BlockTalks x Uniris AMA Transcript!
Hello! BlockTalkers & Blockchain Enthusiastic!
We recently hosted an AMA with Uniris, on October 18th, at 01.00 PM UTC. Many of you might have participated or many of not. But we make sure no one missed out from the knowledge shared by Nilesh Patankar, COO & Akshay Kumar Kandhi, Head of R&D at Uniris So here we are up with the AMA transcript, for those who missed the live session, this blog post will be a saver & feeder of knowledge for them.
Introduction Questions Asked By BlockTalks
Q1. Could you please introduce Uniris to our community in layman’s term?
Ans — The idea started with trying to make blockchain grandma proof meaning simple for everyone to use. And provide the scale for real world applications.
So Uniris promise is to provide access to all technologies with a simple touch of your finger while protecting your identity. The Uniris team has developed an ultra-secure and tamper-proof blockchain and biometrics technology that allows you to replace any password, key or other authentication devices by simply reading inside your fingers. 4 years of research and 12 strong international patents endow Uniris with the technological attributes that the predecessors have lacked — scalability, speed, reliability and simplicity of native biometric recognition.
Q2. What are the advantages of Uniris to the other alternatives in the Blockchain field?
Ans — Uniris blockchain is about scale, speed, security and simplicity. The current blockchains work at less than < 25 transactions per second (TPS), compare that to real world solutions like Mastercard/Visa/AmEx or Amazon/Facebook/WhatsApp which are processing at a scale 1000 times faster, at the very minimum.
Uniris blockchain outperforms the current blockchain standards and is closely integrated with biometrics’ native identity. Uniris architecture provides linear horizontal scalability. Given enough nodes we can 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.
Q3. What are the major milestones Unifi Protocol achieved so far & what are in the future pipeline?
Ans — Uniris has been involved in research since the last 4 years and we have filed 12 patents worldwide, in the field of biometrics and blockchain. We have also published our technology yellow paper and white paper that has been peer reviewed by researchers from CNRS/Ecole Polytechnique. We have developed our alpha network and deployed our website to showcase blockchain based content management use-case. We also did our listing on 4 exchanges thus far — Zebitex, Probit, Uniswap and blockchain.io.
The future pipeline looks extremely promising and here are some salient milestones for the coming year:
Q4 2020 — TestNet and bugs bounty
Q1 2021 — MainNet
Q2 2021 — Full public crypto and decentralized identity chain
Q4 2021 — Biometric industrialization
This roadmap has been created by keeping in mind the secure access to mega global events like Rugby World Cup 2023 and Paris Olympics 2024.
Questions Asked on Twitter For Uniris Team!
Q1. Security- Scalability & Interoperability are most common and also a Major issues in most of Blockchain. So How UnirisLife solve these major problems from its Blockchain Platform & Make platform Secure- Scalable & Interoperable?
Ans — We innovated each layer of the blockchain to achieve the required scale and security. At the base level the P2P network uses supervised multi-cast that reduces the network chattiness and decongests the available bandwidth.
Uniris has built a native patented consensus protocol called ARCH from scratch! ARCH is able to help with scale and provide the ability to handle even 90% of malicious nodes. ARCH Consensus: ARCH stands for Heuristic Rotating Atomic Commitment and is the native consensus protocol built grounds up.
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 transactions chains. Rotating the network being fully distributed (no central or privileged role), the nodes elected for each operation are constantly changing so that no node can predict which nodes will be elected until the transaction arrives.
In other words, ARCH makes it possible to obtain universal consensus from a small part of 200 nodes. This is proven using hypergeometric distribution laws.
Q2. Uniris has partnership with Paris Olympic Games 2024. I wonder How was the blockchain role on real-life sport event like Olympic Games? And can you tell use how will this partnerhip work?
Ans — The platform has been certified by the French Strategic Committee of the Security Industries Sector (CSF) with the aim to identify solutions that can contribute to the security of major events such as the Paris Olympics 2024. For the next 5 years, Uniris would have an opportunity to provide secure access for various global events in France. Our first pilot was supposed to be at this year’s French Open Tennis tournament (Rolland Garros). We were planning to provide bands that would provide access to the arena and other secure zones for spectators and players respectively. The access/authorization information would be securely stored on the blockchain.
As you know due to the corona pandemic the event was postponed and all experiments were halted for this year. Similarly for the Olympics we will design a secure access system based on our blockchain. Spectators, players, team management, security personnel and others would get relevant access to relevant zones based on their authorization.
Global event management means Uniris blockchain would potentially add a minimum of 10 Million users due to the Olympics alone. Imagine the network effect !!!
Q3. How UnirisLife guarantee the protection of the user funds without the use of Private Keys? Just the biometric method is allowed? What happen if i cannot use my fingers ( is I have an accident or something)
Ans — Our solution is not based on scoring biometrics, it is based on crypto biometrics. Scoring biometrics is about ensuring a match with the stored print. It is based on threshold and a match over 75–80% is enough. We do not store any print but generate private keys using a crypto processor on-the-fly. The private key is then used to unlock data locked by corresponding asymmetric public key.
This is, in a way, ZKP or Zero Knowledge Proof. There is no way to hack since there is no storage of biometric information.
For the biometrics device, the private keys are not only generated from the fingerprint, but also the internal venous network and internal finger structure. Even though there is damage on the fingerprint the internal venous network and the ultrasound of the finger is enough to generate the private keys. Moreover multiple fingerprints are taken to ensure enough redundancy.
Q4. $UCO is the Native Token of Uniris Protocol.. But Could you explain what’s the main Use & Advantages of Holding $UCO Tokens? Which types of Services are offered by Uniris Protocol to Uniris Holders?
