AMA with Uniris
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Welcome to the recap of our AMA with Uniris!!
Our vibrant and enthusiastic community had a lot of questions to ask. To those who want to know quickly what Uniris is about, we are sure this recap is gonna help you. So without further ado, continue reading
Introduction with Uniris
| DK | 🌿 | Never PM/DM First 🐞:
Q1. So, firstly Can you guys introduce yourself and also please tell us how did the name Uniris came into being for this project?
Nilesh Patankar:
I am Nilesh and I cofounded this company along with my friend Sebastien. I come from payments industry having worked for MasterCard, Barclays and PAYBACK earlier. We started talking about this venture in late 2015 and registered the company in 2017. Uniris name is formed by composing Uni + Iris. It means something like a single soul, a symbol of inclusion and equality. It is something we worked hard to achieve — a global, scalable, truly decentralized, inclusive blockchain.
Akshay Kumar;
Yes, I am Akshay, I currently head the R&D part of Uniris blockchain and biometrics
I fully got into the blockchain space just after graduating from Unirversity in 2018
Before that I was involved with the very early developments of blockchain projects
| DK | 🌿 | Never PM/DM First 🐞:
Q2. Can you talk a bit about what use case is Uniris serving to its customers ?
Nilesh Patankar:
Uniris is a completely new protocol that is addressing the current shortcomings like scale and simplicity. We have woven decentralized identity into the core protocol hence it is well suited for all kind of identity management solutions. It is highly ergonomic blockchain platform which means any or all blockchain or decentralized applications can be built on top of it. We are initially aiming at building a NFT platform (like opensea) and a secured clutter-free email service. We are parallely in discussions with potential DeFi projects.
Moreover, Uniris is being certified to organise the Paris Olympics 2024, this alone will serve at least 8 million customers!
| DK | 🌿 | Never PM/DM First 🐞:
Q3. Can you elaborate how us Uniris ushering in the new Blockchain generation?
Nilesh Patankar:
Most of you would have heard about the blockchain trilemma — scalability, security and decentralization. Most of the blockchains struggle to provide all 3 and most of the recent research has been to achieve these 3 key parameters. Uniris is a result of 4 years of research trying to solve this trilemma puzzle. We aim to outperform the current blockchain standards and also integrate our solution with native identity provided through crypto-biometrics. Uniris architecture provides linear horizontal scalability. Given enough nodes we can even target 1 Million TPS. Here are some KPIs -
Ergonomics: a platform for all blockchain applications
Scalability: > 1 million transactions/sec
Instantaneous: < 5 sec validation time
Security: 0.0000001% risk of fraud even with 90% of malicious nodes
Sustainability: 3.6 Billion times less energy consumption than Bitcoin, 0.1% average transaction costs
| DK | 🌿 | Never PM/DM First 🐞:
Q4. From the perspective of investment how is UCO beneficial to its long term token holders?
Nilesh Patankar:
The economics of supply and demand are key to value creation. Uniris network ensures the right balance of supply and demand.
The supply is controlled by: Limiting the offer — 10 Billion UCOs ONLY. Control distribution — only private and public sale tokens available for trade in inception years. Programmed deflation — destroy part of UCOs resulting from transaction costs.
The demand is created by: Providing an E2E integrated services platform powered by biometrics, furthermore scalability provides endless use-case possibilities and finally being certified to provide secure access for global international events like Olympics 2024 and Rugby World Cup 2023 ensures enough end users.
The day to day price of any crypto keeps fluctuating. We believe in long term relationships. In the long term the price of UCO is bound to go up. The Olympics alone will add 8 Million users to Uniris. Imagine what other events like the Rugby world cup would do. The network effect is unbelievable !!!
As far as the price of UCO goes, here is a rough value creation illustration:
for example, consider an event such as the Paris Olympics 2024, which alone brings together 8 million people and knowing that the maximum number of UCOs exchangeable on the market over this period will be around 75% (7,5 billion UCOs), considering 10 million overall users, we obtain:
(10 million)1.5 = € 31.6 billion, i.e. a valuation per available UCO of €31.6 billion / 7,5 billion UCO ~ € 4.2/UCO, the 1.5 multiplier comes from the Metcalfe’s law.
| DK | 🌿 | Never PM/DM First 🐞:
Q5. What is Uniris gunning for further in 2021 ?
Nilesh Patankar:
2021 is going to a milestone year for us. Here are some of our plans: Test-net: May — June
Main-net Deployment: July
First use-case: August
Second use-case: November
Bounty Programs and Hackathons: October — December
Initiation/Plans to deploy Uniris Biometric devices: Early 2022
Community ask Questions by Twitter
| DK | 🌿 | Never PM/DM First 🐞:
Twitter question no 1.
