Project Name: uPlexa
Coin Ticker: UPX
Market Cap: $201,640 (as of 28th May 2020)
Mining Algorithm: UPXTWO (IoT Focused)
Block time: ~2 Minutes
Original code base: Cryptonote
Founder’s reward or analog: 180M UPX out of a 735M UPX Premine
How does the project protect users?
The uPlexa network protects users privacy by utilizing ring signatures (ring signatures use decoy transactions to obfuscate the address of the senders), RingCT (hides the amount of UPX sent in each transaction), stealth addresses (one-time addresses created by the sender for each transaction), a splitting algorithm, and PlexaNet; a layer 2 onion routing protocol in which will provide users access to a censorship free, highspeed, underground privacy based internet amongst the option to still visit “clearnet” websites under a different IP address. You may gain access to the anonymity network by mining on your IoT devices or by purchasing UPX coins.
Explain the Anonymity Sets (per txn):
uPlexa utilizes ring signatures over the ordinary digital signature to produce private transactions. Ring signatures take a more sophisticated approach to the ordinary digital signature. The main distinction with the ordinary digital signature schemes is that the signer needs a single secret key, but a verifier cannot establish the exact identity of the signer.
The ring signature is composed of the original signer, whom is then combined with non-signers to form a ring. The original signer and non-signers in this ring are all considered to be equal and valid. The original signer is a one-time spend key that corresponds with an output being sent from the sender’s wallet. The non-signers are past transaction outputs that are drawn from the uPlexa blockchain. These past transaction outputs function as decoys in the ring signature transaction, by forming part of the inputs of a transaction. From the perspective of an outside party, all of the inputs appear equally likely to be the output being spent in a transaction. uPlexa utilizes ring signature technology to help the sender mask the origin of a transaction by ensuring that all inputs are indistinguishable from each other.
Privacy By Default:
uPlexa is privacy by default with no option to disable anonymity/privacy features. We believe that an option to disable privacy features could potentially compromise individuals due to a simple mistake, or a lack of understanding (which is what happened with users of Zcash). However, you may provide your wallets private “view key” to your countries tax authorities, or publicly disclose total funding as a charity. This makes it less likely that regulators will ban uPlexa. Lastly, there are also proof-of-spend keys that may be used in the event of escrow.
% tx Anon: 100%
What makes your wallet easy to use?
Our wallet is cross platform (available for: Web browsers, Windows, Mac, Linux, Android and soon iOS), is self explanatory in its interactions and is fully documented. Sending and receiving UPX takes no more than a few clicks, or a QR code scan.
What are you doing to make the wallet more user friendly?
To ensure user simplicity of our wallets, we have implemented multiple fail-safes to ensure users are not doing something they do not understand nor wish to do. Recently, we have also launched our “ElectraLight Wallet’’, an extremely lightweight and versatile wallet that covers all necessary functionality without having to run your own local node. The ElectraLight wallet may also be used to connect to the internet privately (like a VPN) once we launch PlexaNet in our “Steadfast Storm” release.
Supported OSs: Windows, linux, mac, android, and in Q1 of 2020, we will support iOS.
GUI: We have a GUI wallet available for Windows, linux, mac, and android as of the current moment.
Why is privacy important to your project team?
Privacy advocates understand that privacy is a fundamental human right. They realize that in our current world, it is being abused more than ever. The uPlexa community is full of individuals who are supporters of modern, cutting edge financial technologies and we also know how these technologies, companies, rogue nations, or malicious individuals may use said technology or information against us. At the moment, most blockchain technology may be equated to walking around naked, transparency for all to see. In addition, internet censorship is at an all time high and freedom of expression has never been more oppressed. This is why uPlexa was founded and is why we support the casual users all the way up to the most cautious individuals. Whether you wish to use uPlexa to simply hide the value of your assets or transactions from the world, or to practice an advanced level of operational security, we have you covered.
Why Should Service Payments be Anonymous?
• Anonymity provides protection from spy programs with the sole purpose of stealing your private information
• Helps protect you from your data being sold for marketing or other purposes
• In business: Avoid other companies from knowing who you’re paying, or which company you may be acquiring, investing in, or partnering with
• Keep your business suppliers in secret
• Escape government repression and service bans
• Avoid blackmail from ISPs or employees who spy on your data
• Hackers will be unable to trace a transaction to your name, or hijack your mobile access with your personal details to further obtain access to your online accounts
What makes your project stand out above other projects?
We were the first to create a truly IoT viable PoW mining algorithm and a fun and profitable IoT mining experience for our target audience. We believe that for a PoW based project to become truly decentralized, you must focus on a mining experience that may adequately be applied to the most amount of devices in existence. Our upcoming anonymity network, “PlexaNet” will deliver the most private and cost effective VPN service that will also allow individuals to build privacy based applications (UNApps) on top of.
What do you have in the works for future development?
We are currently working on implementing PlexaNet, an anonymity network that anybody may connect to, in which will also act as a decentralized VPN. Users will be able to allocate a monthly limit of UPX in their wallets allowing the network to automatically utilize to help pay for bandwidth allocation and reward Utility Node operators for their high-speed exit-nodes. PlexaNet is faster than TOR, and more cost effective than any current centralized VPN on the market. If you do not wish to purchase UPX coins to access the network, you are able to download any of our IoT miners (such as the android miner), and mine for 4–24 hours to have a sufficient-enough amount to access the network for days or weeks to browse anonymously. PlexaNet is set to go live here in Q1 of 2020.
We have also been working on an eCommerce project to rival competitors such as Shopify and WooCommerce, with full support for cryptocurrencies. The eCommerce project, known as “ShopYA”, is set to go MVP in July of 2020.
Cryptocurrencies are defined by strong cryptography, and cryptography is headed in the direction of post-quantum algorithms. Thus, we have also been researching post-quantum algorithms (“quantum resistance”) with the goal to implement a post-quantum algorithm by 2021 to help secure the future of our blockchain.
What is the path to mass adoption of your project?
Although we have standalone integration support for Magento, WooCommerce, OpenCart, PrestaShop, and WHMCS; we’re no longer as focused on unrealistic external integrations and pipedreams that most of the crowded industry is aiming for. The top 10 projects are unable to acquire implementations by major services as currencies. Thus, we chose not to run at the same wall. Our goal in 2020 is to create an internal economy with specific use cases in which using UPX coins is completely viable, such as our dVPN/PlexaNet and through ShopYA and other privacy based utilities that may be built on top of PlexaNet as UNApps (private and decentralized applications).
The most important aspect we want our community to acknowledge is that we are not a company, but rather a community. Anybody is welcome to come and contribute to the project with any of their skills. If we do not implement your suggestions, you are also more than welcome to fork our project to implement your own technology or ideas.
Community contributed knowledge base: https://kb.uplexa.com
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