets. It is also a medium used on UltronGlow to pay transaction fees, distributed fragment storage, and edge computing services. The total issuance of UTG is 105 million, which is allocated as 5% Foundation to develop ecosystem, 5% Founding team incentives, 20% global community incentives, 5% PoS incentives, 15% PoSR incentives, and 50% PoTS incentives. Through the use of multiple services by users, UTG will be minted and destroyed until the circulation of UTG remain 21 million then the destruction of UTG will stop. In this way, UTG's circulation will not depreciate due to inflation caused by the growth of time, but will allow UTG to form a perfect ecologic cycle through output, consumption, and ultimately deflation and appreciation.