From : @Wormz28
How can I buy Uniris Coin and where can I store it? How and where can I sell or exchange it? Is $UCO token a utility token or Security token?
Nilesh Patankar:
UCO currently is an ERC20 token so you can store it any wallet that supports ERC20 tokens (like MetaMask or relevant exchange wallets). UCO is a cryptocurrency and not a utility or security token. It is the fuel that powers the public blockchain. You can buy, sell, trade UCO on -
Probit.io
Bithumb global (bithumb.pro)
Zebitex.com
Blockchain.io
Uniswap
| DK | 🌿 | Never PM/DM First 🐞:
Twitter question no 2.
From : @Boutchoudols
Salut Uniris
Comment avez-vous constitué votre équipe ?
Comment vous est venu l’idée de créer ce projet ?
Le projet est juste dingue.
Est-ce totalement infaillible ?
Serons nous totalement maître de nos données personnelles ?
Merci
Nilesh Patankar:
I am still French language student and not fully proficient but I am going to try to answer, pardon any mistakes: Les fondateurs d’Uniris sont
Sébastien Dupont: PDG @Uniris, il était auparavant à la tête d’Orange Money, un conglomérat de 4 milliards d’euros d’Orange
Nilesh Patankar: 25 ans d’expérience dans l’industrie du paiement. Il était auparavant responsable de la technologie des paiements chez Barclays, et était le vice-président de MasterCard. et CTO chez Payback
Christophe Bruno: Il a servi 25 ans dans l’armée française et les forces spéciales et apporte une grande expertise en matière de sécurité
Peter Scanlon (Conseiller @Uniris): Ex-CMO de Mozilla, directeur du Google Creative Lab (Building the Open Source Community)
Anne Lange (Advisor @Uniris): Directrice du Conseil — Orange, Peugeot Holding, Pernod-Ricard et Imprimerie Nationale, Directrice Exécutive Innovation Cisco et Fondatrice de Mentis
Les autres membres de l’équipe sont issus des équipes d’Ethereum Développement, de l’Ecole Polytechnique, de Google, du CNRS, etc …
(https://uniris.io/fr)
Comment vous est venu l’idée de créer ce projet ?
Tout d’abord, nous étions intéressés par la création d’une place de marché P2P sur Ethereum, mais l’évolutivité était un problème, nous avons donc commencé à penser à un protocole de blockchain qui pourrait être hautement évolutif, durable et sécurisé. D’où l’idée d’Uniris s’est inspirée
Deuxièmement, pour la biométrie, la plupart des personnes qui sont dans la blockchain ou dans l’espace crypto sont des techniciens ayant une compréhension des clés privées / publiques, etc. crypto-monnaies
Le projet est juste dingue.
Est-ce totalement infaillible ?
- La blockchain et la biométrie Uniris détient 14 brevets internationaux (États-Unis, Inde, Chine, Europe)
- Uniris est reconnu par le CSF français, l’UE, etc …
- L’équipe est techniquement et financièrement outillée pour déployer cette blockchain et la biométrie
Serons nous totalement maître de nos données personnelles ?
Oui, c’est l’aspect le plus important de notre projet.
| DK | 🌿 | Never PM/DM First 🐞:
Twitter question no 3.
From @Daskay8
Your project has great features. There must be an experienced team behind. Can you tell some about your team and their experiences in the market?
Nilesh Patankar:
Yes we are an experienced team with complementary experience. We are also a close knit team that loves to challenge each others ideas and create something unique. Here are some of the core team members: Sebastien Dupont (CEO @Uniris): Previously responsible for 2 of the largest projects at Orange: Identity (100M users) and Mobile Banking in Africa (€4 billion turnover)
Nilesh Patankar (COO @Uniris): Previously Head of Barclays Digital Payments Technology, ex-CTO PAYBACK (100M users), Head of Software Development for MasterCard Payment Processing Platforms
Christophe Bruno (CSO @Uniris): Ex-Special Forces in French Military — Technip Security Manager (Niger)
Peter Scanlon (Advisor @Uniris): Mozilla’s Ex-CMO, Director of Google Creative Lab (Building the Open Source Community)
Anne Lange (Advisor @Uniris): Board Director — Orange, Peugeot Holding, Pernod-Ricard and Imprimerie Nationale, Executive Director Innovation Cisco and Founder of Mentis
Community ask question by Website
| DK | 🌿 | Never PM/DM First 🐞:
Website question no 1.