Ans — The crypto-economics are based on the universal principle of supply and demand. The balance of the supply and demand is maintained to provide a healthy ecosystem. Here are the two ways Uniris manages the same:
Control supply: Limit the offer — 10 Billion UCOs ONLY. Control distribution — only private and public sale tokens available for trade. Programmed deflation — destroy part of UCOs resulting from transaction costs.
Create Demand: E2E integrated services platform powered by biometrics, scalability provides endless use-case possibilities, certified for secure access to international events like Olympics 2024 and Rugby World Cup 2023.
There is a token burn mechanism built in the tokenomics. The Economic model provides perpetual token burn leading to greater incentives for early investors through programmed deflation.
Q5. I have read on your website that your technology is designed to be tamper-proof, What are the negative consequences that Uniris wants to avoid in relation to tampering?
Ans — You might have heard of 51% attack or 66% attack in blockchains right?
The ARCH consensus provides a tamper proof blockchain which is able to withstand even 90% attack! (SHOCKED?) Let me tell you how, The Uniris blockchain is based on hypergeometric distribution law which, from an unpredictable election and a formal consensus, make it possible to obtain with certainty the same answer (consensus) by querying 200 nodes as would be by querying 100,000. In other words, out of the 200 nodes randomly selected (for consensus) there will be at least 1 good node even when 90% of nodes are malicious. This distribution coupled with atomic commitment results in extremely high fraud tolerance.
Questions Asked by our BlockTalks Community Members during live Session to Uniris Team!!
Q1. Can you explain more about your Automated currency destruction, how it works and why do you think investors would like the burning mechanism?
Ans — As explained in our white paper, the destruction of UCOs will be directly built inside the mining process (part of the fees will be burned). This is transparent for the users of the platform and does not affect their transactions or their holdings. The burn happens from the part of the transaction fees only and hence helps in decreasing the UCOs in circulation in a gradual and programmed manner. As explained, the value of a crypto currency is only based on demand/supply — thus the importance of that kind of burn mechanism is to systemically reduce the supply and hence systemically increase the value of each UCO.
Q2. As You know, Many people judge a Project By the Token price, What do you have to Say to investors? What’s the plan to increase the Token Demand?
Ans — We believe the future is extremely secure for the next 5 years due to these global events. We do not see any worthy competition given the mix of biometrics and blockchain results conducted by Uniris over the last 4 years.
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 will add 9 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,
for example, considering an event such as the Paris Olympics 2024, which alone brings together 8 million people and knowing that the maximum number of UCO exchangeable on the market over this period will be 75% (7,5 billion UCOs), we thus 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
Q3. If anybody thinks your project really likes a scam project, and they can’t trust this project. How do you make them believe in your project? How do you think with Asia market? Does your team have any plan approach INDONESIA which the potential market in crypto, there have many great teams and investors want work and earn money from crypto?
Ans — We incorporated Uniris in 2017 after two years of research. We could have easily jumped on the ICO boom that happened in 2018 but we have been patient and transparent in our approach. We have taken time to engage with researchers and got our work peer reviewed. Today we are listed with the promise of well defined use-cases and business plans. Investors can easily verify the authenticity of the roadmap and the work that is happening.
The Asia Market is very promising. Indonesia is a huge market dominated by the digital economy. It actually has the highest percentage of mobile e-commerce of any country in the world — higher than China, South Korea and the U.S.
The rapid growth of Indonesia’s digital economy, coupled with its sizable population, provides a ready market for blockchain products, manufacturers and services providers. Uniris has many projects in the pipeline which would be highly suitable for Indonesian digital ecosystem and in turn drive strong community and business development.
We will soon launch our Ambassador program and are looking forward to having Uniris Ambassador in Indonesia. Please join our telegram group (https://t.me/uniris_eng) and stay tuned for the details regarding our Ambassador program.
Q4. Uniris blockchain provides a collaborative & Formal Proof-of-Work allowing to handle 90% of malicious miners. Can you elaborate how this method work?
Ans — The ARCH consensus provides a tamper proof blockchain which is able to withstand even 90% attack! (SHOCKED?)
Let me tell you how,
The Uniris blockchain is based on hypergeometric distribution law which, from an unpredictable election and a formal consensus, make it possible to obtain with certainty the same answer (consensus) by querying 200 nodes as would be by querying 100,000. In other words, out of the 200 nodes randomly selected (for consensus) there will be at least 1 good node even when 90% of nodes are malicious. This distribution coupled with atomic commitment results in extremely high fraud tolerance.
Q5. Currently attracting real users and mass Adoption is a problem for Blockchain projects. So how will $UCO solve this problem?
Ans — Mass adoption for Uniris is achieved by the certification for providing secure access to global events happening in France for next 5 years. This gives us access to events like French Open, Rugby WorldCup and finally the Olympics.
- Paris Olympics alone will bring in 9–10 million users
- Uniris is planning to provide Universal Basic Income to storage nodes +1 Billion users (any smartphone, tablet, pc can be a storage node by running Uniris app)
- Gamifying the delivery of UCO, Gamifying the development of Uniris (protocol + Dapps + softwares) target +500K of developer community.
Here are some important links of Uniris —
Official Website — https://uniris.io
Twitter — https://twitter.com/unirislife
Telegram Chat — https://t.me/uniris_eng
LinkedIn — https://www.linkedin.com/company/uniris
Discord — https://discord.com/invite/4cBpQUS
Facebook — https://www.facebook.com/Uniris-113715793364944
Reddit — https://www.reddit.com/r/uniris
YouTube — https://www.youtube.com/channel/UCmP7Sg_TdBfbO1_u4EyIKzg
Medium — https://medium.com/@uniris
