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As CoinSpeaker reported, Ether Universe (ETU) will soon release its first mobile app, a cross-chain wallet, for iOS and Android devices.
Compared with traditional cryptocurrency wallet apps, Ether Universe’s have apparent advantages:
– It supports transferring tokens, regardless at the tokens based on Bitcoin, Ethereum,EOS and others.
– It can complete a transaction within 3 seconds.
– Users have full control over their private keys. The distributed technology and cryptography technology make sure that the transactions history remain immutable.
– Users can communicate on a P2P manner, so that transaction disputes can be reduced by pre communicate.
Ether Universe is the world’s first EOS.IO-based high-performance decentralized cross-chain platform, providing secure, stable, and fast cross-chain asset liquidity services.
Among the currently facing issues of blockchain technology, network isolation prevents the interactions across different blockchains and greatly limits its applications. Ether Universe is dedicated to solve this issue.
Ether Universe will employ distributed accounting technology and deploy 48 super nodes around the world. The super nodes will accept transaction snapshots submitted by users and process the corresponding data synchronization and data verification. Ether Universe will verify every node’s judgment toward a specific transaction and finally confirm or deny its validity. As long as transaction snapshots are submitted in parallel, Ether Universe may verify a transaction in 2-30 seconds, making every service node to be verifiable node for the corresponding transaction snapshot.
Ether Universe inherited the advantages of EOS, and is capable of a total volume of millions transactions per second, generate corresponding transaction snapshots. When a transactions is verified, a certain instruction set will be executed, as illustrated in the following diagram.
By using a cold-hot divisive transaction instruction set, users can exchange tokens between Ether Universe, achieving the value exchange.
All transactions are authorized by the buyer, and all transactions are recorded in the blockchain. As a snapshot is verified by multiple nodes, the transaction information will stay immutable. Even if there is any single-point cyberattack against certain nodes, as long as over 50% nodes are operational, transactions can still be made. Also, instant verification technology solves confirmation issue and the security issue regards the exchange of digital assets on different blockchains.
– Ether Universe employs a mechanism consisting of a hot instruction set and a cold wallet device to protect the security of users’ assets.
– Ether Universe uses the verification from multiple nodes to ensure the public trustability of the hot instruction set, and use distributed record to ensure transaction history data immutable.
– Supernodes can verify the eligibility to serve as a supernode of each other. With the DPoS mechanism, the digital assets on Ether Universe can be immune to losses of specific nodes.
For example, when a user would like to purchase EOS with ETH, they would usually trade on an exchange platform. There are two kinds of exchange platforms — one kind is centralized ones which provide convenient services but in risk of frauds and cyber attacks, and the other is decentralized ones which are more secure but at a price of more complicated usage.
By converting tokens over Ether Universe, the disadvantages of both kinds mention above can be bypassed. Compared with centralized exchange platforms, Ether Universe is securer and cheaper. Compared with decentralized exchange platforms, Ether Universe can be faster, more convenient, and easier to use.
The key innovation of Ether Universe is to connect the entire blockchain networks by adding socialization properties onto the cross-chain transactions. Users on different blockchains can communicate before trading, and disputes can be reduced. Certain scholars predicted the next million-level blockchain application may emerge in the fields of socialization, payment, and trading.
For now, Ether Universe has gather 180k members in their community, ranking top 8 among blockchain communities, merely below star projects like Bitcoin, Ethereum, Ripple, and EOS. Community members are mainly located in Vietnam, Indonesia, South Korea, China, Russia, and United States.
According to the white paper, the project has a clear roadmap and a grandeur prospect. Although it has gained great attention around the world, the actualization of the team’s vision is still difficult, and the commercial application remains to be tested over time.