From : CLOVER
What are the key milestones on your roadmap — both things you have already achieved and things that we can look forward to? Any partnerships and short/long term technical milestones that you want to talk about or bring some attention to?
Nilesh Patankar:
The most important milestone in near future is the MainNet launch. We are happy with the current development progress and we hope to meet our deadline of July 2021 launch. Post MainNet launch we will be launching two products developed by our team to kickstart and bootstrap the public blockchain.
One product will be in the domain of communication and other will be in the field of DeFi, specifically to facilitate asset tokenization. The communication product will be extremely interesting and address some of the recent concerns regarding privacy and surveillance capitalism.
We are talking to two business groups of repute and we will announce the partnership once the requisite process is complete.
The things achieved thus far are many but the most noteworthy are our patents related to crypto-biometrics. Few days back we were granted that patent in the US, we have already filed it in India, China apart from the US and Europe.
| DK | 🌿 | Never PM/DM First 🐞:
Website question no 2.
From : @nazmudsadat
What is ARCH Consensus. Could you explain to us what it is based on and what makes it the choice of Uniris?and How does it reduce energy consumption? Is it similar to PoS?
Nilesh Patankar:
ARCH stands for Heuristic Rotating Atomic Commitment.
Atomic Commitment is the form of “absolute” consensus that implies 100% concordant responses for the acceptance or refusal of the transaction validation.
Heuristics is the set of algorithms, softwares and parameters that manage the entire network, allowing the network to elect in a decentralized and coordinated way the nodes in charge of validating and storing transaction chains.
Rotating is about the network being fully distributed (no central or privileged role), the nodes selected for each operation are constantly changing so that no node can predict which nodes will be selected until the transaction arrives.
In other words, ARCH makes it possible to obtain universal consensus from a small part of the nodes. This is proven using hypergeometric distribution laws.
It is one of the core concepts that lead to scalability and security.
The PoW in ARCH is so lite that it consumes 3.6 Billion times less energy than Bitcoin.
No, ARCH is not similar to PoS in fact it is very different and it has some elements of PoW for device authentication.
| DK | 🌿 | Never PM/DM First 🐞:
Website question no 3.
From : Juan Sandoval
At Uniris they mention that “There will be no more passwords and no more insecurity” since all your digital identity is encoded on your finger. But can you explain to me how this digital identity will work on the fingers ? Will it be like fingerprint passwords ? Is this really efficient compared to other security methods ?
Nilesh Patankar:
Identity is embedded in another side chain in the Uniris blockchain. This inherently makes the identity decentralized since it is distributed across the P2P network. The biometric technology provided by Uniris allows anyone to identify themselves without difficulty and without storing any biometric data. This is an access control that is forgery-proof and without disclosure.
How does it work? The biometric data from inside one of our fingers will generate several cryptographic keys that will never be disclosed and using which our digital identity will be encrypted. Only the person capable of regenerating one of these keys will be able to decipher their digital identity and hence prove their identity. We call this crypto-biometrics which is very different from the current form of biometrics that is based on pattern matching and scoring.
Telegram live Questions answered by Uniris
Q1 from Kiss Day:
Please give us some details about your roadmap going forward, how do you plan to onboard users and gain more adoption?
Nilesh Patankar:
Roadmap
Q2 from Aston Rowi:
How can I be an miner on Uniris? Can we mine in low budget pc such as 4 gb ram? Kindly give us the minimum requirements?
Nilesh Patankar:
Anyone can be a miner on Uniris. We are truly decentralized which means you don’t need to own a mining rig to start participating in mining/validation. You can mine using low budget PCs. 4 GB RAM would be a little less but look at Intel NUC PC as a minimum requirement PC. It has 8 GB RAM and 500 GB HDD.
Q3 from Ufff Bujlam Na:
How can I get UCO? Is it available on Exchanges?
Nilesh Patankar:
Yes, UCO is available on
Probit.io
Bithumb global (bithumb.pro)
Zebitex.com
Blockchain.io
Uniswap.org
As far as the price of UCO is considered, (below is a chart will projects the price of UCO over time)
Q4 from Rmitch:
For a project development ambassador play an important role. So, do you have an ambassador program which I can participate and become an ambassador?
Nilesh Patankar:
You are absolutely right, mass adoption is the key to success and our vision and the whole architecture is geared for that. Most of the blockchains have struggled in that aspect. Moreover, their technology cannot manage the scale either with processing capability of less than 25 transactions per second. We have already designed an ambassador program and we will launch it soon. We will be focussing on different countries and come up with bespoke programs suited for each geography. There are lots of interested parties and lots of crypto-friendly countries out there. So we welcome people to reach out to us in order to join the ambassador program.
